Opposition leader criticises GLC involvement in non-core projects in Budget 2027

KUALA LUMPUR, Oct 12 — Opposition Leader Datuk Seri Hamzah Zainudin has slammed the involvement of government-linked corporations (GLCs) in non-core projects within the Budget 2027. During the debate, he pointed out a project to construct a hostel for students, which he claimed would be funded by the Retirement Fund Incorporated (KWAP).

Hamzah argued that this practice extended to other companies such as Petronas and Tenaga Nasional Bhd, questioning their adherence to their fundamental purposes. For instance, he asked why KWAP, which is meant to preserve and grow capital for future pensions, is funding student hostels, questioning the financial returns. The Prime Minister, Datuk Seri Anwar Ibrahim, had presented a budget of RM459 billion for 2027 earlier that day, including a RM50 billion contribution from GLCs and state enterprises.

Hamzah criticized this move, urging GLCs to focus on their core mandates to avoid losing their purpose.