G20 market cap hit historic high of RM431b

KUALA LUMPUR: The market capitalisation of G20 or the top 20 government-linked companies (GLCs) almost trebled to RM386 billion from RM134 billion for the period May 2004 to July 2015, hitting an all-time high of RM431 billion on April 7, 2015, said Prime Minister Datuk Seri Najib Razak.
Over the same period, he said, the total shareholder return increased 11.1% per annum.
"G20 net profits hit RM26.2 billion in the financial year 2014 and grew at a compounded annual growth rate of 10.2% from 2004-2014.
"G20 has made significant inroads into foreign markets," he said in his keynote address at the graduation ceremony of the GLC Transformation Programme here last Friday.
Najib, who is also Finance Minister, said G20 overseas share of assets grew to 26% in 2014 from 11% in 2004, while overseas share of revenue rose to 34% from 28% in the same period.
He noted that throughout the last 10 years, the GLCs have contributed RM108.6 billion in dividends and RM62.7 billion in taxes.
Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar said that GLCs and GLICs are moving to be part of the solution in building the nation towards achieving Vision 2020.
He pointed out that GLCs made RM153.9 billion worth of domestic investment between the financial years of 2004 and 2014, and employed 373,627 workers – of which 225,050 are Malaysians.
"While there are many gaps and challenges, GLCs must avoid mortal mistakes of complacency and hubris... and look forward to taking these challenges from a position of relative strength," he added.