Safe bets, deep cuts, and Razak reruns
A government-linked Monday brief.
Here’s to starting the week with some light reading. In today’s newsletter:
💸 EPF’s RM112 million (and counting) bet into “growth” firms.
🕸️ An updated network chart on one of the younger Razaks – Nazrul Zafran Ahmad Johari.
🪓 Petronas’ job cuts: a redux.
You’re reading a paid version of The Malaysianist, a newsletter on money and power by writer and journalist Emmanuel Samarathisa.
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The Employees Provident Fund (EPF) has endowed Endau Capital with RM112.6 million to invest in firms across different sectors. Pun intended.
This is a separately managed account backed by the pensions fund and run by VC firm 500.
EPF has been deploying capital in tranches since 2022 to chase the next big thing.
As these are private investments, data is scarce. It’s likely that the RM112.6 million figure isn’t final either.
But here’s what I’ve managed to map so far: