KWSP builds closer links with WEF affiliates
World Economic Forum influence is growing in Malaysia
The Malaysian Pension Fund (KWSP) has just agreed with three World Economic Forum (WEF) affiliated fund managers, BlackRock, HarbourVest, and Partners group with USD 600 million fund launch (RM2.790 billion).
The pension fund (EPF) has given BlackRock, HarbourVest, and Partners Group USD 200 million each to invest in securities globally.
The current cabinet under prime minister Anwar Ibrahim has at least six cabinet ministers who are WEF members (see article in box). There are also a number of WEF Young Global Leaders within the government. These include Nurul Izzah Anwar (pro bono economics advisor), Hannah Yeoh, and Yeo Bee Yin. When this was made public, their profiles on the WEF website very quickly disappeared, just like PKR did on the Liberal International website last month.
BlackRock and Partners group, are full corporate members of the WEF, or their directors are individual members. Issam Chleuh, chairman of HarbourVest is an individual member.
This represents further consolidation of the Madani government with WEF linked corporations.
Malaysia’s adoption of WEF ideas and building closer ties with the WEF community are issues that have not been discussed publicly by the Madani government.
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The collaboration between KWSP and WEF-linked fund managers like BlackRock, HarbourVest, and Partners Group highlights Malaysia’s growing connection with global financial networks. While this may bring opportunities for investment and innovation, it also raises questions about transparency and local control over national policies.
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Malaysia's clueless politicians would be completely lost without wiping and anointing themselves with an old Swab.