PUTRAJAYA: The government is reactivating ValueCap with a fund size of RM20 billion, which will be used to invest in undervalued shares on Bursa Malaysia.
Prime Minister Datuk Seri Najib Razak said the move is one of the measures taken to stabilise the financial markets.
"In 2002, ValueCap was set up as an entity to support undervalued shares and it has proven to be effective in stabilising the equity market.
"ValueCap had generated high returns to its shareholders Permodalan Nasional Bhd (PNB), Retirement Fund Incorporated (KWAP) and Khazanah Nasional Bhd," he told reporters after the Economic Council meeting today.