Malaysia’s public sector pension fund invests in Uber
Malaysia’s public sector pension fund Kumpulan Wang Persaraan (KWAP) has invested in the ride-hailing and on-demand delivery company Uber. The size of the investment is not huge – $30m – but it is the fund’s first direct investment in a foreign company.
Travis Kalanick, Uber’s CEO and co-founder, commented: “We are delighted that KWAP of Malaysia, one of the biggest pension funds in Southeast Asia, is investing in Uber. Malaysia has demonstrated its forward-looking position in embracing new technology to help solve transportation challenges and create more economic opportunities.”
Uber launched its services in Malaysia in early 2014 and currently operates in Kuala Lumpur, Johor Bahru, Penang, Ipoh, Kota Kinabalu and Kuching.