This study aims to empirically analyse the strengths and weaknesses of Pulic’s proposal and proposes geopolitical benchmark as a new approach to measure the intellectual capital of MNCs. We also investigate the connection between MNCs’ IC and its impact on firm market value and profitability. We focus on MNCs in Malaysia that were active from 2009 to 2013 as an evidence of MNCs from emerging market economies. We classify international segmentation sales based on the multilateral institution of G7, BRICS and ASEAN to capture the geopolitical influence as relationship capital of the companies. Considering the component of multinationality and geopolitical stakes as IC’s relationship capital, the results reveal that intellectual capital have a positive effects on firms’ market value and profitability.  This study suggest that multinationality and institutional geopolitics stakes is better incorporated into the understanding of intellectual capital decisions of MNCs . This study contributes to existing financial literature by providing new insights into the importance of global segmentation location and geopolitical stakes in explaining the component of intellectual capital.