The Star reported that the Deputy Finance Minister Datuk Donald Lim Siang Chai said that, the market of government linked companies (GLCs) undergoing the GLC Transformation Programme (GLCT) has gone up to RM312 billion. The total collective returns to shareholders of this group of GLCs have also gone up by an annual 14 per cent as of October 14 this year since the GLCT was initiated in May 14, 2004. Four companies in the group also saw a rise in their key perfomance index (KPI) by 72 per cent last year compared with 64 per cent in 2009.
However, several GLCs also recorded a drop in their financial performances due to external factors not within their control such as higher oil and raw materal prices.These GLCs have taken various measures to face these problems including joining forces with their competing companies and the private sector as well as replanning their market sector.
Datuk Lim also mentioned that in order to avoid the problem of “overcrowding” in the domestic market, GLCs with potential have been advised to venture into larger overseas markets. This is because Malaysia's population is only 28 million compared with Asean's 600 million, and such a big market will provide our GLCs with a wider market.
(Adapted From The Star, Malaysia)
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