The GLC Transformation Programme initiated some seven years ago under the PCG had sowed some of the seeds of what is now a national transformation agenda.It is a sucess story. Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar, who heads the PCG secretariat, said it was imperative to sustain GLC achievements under the National Transformation Programme.
He said the G20 (selection of 20 largest GLCs controlled by GILCs) had paid RM47bil in dividends and RM32bil in taxes since 2004, benefitting the rakyat. “The G20 achieved 74% of their headline key performance indicators (KPIs) set for 2010, up 64% from 2009,” he said in his speech.
The G20 outperformed the rest of FBM KLCI by 1.9% per annum, reaching 16.1% per annum from May 2004 to June this year. Market capitalisation grew by 123% to RM354bil from RM159bil for the same period. They made RM109bil of capital investments of which RM73bil was expected to benefit the domestic economy. The G20 also provided 36,159 scholarships worth RM434mil to Malaysian students in both local and overseas academic institutions since 2004.
Now Khazanah Nasional Bhd is embarking into collaboration efforts between GLCs and the private sector to spur both domestic and foreign growth.
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