KUALA LUMPUR (Oct 31): The market of government linked companies (GLCs) undergoing the GLC Transformation Programme (GLCT) has gone up to RM312 billion, says Deputy Finance Minister Datuk Donald Lim Siang Chai.
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.
"This rise in returns for the group is also up by 1.5 per cent when compared with companies not within the group," he said in his reply to a question from Dr Dzulkefly Ahmad (PAS-Kuala Selangor) at the Dewan Rakyat here on Monday.
Lim said a total of 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, he said.
These GLCs have taken various measures to face these problems including joining forces with their competing companies and the private sector as well as planning their market sector.
Replying to an additional question from Dr Dzulkefly, Lim said 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.
"Malaysia's population is only 28 million compared with Asean's 600 million, and such a big market will provide our GLCs a wider market. We are advising them to not only look at Asean but also markets like China."
To a question from Datuk Idris Haron (BN-Tangga Batu), Lim said the foreign consultant appointed to helm the GLCT had helped to implement the programme well and had successfully raised the GLCs' businesses.
"We had looked at expertise when appointing the CEO and the directors of the GLCs, and from time time, we will continue to appoint experts and many more talents from outside the country to serve our GLCs," he added. - Bernama
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.
"This rise in returns for the group is also up by 1.5 per cent when compared with companies not within the group," he said in his reply to a question from Dr Dzulkefly Ahmad (PAS-Kuala Selangor) at the Dewan Rakyat here on Monday.
Lim said a total of 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, he said.
These GLCs have taken various measures to face these problems including joining forces with their competing companies and the private sector as well as planning their market sector.
Replying to an additional question from Dr Dzulkefly, Lim said 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.
"Malaysia's population is only 28 million compared with Asean's 600 million, and such a big market will provide our GLCs a wider market. We are advising them to not only look at Asean but also markets like China."
To a question from Datuk Idris Haron (BN-Tangga Batu), Lim said the foreign consultant appointed to helm the GLCT had helped to implement the programme well and had successfully raised the GLCs' businesses.
"We had looked at expertise when appointing the CEO and the directors of the GLCs, and from time time, we will continue to appoint experts and many more talents from outside the country to serve our GLCs," he added. - Bernama
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