WIWA... Viva GLCs
While I was away ( WIWA )...
GLCs are answerable to the stakeholders, notably Malaysian citizens who are taxpayers.
Listed GLCs are answerable to their shareholders, notably the investors.Corporate governance-speaking, GLCs are not answerable to race-based associations in this multiracial Malaysia, what more politically race-based groupies.
The absence of GLCs in Jihad Ekonomi Melayu is the right thing to do for everybody's good.
Ignore the sideshows when the party flopped.
Comments
Just look at how the GLCs' CEOs response. Then we can see how "powerfull" the person is.... becos he is related to some.
Posted by: AverageJoe![[TypeKey Profile Page]](http://www.jeffooi.my/nav-commenters.gif)
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March 11, 2007 01:37 PM
“If they were my friends, they would have come.”
Did he ever wonder why?
Posted by: LC Teh![[TypeKey Profile Page]](http://www.jeffooi.my/nav-commenters.gif)
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March 11, 2007 03:33 PM
Hi Jeff,
Welcome back.
The Government had conciously kept GLC's stake in Malaysia's equity ownership out of its calculation of Bumiputra participation, reason given that these companies are considered as belonging to the Nation, not simply a Bumiputra entity. The Umnoristas should not assume these GLC's must automatically act as NEP vehicles.
Well, if these GLC's do simply exist to promote NEP policies, then they must be counted as Bumiputra entities.
We all know the result of doing that - the calculation would show NEP objectives have been exceeded, hence why are the preferential policies still needed ?
Catch-22 situation..
Posted by: kittykat46![[TypeKey Profile Page]](http://www.jeffooi.my/nav-commenters.gif)
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March 11, 2007 04:29 PM