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Friday, November 9, 2007

Prove your worth at international stage, GLCs told

Bernama (8/11/2007): Government-linked companies (GLCs) have been asked to prove their worth at the international scene rather than "taking shelter in the country's comfort zone."

Penang Umno delegate Senator Datuk Musa Sheikh Fadzir said GLCs are being pampered by the government through capital injections amounting to billions of ringgit.

He said it was easy for GLCs to secure government projects worth billions of ringgit compared to Class "F" contractors who have to contend with the tender process and drawing of lots merely to get a RM50,000 project.

Debating the motion on the presidential address at the Umno General Assembly, Musa called on GLCs to prove their mettle in doing business overseas and make profits.

He criticised GLCs for failing to produce successful Bumiputera entrepreneurs.

He also called for the Federation of Malay Economic Bodies (Gabem), set up a year ago, be vested with executive powers to investigate and monitor GLCs' progress.


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