KUALA LUMPUR, Oct 27: The government is considering a proposed Government-Owned Entities Bill to tighten governance of government-linked companies (GLCs) and related agencies and prevent misappropriation, such as in the 1Malaysia Development Berhad (1MDB) case.
Prime Minister Datuk Seri Anwar Ibrahim said the proposal aimed to establish clearer legal provisions and regulations to ensure that all government-owned entities, including their subsidiaries, were subject to effective regulatory mechanisms.
He said experience had revealed weaknesses and serious breaches in the management of several government institutions, as highlighted in reports by Royal Commissions of Inquiry (RCIs), special task forces, and relevant white papers.
