KUALA LUMPUR, Oct 27 — The government is considering a Government-Owned Entities Bill to tighten governance at government-linked companies (GLCs) and related agencies, and prevent misappropriation such as that seen in 1Malaysia Development Berhad (1MDB), Felda and Tabung Haji.
Prime Minister Datuk Seri Anwar Ibrahim said the proposed law would set clearer rules and ensure government-owned entities, including their subsidiaries, were subject to effective oversight.
He said weaknesses and serious breaches in the management of government institutions had been highlighted in Royal Commissions of Inquiry (RCIs), task force reports and white papers.
“Our proposal to table the Bill is not only for (strengthening) governance, but also to establish very clear rules and laws for regulatory purposes.
