KUALA LUMPUR, Oct 27 — The government plans to introduce legislation to tighten governance at government-linked companies (GLCs) and government-linked investment companies (GLICs), Prime Minister Datuk Seri Anwar Ibrahim said.
He said the proposed law would set clearer, stricter rules, including limits on the powers and responsibilities of those leading the entities.
“Past experience has shown both strengths and weaknesses. These issues have been documented in Royal Commissions of Inquiry (RCIs), task force reports and White Papers on 1Malaysia Development Bhd (1MDB) and Felda, as well as in cases involving Tabung Haji. The breaches were numerous and clearly excessive, making them difficult to defend,” he said during the Prime Minister’s Question Time in the Dewan Rakyat.
