How can GLCs balance profit with social responsibility?

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Balancing Profit with Social Responsibility in GLCs

Government-linked companies (GLCs) are urged to strike a balance between achieving financial performance and fulfilling social responsibilities, a principle exemplified by Telekom Malaysia Bhd (TM) under the "Madani" policy framework. While acknowledging the efficiency and profitability gains driven by TM's privatisation in the 1990s, Prime Minister Datuk Seri Anwar Ibrahim emphasised that such objectives should not overshadow the welfare of employees.
Focus on Employee Welfare and Wages

Corporate leaders are specifically called upon to prioritise the well-being of their workforce. This includes a concerted effort to improve living standards through better wages and ensuring access to quality housing and education for employees' families. This approach aims to foster equitable growth, ensuring that economic progress is shared broadly among those contributing to the company's success.
TM as a Model for Equitable Growth

Telekom Malaysia Bhd (TM) has been highlighted as an institution that embodies the concept of equitable growth. As the company celebrated its 80th anniversary, its historical role in democratising communication and evolving into a key driver of digital development was recognised. This long-standing contribution to nation-building, from pre-independence to the present, serves as a benchmark for how established entities can align their operations with national development goals.
The Role of Privatisation and Beyond

The privatisation of entities like TM in the 1990s was understood to have enhanced corporate efficiency and profitability. However, the directive from the Prime Minister clarifies that these improvements should not be the sole focus. Instead, they should be viewed as a means to an end, where enhanced capabilities can then be leveraged to better serve societal needs and employee welfare, ensuring that technological advancement and economic growth ultimately benefit all segments of the population.

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How can GLCs balance profit with social responsibility?

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