Should an independent committee review all Malaysian GLCs?

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An Independent Committee Should Review All Malaysian Government-Linked Companies

The Institute for Democracy and Economic Affairs (Ideas) has recommended that the government establish an independent committee to review and assess all government-linked companies (GLCs). This proposal is considered essential for the current administration to effectively implement economic reforms and address concerns regarding the extensive influence of GLCs within the Malaysian economy.
Establishment of an Independent GLC Review Committee

Ideas has specifically called for the creation of an independent GLC Review Committee. The primary objective of this committee would be to conduct a comprehensive assessment of all GLCs operating within the country. This step is deemed crucial for the government to formulate and enact appropriate policies necessary for economic reform.
Basis in Edmund Terence Gomez's Research

This recommendation is directly informed by the research conducted by Edmund Terence Gomez. His study, titled "Minister of Finance Incorporated: Ownership and Control of Corporate Malaysia," mapped the extensive control exercised by the Ministry of Finance Incorporated over major businesses. Ideas published this study during a period of significant public concern, notably amidst the 1MDB scandal.
Addressing Government Intervention and Political Directorships

Gomez's research was motivated by a desire to understand the extent of government intervention in the economy, particularly through GLCs. A related inquiry focused on whether politicians should hold directorships in government-owned enterprises. The findings from his study provide critical insights into the scale and scope of GLC involvement, highlighting the need for reforms to ensure transparency and accountability.

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Should an independent committee review all Malaysian GLCs?

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