Posted by speakup > 2024-05-25 09:20 | Report Abuse

yup and PH lose GE16. hahahah!

Posted by chinaman > 2024-05-25 14:11 | Report Abuse

why gomen still holding on to GLC using tax payee money????

Posted by chinaman > 2024-05-25 14:28 | Report Abuse

time to evaluate how GLC beneficial to poor citizens except for big belly directors??

Posted by EngineeringProfit > 2024-05-25 14:45 | Report Abuse

Can use them to bribe politicians, launder $$,$$$,$$$,$$$ etc etc

Posted by chinaman > 16 minutes ago | Report Abuse

time to evaluate how GLC beneficial to poor citizens except for big belly directors??

Posted by EngineeringProfit > 2024-05-25 14:48 | Report Abuse

Government-linked corporations (GLCs) are gateways to inefficiency, corruption, and money laundering.

1. **Inefficiency**: GLCs can suffer from bureaucratic inefficiencies due to their close ties with the government. Decision-making processes in these corporations are often slower, as they are subject to political considerations and regulatory constraints that do not typically burden private sector companies. This can lead to delays, higher operational costs, and an overall lack of competitiveness compared to their private counterparts.

2. **Corruption**: The intersection of government and business in GLCs can create fertile ground for corruption. Political interference in corporate governance can lead to appointments based on political loyalty rather than merit, resulting in a lack of accountability and transparency. This environment can foster corrupt practices such as bribery, embezzlement, and kickbacks. When government officials have vested interests in these corporations, there is also a greater risk of conflicts of interest and favoritism in the awarding of contracts and business opportunities.

3. **Money Laundering**: GLCs can be used as vehicles for money laundering due to their complex structures and the significant flow of funds they handle. The close relationship with government entities can provide a shield against regulatory scrutiny, making it easier to conceal illicit financial activities. Additionally, the international operations of many GLCs offer opportunities to move and launder money across borders under the guise of legitimate business transactions.

4. **Lack of Accountability**: GLCs often lack the same level of scrutiny and accountability as private sector firms. They may be subject to less rigorous auditing and regulatory oversight, particularly if there is a perception that they are protected by the government. This lack of oversight can enable corrupt practices and financial mismanagement to go unchecked for extended periods.

5. **Political Patronage**: The presence of political patronage in GLCs can undermine their efficiency and integrity. Politicians may use these corporations to reward loyal supporters with jobs or contracts, regardless of their qualifications or the impact on the corporation’s performance. This can result in a workforce and management team that is more focused on serving political interests than on achieving business goals, further entrenching inefficiency and corruption.

6. **Economic Distortions**: GLCs can distort market competition by benefiting from preferential treatment such as subsidies, government bailouts, and exclusive contracts. This can create an uneven playing field, discouraging private investment and innovation. Over time, the lack of competitive pressure can lead to complacency and inefficiency within GLCs.

Posted by chinaman > 2024-05-25 14:50 | Report Abuse

diesel rationalization to cut off rich and foreign workers from subsidy. what about bloated civil servants and crony directors in GLC? holy cow for vote banks so untouchable? till now, there is no real reform must be fair and comprehensive ma

Posted by chinaman > 2024-05-25 14:55 | Report Abuse

The state government has found itself on the back foot following allegations of preferential treatment in the tender process after it was revealed that youth and sports minister Hannah Yeoh’s husband, Ramachandran Muniandy, is the CEO of Asia Mobility Technologies Sdn Bhd, one of the companies selected.