IT is incorrect to say the reform of government-linked companies (GLC) have benefited Bersatu as claimed by a think-tank, said Mohamed Azmin Ali.

The economic affairs minister said the issue did not arise as the GLCs have been distributed fairly to all the ministries.

“No, he (Prime Minister Dr Mahathir Mohamad) has distributed them fairly. Previously, many agencies were under the Prime Minister’s Department, but now they have been distributed to other ministries,” he told reporters at the Parliament lobby today.

As an example, Azmin said his ministry had three agencies from the Finance Ministry – Risda, Felcra and Felda. 

Azmin said the decisions involving the GLCs were discussed by the cabinet

The Institute of Democracy and Economic Affairs (Ideas) said today that that Pakatan Harapan’s vow to reform GLCs appears to have benefited Dr Mahathir’s party, Bersatu, the most.

Ideas said it detected this in the changes to the “reporting line” of multiple GLCs under four key ministries.

Its study, detailed in a report titled “GLC Monitor, 2019: State of Play Since GE14”, found that control of nine major firms under the Finance Ministry has been transferred directly to the Prime Minister’s Office (PMO), and the Economic Affairs, Entrepreneur Development and Rural Development Ministries.

Effective control over key government enterprises under the Finance Ministry’s jurisdiction, including sovereign wealth fund Khazanah Nasional Bhd and leading Bumiputera-based investment fund Permodalan Nasional Bhd, has been transferred to PMO, said the report.

“These two GLICs (government-linked investment companies) have enormous investments in Malaysia’s leading publicly listed firms, thus, giving the prime minister significant influence over these enterprises.”

The study also found that the corporations divested from the Finance Ministry, which was previously headed by an Umno leader, are now under the control of Bersatu and fellow PH component PKR. – October 30, 2019.