REFLECTIONS ON A TRANSFORMATION JOURNEY The GLC Transformation Programme 2005 - 2015 REFLECTIONS ON A TRANSFORMATION JOURNEY The GLC Transformation Programme 2005-2015 VOICES August 2015
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Publisher: Putrajaya Committee on GLC High Performance (PCG) Editor: PCG Secretariat First Edition Cover & Interior Design: Cips Creations Printer: DC Prints Sdn. Bhd. The GLC Transformation (GLCT) Programme on 29 July 2005. The GLCT Programme aimed to transform GLCs to become high performing entities and also help accelerate the country’s social and economic development.
Government-Linked Investment Companies (GLICs) Investment Companies. The GLICs under the purview of the GLCT Programme are Employees Provident Fund (EPF), Khazanah Nasional Berhad (Khazanah), Lembaga Tabung Angkatan Tentera (LTAT), Lembaga Tabung Haji (TH) and Permodalan Nasional Berhad (PNB).
Government-Linked Companies (GLCs) objective and are under the control of a GLIC. A GLIC has control over GLC when it is the majority such as appointment of board members and senior management, award of tenders and contracts and so on. Subsidiaries of such GLCs also fall under the purview of the GLCT Programme. The GLCT Programme excludes state controlled or state-linked companies.
G20 is a selection of large GLCs controlled by GLICs under the GLCT Programme and is used as a proxy for performance of the GLCs. This list originally comprised of 20 GLCs but currently totals 17 due to various mergers, demergers and other corporate exercises over the years.
For more information please refer to the GLC Transformation Programme Graduation Report. Table of Content
Foreword 2 YAB Dato’ Sri Mohd Najib bin Tun Hj. Abdul Razak Prime Minister of Malaysia Chairman of the Putrajaya Committee on GLC High Performance (PCG) Introduction: Graduating to a Higher Class 4 Tan Sri Azman Hj. Mokhtar Managing Director of Khazanah Nasional Berhad Secretariat to the Putrajaya Committee on GLC High Performance (PCG) Editor’s Note 14 Pn. Saadiah Aziz About the Authors 17
SECTION 1 - THE CONTEXT AND THE BEGINNINGS: