Integrity, governance units to be established at GLCs
KUALA LUMPUR: The government, has in principle, agreed to the establishment of an Integrity and Governance Unit at all government-linked companies (GLCs), and state and Ministryowned business entities.
It will be under the supervision of the Malaysian Anti-Corruption Commission (MACC), says Prime Minister Datuk Seri Najib Tun Razak.
Najib said the initiative is precisely to strengthen the confidence that all can, should, and do have in Malaysia.
“The business community wants the certainty of knowing that the government is committed to the necessary reforms, and to fostering a culture of entrepreneurship, transparency, accountability, as well as good regulations,” he said in a keynote address at Invest Malaysia 2017 yesterday.
Meanwhile, on 1Malaysia Development Bhd (1MDB), Najib said the rationalisation process is progressing well, and many assets formerly owned by the company are thriving.
“At 1MDB, it is now clear that there were lapses in governance.
“However, rather than bury our heads in the sand, we ordered investigations into the company at a scale unprecedented in our nation’s history.
“Rather than funnel good money after bad to cover up any issues 1MDB may have faced, ...the model embraced by a former leader, I instructed the rationalisation of the company,” he added.
Najib said while there were issues at 1MDB, certain politicians blew them out of proportion, and tried to sabotage the company, in an attempt to topple the government in-between election cycles.
“And it (rationalisation of 1MDB) is progressing well. Indeed, many of the assets formerly owned by 1MDB are thriving.
“One only needs to drive past the Tun Razak Exchange to see the new construction for confirmation,” he added. — Bernama
The business community wants the certainty of knowing that the government is committed to the necessary reforms, and to fostering a culture of entrepreneurship, transparency, accountability, as well as good regulations. Datuk Seri Najib Tun Razak, Prime Minister