‘Terence Gomez’s piece gives some insight on the political rain pouring on the GLCs.’
This is a good write-up by Terence Gomez. But he left out several government-linked companies , for example, the Armed Forces Pension Fund and one of the key companies it owns, Boustead Holdings Bhd.
And why is Boustead Holdings looks like it is now in a complete mess? Many analysts have said that it's technically bankrupt. Under CEO Amrim, the company has not gotten better, but much worse and possibly recording its worst-ever financial performance, losing more than RM1.2 billion. If Najib Abdul Razak is proven to be a kleptocrat based on the means, opportunities and motives at his fingertips, then I would imagine his proven wrongdoing to be the tip of the iceberg considering the wealth these GLCs control under the new government.Good work, Terence. Thank God, we still have many smart and sharp people around to call out the foolish behaviour of our 'smash and grab' politicians.
And there is not much monies left in the Treasury. For this year and next, there will be a serious shortage of finances as taxes collected will be reduced.We do believe that GLCs are major enterprises that are formed to play a crucial role in the economy, mainly to assist small and medium enterprises .
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