Government-linked companies (GLC) in Malaysia need to buck up to meet their transformation programme objectives by 2015. Launched in 2004, the 10-year Transformation programme, which includes a corporate social responsibility component, is meant to raise GLC performance to be on par with domestic competitors and also to have them developing into global champions by 2015.
This was released in the
Ministry of Finance's 2009/2010 Economic Report recently. The report went on to state that the roles of change agents, including senior management, the
boards, government-linked investment companies, the government and the
Putrajaya Committe on Performance, need to keep pace with a
rapidly changing environment.
GLCs were also advised to boost their efforts in corporate social responsibility
initiatives, and to make significant contributions towards education,
environmental protection and community welfare.
To date, 33 GLCs are listed on Bursa Malaysia, which accounts for only
4.0 per cent of the total listed companies have a market capitalisation
of RM235.5 billion or 49 per cent of total capitalisation and employ
more than 300,000 people.
The majority of G-20 are now reporting positive economic profits and
they include Affin Holdings, BIMB Holdings, Bumiputra-Commerce
Holdings, Boustead Holdings, Chemical Company of Malaysia, Golden Hope
Plantations, Kumpulan Guthrie, Malaysia Airlines, Maybank, Malaysia
Airports Holdings, Malaysia Building Society, Malaysia Resources
Corporations, Pos Malaysia & Services Holdings, Proton Holdings,
Sime Darby, Telekom Malaysia, Tenaga Nasional, TH Plantations, UEM
World, and UMW Holdings.
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OWW Consulting , one of South East Asia's leading CSR consultancies, launches two new websites. CSR Malaysia is their contribution to help promote CSR in the region. SRI Asia houses the OWW Responsibility SRI Index Series.
