No more hefty bonuses for failing GLCs, says Anwar

No more hefty bonuses for failing GLCs, says Anwar

KUALA LUMPUR: Loss-making or poorly managed government-linked companies (GLCs) will no longer enjoy hefty bonuses, says Datuk Seri Anwar Ibrahim.

The Prime Minister said that he had put his foot down last year to stop such practices, particularly involving GLCs which have reported losses or were poorly managed.

“The companies (GLCs) that do not record profits or are poorly managed should not assume that they will continue to receive their bonuses.

“For a long while, I have noticed that they assume it is normal to get between six and eight months’ bonus.

“This is why we have stopped and I said no more to this last year,” he said this when replying to a supplementary question raised by Datuk Mohd Shahar Abdullah (BN-Paya Besar) in Dewan Rakyat on Tuesday (Oct 22).

DISYORKAN UNTUK ANDA :

Hujah Pra Matang Najib Haters Mengenai Pindaan Tahanan Rumah

Anwar said that those chosen to lead the GLCs should be aware that they have a responsibility towards achieving the goals for their respective companies.

He acknowledged that most GLCs were performing accordingly, citing the example of Ramly Burger and Aerodyne Group which have since become global players.

As such, Anwar said that the government recently decided that the Auditor-General’s Department will audit all 2,000 gazetted GLCs next year.

“This is because there are still some that commit violations at several stages.

DISYORKAN UNTUK ANDA :

Apa Sudah Jadi Dengan PPBM Melaka?

“We have no choice but to audit and monitor them,” he added.

In July, Dewan Rakyat passed the Audit (Amendment) Bill 2024, aimed at giving greater authority to the Auditor-General to enhance governance and accountability in the public sector.

The amendment provides that the Auditor-General’s (AG) authority be significantly broadened for a more comprehensive oversight of public spending.