GLCs had also been setting up offices needlessly across the world, which Tun Daim Zainuddin said could not continue. — Picture by Yusof Mat Isa
KUALA LUMPUR, May 8 — Government-linked corporations’ profligacy in the last decade was partially responsible for Putrajaya’s dry coffers now, Tun Daim Zainuddin said.GLCs had also been setting up offices needlessly across the world, which he said could not continue. “Back then, nobody dared to speak up. The AG, the IGP were replaced. Everyone was in fear,” he was quoted as saying.
Last month, sovereign wealth fund Khazanah Nasional Bhd announced that it was closing its offices in London and reviewing its presence in locations such as Turkey where it said a physical presence was not justified. The public gained insight into the extent of GLC pay levels last year when the Transport Ministry revealed that the Malaysian Aviation Commission executive chairman at the time earned RM85,000 monthly.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Finance minister urges Securities Commission to study CEO-worker pay disparity at profitable firms | Malay MailKUALA LUMPUR, May 6 — Finance Minister Lim Guan Eng has called upon the Securities Commission (SC) to look into fairer compensation for employees in well-performing companies for its Corporate Governance (CG) Monitor next year. In his speech read out by political secretary Tony Pua at the launch... It's nothing SC can do about, but surely CEO compensation should be deliberated at AGMs and duly approved by shareholders Were going to have mutineers amongst the companies now. Simple, why not the employees just be their own boss then? Then they can have any amount of salary they wish to have.
Source: malaymail - 🏆 1. / 86 Read more »
Finance Minister denies govt neglecting development in Sarawak, says RM41b allocated | Malay MailKUALA LUMPUR, May 4 — Finance Minister Lim Guan Eng today refuted claims that the Pakatan Harapan (PH) government had neglected the infrastructure development of Sarawak. He said the ruling party has allocated RM4.3 billion for the state this year alone, which is more than what the previous...
Source: malaymail - 🏆 1. / 86 Read more »
Finance minister: Malaysia embracing digital technology in bid to become high-income nation | Malay MailKUALA LUMPUR, May 7 — Finance Minister Lim Guan Eng said Malaysia is embracing digital technology especially 5G as a launching pad to become a high-income nation. He said Malaysia, however, is aware that the technology will pose a risk of digital disruption, causing loss of...
Source: malaymail - 🏆 1. / 86 Read more »
Putrajaya gives public transport RM500m shot in the arm with new fund | Malay MailKUALA LUMPUR, May 2 — Putrajaya has launched a RM500 million Public Transport Fund to be managed by Bank Pembangunan Malaysia. Finance Minister Lim Guan Eng said at the launch today that he hoped to encourage an increase in the use of public transportation among Malaysians by financing the...
Source: malaymail - 🏆 1. / 86 Read more »