Another Doctrine - This time, for GLC

GLC race


A transformation manual has been launched for government-linked companies (GLCs) to help them shift to a higher gear and become “global champions” and “best in the class” companies.

Prime Minister Datuk Seri Abdullah Ahmad Badawi unveiled the manual, which included strategies aimed at enhancing corporate governance, developing leaders and clarifying social obligations to steer the GLCs through this transformation.

“Malaise and inertia will constrain us, as will outdated thinking and old mentalities.

“We must move forward and be able to take the GLCs to a new level of performance,” he said yesterday at the launch of the GLC Transformation Programme here.

Abdullah noted that the country is now facing “considerably challenges of the future,” particularly towards accomplishing Vision 2020. The journey, he said, was “not a mere walk or run on a flat smooth field” but rather a “treacherous climb up steep and dangerous mountains, with grave obstacles and precarious hurdles along the way.”

“The imperative for us in Malaysia is to change and to transform; to raise our productivity and to value add, to move to a higher plane of performance and merit; and to do it now, not tomorrow, certainly not next week or next month,” he added. The GLCs, he said, as providers of mission-critical services like utilities and infrastructure, must reform into high performing organisations, which would take Malaysia to the next level of development.

The 10 initiatives outlined in the “transformation manual” are:

1. Enhancing board effectiveness;
2. Strengthening directors’ capabilities;


3. Enhancing Government-linked investment companies' (GLIC) monitoring and management functions;


4. Improving regulatory environment;


5. Clarifying social obligations;


6. Reviewing and revamping procurement;


7. Optimising capital management practices;
8. Managing and developing leaders and other human capital;


9. Intensifying performance management practices; and


10. Enhancing operational improvement.

COMMENTS & CRITICAL ANALYSIS:

Excellent, Idealistic, Courageous, futuristic, Philosophical!

Pak Lah must be congratulated; Azman Mokhtar, the CEO of Khazanah must also be congratulated for his effort.

Can is be done? Can it be implemented effectively and in an efficient manner?

It can, I believe, if CEOs of Khazanah and the GLCs are the ONLY people left to make the efforts, without interferences from UMNO and UMNO Youth, plus, interferences from the Ministers who had always wanted a piece of action, and a share of the spoils.

Will we see any political interferences?

YES! Definitely! UNMO Youth had sent the message straight during the last general assembly. In the words of Khairy:

"...this was no longer a Hidden Agenda or something only in spirit and soul. [This is the] basis for the country's economic planning in the coming Ninth Malaysia Plan with NO SHAME OR EXCUSE. “NO NEED TO HIDE. This is the Malay Agenda.... [so that Malays] will be on par with the other races.”

[Emphasis added]
Bring Back the NEP,says Youth Wing; The Star; July 21, 2005

Will transformation begins? YES! With Khairy designing the change and setting the agenda; the Malay Agenda, and the beginning of a new cartel ... a coterie and a new group of billionaires, replacing the previous regime.