Sunday September 4, 2016
12:21 PM GMT+8

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Second Finance Minister Datuk Johari Abdul Ghani (centre) reportedy said that managers of non-performing GLCs would face the axe. — File picSecond Finance Minister Datuk Johari Abdul Ghani (centre) reportedy said that managers of non-performing GLCs would face the axe. — File picKUALA LUMPUR, Sept 4 — The Finance Ministry has said it is constantly monitoring the performances of government-linked companies (GLCs) or companies under the ministry, and will terminate the services of the top management in underperforming firms.

Second Finance Minister Datuk Johari Abdul Ghani said the management of GLCs or firms parked under Minister of Finance Inc (MOF Inc) have to ensure that their leadership results in profits and job opportunities.

“We ensure that all the management of government companies under GLC or MOF Inc, they do their work. If it seems that any of them are not achieving, the government will not renew the contract.

“If they fail to carry out their duties well, we will not renew their contracts,” he was quoted saying by local daily Berita Harian, referring to the management.

He pointed out that the role of GLCs and MOF Inc are to support Malaysia’s development and act as catalysts for the national economy, noting that failure to fulfil these roles would affect the country’s economy and political stability.

In a separate report by local daily Utusan Malaysia, Johari said those who fail to perform will risk will also face action.

“They have to work to improve the company’s performance and achievements if they don’t want to have any action taken on them,” he said.

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