Major shake-up among the head honchos of government-linked companies (GLCs) is expected to take place

More than 100 top officials are expected to go in major shake-up

Friday, 22 Jun 2018



Left pic: Petronas chairman Tan Sri Mohd Sidek Hassan is expected to relinquish his position in the national oil company. — Bernama. The rest: Apart from Moggie (left), there is also talk in the market that the chairman of Sime Darby Plantation Bhd Tan Sri Abdul Ghani Othman (centre) and Boustead Holdings Bhd deputy chairman and group MD Tan Sri Lodin Wok Kamaruddin could also be vacating their positions.



PETALING JAYA: A major shake-up among the head honchos of government-linked companies (GLCs) is expected to take place in the coming weeks.

Politically-appointed heads of GLCs are in focus given that their appointments were made at the pleasure of the previous Government. Many of the heads of GLCs were given board positions as recognition of their services.


A source pointed out that there were more than 100 names on a so-called “watch list”, including GLCs’ top brass, board members and senior management officials.

GLCs that bear watching would be those that have politically-appointed people on their boards.



Tenaga Nasional Bhd

image: https://cdn.thestar.com.my/Themes/img/chart.png’s board has the representation of former politicians, headed by former Tan Sri Leo Moggie who was the former president of Dayak Sarawak State Party (PBDS) in Sarawak.



Apart from Moggie, there is also talk in the market that the chairman of Sime Darby Plantation Bhd Tan Sri Abdul Ghani Othman and Boustead Holdings Bhd

image: https://cdn.thestar.com.my/Themes/img/chart.png deputy chairman and group managing director Tan Sri Lodin Wok Kamaruddin could also be vacating their positions.

Additionally, PNB chairman Tan Sri Abdul Wahid Omar has also been reported to be leaving in the near term.

The changes in the top brass are part of the reform programme of the new government under Pakatan Harapan.

The talk is that calls, rather than requests in writing, were made to facilitate the change within the boards of GLCs in the country.

The heads started rolling on May 14 when Tan Sri Shahrir Abdul Samad stepped down from his position as the chairman of the politically-linked Federal Land Development Authority (Felda).

On the same day, Tan Sri Irwan Serigar Abdullah’s contract as Treasury secretary-general was cut short, and subsequently he was transferred to the Public Service Department. Irwan has since stepped down from board positions of companies under the Finance Ministry.

A week later, Datuk Seri Abdul Azeez Rahim relinquished his position as the chairman of the pilgrim fund, Lembaga Tabung Haji. Then came the resignation of Bank Negara governor Tan Sri Muhammad Ibrahim after having served less than two years since his appointment in April 2016.

His resignation came weeks after questions were raised over the central bank’s purchase of land to bail out 1Malaysia Development Bhd (1MDB). Other key resignations related to GLCs in recent times included that of Telekom Malaysia Bhd

image: https://cdn.thestar.com.my/Themes/img/chart.png’s managing director (MD), group CEO Datuk Seri Mohammed Shazalli Ramly and Tan Sri Habibul Rahman who sat on the board of Malaysia Airlines.



Yesterday Malaysian Resources Corp

image: https://cdn.thestar.com.my/Themes/img/chart.png Bhd (MRCB)’s Tan Sri Mohamad Salim Fateh Din, the developer of KL Sentral, announced his retirement. Notably, Salim’s son Mohd Imran Mohamad Salim has taken over the MRCB group MD role. MRCB has also restructured its board by redesignating Tan Sri Azlan Zainol as independent chairman.



Additionally, Petroliam Nasional Bhd (Petronas) independent non-executive director Datuk Mohd Omar Mustapha had also tendered his resignation on June 1.

It has been reported that Petronas chairman Tan Sri Mohd Sidek Hassan is expected to relinquish his position in the national oil company while Bursa Malaysia CEO Datuk Seri Tajuddin Atan could also be replaced before his term ends in March next year.


Read more at https://www.thestar.com.my/business/business-news/2018/06/22/more-heads-to-roll/#1YhFtc3LQmQuuTPu.99