Full honours: Indonesian President Joko Widodo (left) and Dr Mahathir walking past the guard of honour during a welcoming ceremony at the presidential palace in Bogor, Jakarta. — Reuters
NO more big salaries for those appointed to head government-linked companies but they will be rewarded with a “big bonus” if they perform.
“We found those appointed were chosen not because of their abilities in business or management, but due to being party supporters.
“They were inefficient but were paid high salaries. We found projects under them had failed or were not profitable,” Prime Minister Tun Dr Mahathir Mohamad told the Malaysian media at the end of his two-day visit to Jakarta on an Asean tour.
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When asked to name the GLCs, he declined, saying there were too many
“There are 17,000 appointees who have no ability and are just party supporters.”
Dr Mahathir said the Pakatan Government needed to replace these CEOs with ones not linked to any political parties.
“We will hire, where possible, professionals to run the companies and we will get the ones with experience in managing companies.”
Asked if the Government will review the salaries of heads of the GLCs because some were allegedly paid RM10mil in gross salary, Dr Mahathir said the ones to be appointed will not get big salaries.
“Their salaries will not be big. They will be paid bonus and the bonus will be big.”
On the new ministers to be sworn in on Monday, Dr Mahathir reminded those who were involved in corrupt acts or abused their power that they would be “moved out”.
“At any time (they are involved), action will be taken,” he added.
Read more at https://www.thestar.com.my/opinion/columnists/mergawati/2018/06/30/no-more-big-salaries-for-glc-heads-dr-m-they-will-be-rewarded-when-the-companies-perform-well/#or7ThWbhL42zwOBo.99
PETALING JAYA: Following the retirement of Tan Sri Abdul Wahid Omar as chairman of Permodalan Nasional Bhd (PNB), the attention is now directed towards the top officials in Lembaga Tabung Haji (LTH) and Lembaga Tabung Angkatan Tentera (LTAT).
Sources said that among the government-linked companies (GLCs), these two organisations are expected to see changes following the change of government in Putrajaya.
LTH is headed by its group managing director and chief executive officer (CEO) Datuk Seri Johan Abdullah, while LTAT’s chieftain is Tan Sri Lodin Wok Kamaruddin, who is also Boustead Holdings Bhd’s deputy chairman and group managing director.
In 2015, LTH purchased a 1.55-acre parcel in the Tun Razak Exchange (TRX) project from scandal-ridden 1Malaysia Development Bhd (1MDB) – sparking claims that the deal was done to bail out 1MDB.
More heads expected to roll in GLCs
in a statement yesterday, PNB said former Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz will replace Wahid as PNB’s chairman effective July 1.
In a separate statement, Wahid said the appointment of Zeti as PNB’s new chairman will enable a smooth transition of the leadership of the board of directors to ensure that investment and operations of the PNB Group are not affected.
“I believe Zeti and members of the board will be able to continue leading PNB to a higher level of success,” he said.
Wahid’s resignation follows a slew of changes in the top brass of GLCs – which forms part of the reform programmes of the new government under Pakatan Harapan.
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.
The following week saw LTH’s Datuk Seri Abdul Aziz Abdul Rahim relinquish his position as chairman.
Then came the resignation of Bank Negara governor Tan Sri Muhammad Ibrahim after having served about 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 1MDB.
Other key resignations related to GLCs in recent times included that of Telekom Malaysia Bhd’s group CEO Datuk Seri Mohammed Shazalli Ramly and Habibul Rahman, who sat on the board of Malaysia Airlines.
Last week, Malaysian Resources Corp 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.
Earlier this week, it was reported that Tan Sri Mohd Sidek Hassan had stepped down from his position as the chairman of Petronas, 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/news/nation/2018/06/30/more-heads-expected-to-roll-in-glcs-after-pnbs-wahid-attention-is-now-focused-on-lths-johan-and-ltat/#2kWIMUcd6dqywGqo.99
