Wednesday, October 24, 2012

GLCs no longer help Bumiputera

I totally agree with former PM Tun Dr Mahathir Mohamad that most GLCs have strayed from its original objective, which is to help elevate the Bumiputera economic status in the country.

However, the government's investment arm Khazanah which is entrusted in managing the GLCs is also 'deviating' from its original aim in ensuring that the GLCs helps nurture more Bumiputera companies by allocating them with some contracts and jobs.

Some GLCs are open to business competition while the rest keep the door shut to competitors. While used to be part of Bumiputera equity, the GLCs today are entirely government owned and no longer give emphasis on multiplying Bumiputera participation in its core business.

Sad to say that a GLC like Telekom Malaysia is so afraid of competition that it has to 'kill' a new highly-potential Bumi company for the same industry by shooing it away and not even willing to take it up as the one to complement its effort in wiring up the nation.
“GLCs are holdings in trust and were considered part of bumiputera equity,” said Mahathir (picture) at a press conference today after closing the Malay Economic Congress here. “Now the holdings belong to the companies concerned and they cannot be regarded as bumiputera holdings.”
The definition of whether GLCs are considered part of Malay equity could have implications on affirmative action programmes for Malays as many Umno leaders maintain that Malay equity stands at only about 20 per cent today, which is below the target of 30 per cent set in the New Economic Policy (NEP).
If GLCs, which comprise a large chunk of the economy and also make up a significant number of the benchmark FBM KLCI index components, were at one time considered to be Malay equity, it is possible that the 30 per cent target was exceeded in the past.
State oil company Petronas is also Malaysia’s sole representative in the Fortune 500 list of the world’s largest companies.
Perhaps, Tenaga Nasional is the best GLC to date for opening up its door to other players, especially to the Independent Power Producers (IPPs).

However, TM is so scared of competition. If not for the government policy to award few companies with the telco licenses, TM will be the only one monopolising the business. But even with the telcos, TM is still very much slow in its duty, especially in enhancing broadband penetration for the country, notably in Sabah and Sarawak.

Sorry to say that some people are managing the GLCs to their whim and fancy. They couldn't be bothered to take new approach in helping out Bumi companies that offer better services than them.

Even the government is being over-protective in safeguarding the interest of some GLCs to the extent that it can ask the banks not to approve financial assistance or loan to any qualified Bumi company that operates a better and more-advanced service than the GLCs.

Yes, it happened and is happening again. It won't be good if I reveal but some people are aware of it.

That's how benevolent we are, right?

19 comments:

Kontraktor Kelas D said...

what to do, bro.

the GLCs are owned by the govt now and the govt, via khazanah dan put anybody, including non-melayu and outsiders to sit at the helm of it.

i think melayu cannot anymore depend on the GLCs because they are being managed by a group of self-interest people and dont care less about the fate of bumi companies and their future.

if we look around, most companies given the GLCs contracts are non-bumi because the malays cannot afford to match them in giving big kickbacks and other things.

do you agree with me?

pro-Pakatan said...

serious allegation there, bujai.

why dont u name the bank which was asked to cancel loan to the bumi co?

thats why i said change the govt after the general election!

tauke lim said...

its always the same pool of companies and contractors getting jobs from these GLCs, sir.

of you are a new player - although with good capacity and capability - they wont consider you!

that also u dont know aaar!!!

penangan said...

salam tuan,

peranan GLC sejak 10 tahun kebelakangan ini sudah banyak membelakangkan kepentingan bumiputera.

mereka lebih gemar mencari nama dan projek besar daripada membantu meningkatkan penyertaan bumiputera di bidang perniagaan, sekaligus melembabkan proses penguasaan ekuiti 30 peratus di bidang ekonomi.

kerajaan seharusnya meneliti semula peranan GLC ini kerana ia tidak langsung memberi kesan kepada usaha membantu orang melayu dan bumiputera.

Anonymous said...

GLC ni apa?

milik siapa?

milik orang kerajaan je, milik orang kuat barisan nasional dan umno je!

mana melayu lain ada peluang untuk hampiri mereka ni?

hampeh!!!!

Anonymous said...

bro,

i know which bank u were referring to.

CIMB, right?

but u know bloody well who leads the bank. its najib's brother lor!

umnomore! said...

GLC ni tak ubah sebagai institusi untuk menjaga dan menjamin kekayaan orang umno dan mereka yang ditugaskan menjaganya.

tak lebih dari itu!

percayalah!

GoldTrex said...

Assalamualaikum Tuan Just Read,

Bukan saja GLC tak support bumi lagi, depa juga tak faham tentang strategi pembangunan negara Malaysia.

Khazanah beli hospital di Turkey, office blocks di London, melabur di USA, dan lain-lain negara luar. Berbangga bangga pula dengan IPO terbesar di duina.

MARA pun beli hotel di Australia.

Kalau Khazanah tidak mahu melabur di Malaysia, macam mana syarikat yang pro-bumi akan bertambah di Malaysia? Tanpa syarikat2 ini di mana graduan2 melayu akan dapat mencari kerja?

Adakah Khazanah ingat SME dan IKS yang rata-ratanya kepunyaan orang China akan menawarkan pekerjaan kepada orang Melayu, terutamanya graduan2 melayu?

Adakah Khazanah berpendapat itu masalah orang Melayu dan tidak kena mengena dengan Khazanah?

Sebenarnya tidak terlalu salah kalau orang Melayu menuduh Khazanah dan GLC-GLC adalah pengkhianat bangsa dan negara. Maka segeralah sedar dan kembali ke pangkal jalan.





Anonymous said...

the GLCs are fast becoming a political avenue for those in power.

dont u believe it?

yang arif said...

GLC hari ini bukan lagi untuk melayu tetapi untuk pemimpin melayu dalam umno.

yang dilantik pegang jawatan tinggi dalam GLC pun adalah orang yang umno pilih sendiri.

khazanah pula tidak lagi mainkan peranan membela syarikat melayu kerana terlalu asyik cari pelaburan di luar negara.

siapa yang kaya, selain kerajaan? orang melayu yang masih merempat di sekeliling mereka terus dibiarkan merana tanpa pembelaan.

GLC kini umpama makan darah orang melayu sendiri!

Anonymous said...

GLC means government low class.

they make tonnes of money from the GLC but didnt disburse it to the bumi companies.

they control everything, from A to Z and enjoy the benefit among them.

the rakyat, esp the malays remain to suffer!

Anonymous said...

Malays like Anwar and Khairy should be vilified for putting their own interests above that of their Bangsa, Agama dan Negara.

Non-bumis have successfully "networked with financial gains" with people like them.

saya suka anwar said...

alaaa...

sampai bila bumiputera ni perlu disuap je, diberi kontrak terus, subsidi dan macam2 lagi.

kata 1malaysia, sepatutnya semua kaum dapat layanan sama.

oleh itu, undilah PAKATAN RAKYAT!

Anonymous said...

why is azman mokhtar still leading khazanah?

look at him and his friends, all filthy rich!

Anonymous said...

So some are jealous of Azman Mokhtar. What is they had been the one instead?
Really not everybody can get it-that's why there will always be complains!!

Anonymous said...

telekom bukan gomen punya tapi kepunyaan budak2 malay college.

bila nak project, budak mcoba ngaku melayu. dapat saja cakap mcm dia bukan melayu.

dia orang ni sampah melayu mcm salah seorang penuntut mcoba bernama anwar ibrahim

Anonymous said...

alaaah mcm buat terperanjat pulak, sebab tak dapat. kalau dapat, tentu senyap jer hahaha. tau takpe...hipokrit...

GLC ni rosak sejak zaman mader lagi. zaman tu lah paling terok politik wang umno, masing masing rogol glc bergilir gilir, single dan gangbang, semua ada...cara tercepat nak jadi kaya. zaman mader lah mula melayu rosak besar besaran, materialisma, hedonisma, spa, gro centre & karaoke penoh dgn melayu...yg serve arak melayu, yg minum pun melayu....

dan waktu mader lah billionaire bukan melayu bertapak dengan bisnes given in silver platter....mcm org dah lupa plak...

azman mokhtar cuma sambung tradisi saje...precedent dah set. kalau tarok siapa pun sama jer, kalau tarok anwar-lge-poknik, lagi hancus!! ustaz mcm si badrool seks tu agaknya yg run the show!!

sekarang ni ok lah skit, cuba buat duit overseas pulak, kalau kena rogol pun, nak rasa flaver omputeh kot...

tak salah kalu orang cakap, glc ni dari dulu, hanya servis puak tertentu jer, small elite grup of people, both malay and non malay terpilih...

yg dapat happy, yg tak dapat akan mengamuk dan mula berlagak baik mengadu domba meminta keadilan...

yu olls ni 2x5 jer, tau takpe...

at least sekarang glc mula make real money...tak kan lah asyik kena rogol free jer...

hahahaha..jgn lupa, siapa bawak masuk anwar dalam umno? siapa pilih dolah & keluarga nya jadi pm? siapa hilangkan kuasa raja? siapa melahirkan tradisi zaman politik wang melampau? hmmm tau takpe... nasib baik sekarang dah tak macam dulu, kalau tak, laaaagiii hancussss....

rakyat tak buta, tak pekak, tak bodoh. PKR jgn perasan pulak u olls ni a valid alternative. org dah bagi chance satu penggal - terabur mak datuk, gila kuasa lupa diri, tak sabar sabar nak jahanam kan melayu dan islam, nampak sgt tak sempat sempat. Pejuang lgbt dan gologan laknatullah pun jadi org terhormat korang? bodoh!!

Mat said...

Dah laa projek besar2 dan penswastaan disapu dek GLC. Tender pun nak kena lawan dengan GLC. Kalau bukan GLC, syarikat Syed Mokhtar je. Yang tinggal tender dekat JKR, projek besar2, syarikat proksi Cina, yang tinggal, 20-30 juta. Itu pun 70-80 syarikat masuk tender.

Bumiputera banyak bakat. Sebab tu ramai jadi profesional, kerja konsultan dan sebagainya.Malangnya yang jujur dan straight boleh meleleh air liur aje laa.

Nak kata BN teruk? Selangor, Penang, Kedah pun sama laa. SEDC semua bagi projek pada kroni2. Kelantan? Lagi teruk. Projek takde, balak boleh laa, tu pun sub-kontrak pada cina. Pakai laa kopiah ke, serban tajam ke, sama je, nampak duit, nampak betina, lupa dunia.

Anonymous said...

betol tu mat ! yang duduk di tempat decision making kerajaan pusat ke , glc ke, state ke - especially yg berkopiah, berjanggut, atau yg selaaaluu kelihatan luaran nya pi haji dan beratus kali pi umrah - ubat dia satu jer, tunjuk duit skit, bagi kelibat pant*t - hmmm...settle.... ...lagi teruk dari yg tak berkopiah berjanggut ! peniaga cina faham sangat benda nih, jadi bualan dan lawak jenaka mereka seharian .....