Government-linked companies: Same mistakes being repeated, says economist


A prominent economist has questioned why the government is returning to the “ways of old” when dealing with government-linked companies, despite claiming it wanted to reform them.

Speaking to FMT on the sidelines of Ideas’ Third Liberation Conference on 22 September, Professor Edmund Terence Gomez said the government-linked companies system needed immediate reforms as it operated at both the state and federal levels.

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1 Oct 2018 12.01pm

Dunno how Raggie Jessy will achieve it but if he succeeds, that may be the beginning of reform of “the monster”.

“You’re going down, Mr Zahid Hamidi. I promise you that”

“When Mahathir became premier, he stuffed their coffers with ill-gotten wealth and latched them on to the coattails of his cronies. As the years went by, they were no longer the nationalists the Malays once knew but greedy warlords who ‘killed’ one another just to shine their own stars. They ended up turning money into their ‘new’ King and paid very little attention to the existing Monarchs.”

Whatever, don’t do the neo-liberal, Thatcherite, Reaganite, von Hayekist, Chicago School thing and privatise “the monster”.

Ks Loke
27 Sep 2018 7.28pm

Proof please

27 Sep 2018 3.01am

Whilst I’m not an anarchist, however the Anarchists have a saying – “Whoever you voted for, the government won”.

A non-political saying is – “The more things change, the more they remain the same”.

In his Sir John Monash lecture in mid-2017, on the government’s role in Malaysia economy, Gomez presented details from his then upcoming book which showed that politically connected persons headed Malaysia’s top corporations during the times of Mahathir, Abdullah Badawi and during Najib’s first term, though the top corporations since the 2013 elections were mostly professionally run and managed GLCs.

Now that we have Mahathir back in the saddle, can we really expect much difference?

Joshua Lim
27 Sep 2018 12.51am

pengundi PH da kena tipu ke?

26 Sep 2018 11.57pm

I’m not an anarchists, but the Anarchists have a saying – “Whoever you voted for, the government won”.

Another saying is – “The more things change, the more things remain the same”.

Perhaps, things may change if Anwar becomes PM but when, dunno.

“Parti Rakyat Malaysia (PRM), independent candidate Stevie Chan Keng Leong and former MIC secretary-general Datuk S. Kumar have said they would be contesting the parliamentary seat, formerly known as Teluk Kemang.”

PAS could also be contesting.

If I was in PD, I’d vote PRM, irrespective of whether they win or lose.

Meanwhile, check out my blog – Politischeiss