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Sabah Finance Minister lashes out at loss-making state GLCs

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KUALA LUMPUR: The four Bersatu Members of Parliament(MP) who pledged support for Prime Minister Datuk Seri Anwar Ibrahim will remain as Perikatan Nasional lawmakers for now despite requesting a seating change in the Dewan Rakyat.

KOTA KINABALU: Most of the government-linked companies in Sabah are operating at a loss rather than making money for the state government, said Datuk Seri Masidi Manjun at Sabah International Convention Centre here on Thursday .

"There is a need for the principle of accountability in the management of GLCs and I would like to remind all GLCs that the overriding consideration of every GLC is to not only make sure that it runs well but that it makes money," he said. "If you are sitting there, you need to change your perspective, and if you are a politician, you must work in a corporate governance structure because in GLCs, you are no longer a politician.Masidi also urged GLCs to avoid competing with other GLCs, and coming up with ideas that are already in place.

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