GLCs had also been setting up offices needlessly across the world, which Tun Daim Zainuddin said could not continue. — Picture by Yusof Mat Isa
KUALA LUMPUR, May 8 — Government-linked corporations’ profligacy in the last decade was partially responsible for Putrajaya’s dry coffers now, Tun Daim Zainuddin said.GLCs had also been setting up offices needlessly across the world, which he said could not continue. “Back then, nobody dared to speak up. The AG, the IGP were replaced. Everyone was in fear,” he was quoted as saying.
Last month, sovereign wealth fund Khazanah Nasional Bhd announced that it was closing its offices in London and reviewing its presence in locations such as Turkey where it said a physical presence was not justified. The public gained insight into the extent of GLC pay levels last year when the Transport Ministry revealed that the Malaysian Aviation Commission executive chairman at the time earned RM85,000 monthly.
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