Experts say govt should step back from control of some GLCs

Former head of corporate strategy at KSK Group Bhd, Pankaj Kumar said others such as highways and fuel, he said, will likely continue to see control by the government, as it decides on pricing, toll rates and concession periods.

PETALING JAYA: The government should reevaluate the necessity of holding golden shares in government-linked companies (GLCs) and take a step back from the control it exerts over some of these companies, experts said.

Giving up these golden shares, they said, would send a positive message to the market, signaling that the GLCs would be more market-oriented, independent and professionally-run.