Gov’t moots appointing good governance officers at GLCs, SOEs

TANGKAK: It is time to enhance good governance in all government-linked companies (GLCs) and state-owned enterprises (SOEs), Minister in the Prime Minister’s Department Datuk Paul Low Seng Kuan said today.

He said this could be done by appointing officers in charge of monitoring good governance practices at all GLCs and SOEs.

The Administrative and Integrity division of the Prime Minister’s Department, together with the National Audit Department and Finance Ministry, will be looking at SOEs, as many lack good governance practices.

We have to implement the need for certified governance officers who will look into fraud and other integrity issues, he said after launching ‘The Exit Centre’ at the Tangkak District Drug Rehabilitation Centre at Bukit Kangkar here today.

Low said this when commenting on the Felda Global Ventures Holdings Bhd (FGV) tussle.

He said that when it comes to allegations of wrongdoing within a GLC or SOE, members of a board of directors must play are role in conducting internal investigations.

Independent directors on the board must also adopt a more active role and have the courage to make a stand when something is not right.

And those who speak up must be listened to, supported and protected, he said.

Low added that FGV, being a GLC and public company, needs improvement in good governance, and the board has to ensure it has accountability.

Source: Malaysian Trades Union Congress