Parliament: Bumiputera, Islamic Institutions Must Set Example In Good Governance - Anwar

KUALA LUMPUR, Oct 27 (Bernama) -- Government-linked institutions mandated to safeguard the interests of the Bumiputera community and Muslims must set an example in good governance, particularly in upholding integrity, transparency and accountability in management, said Prime Minister Datuk Seri Anwar Ibrahim.

He said the institutions should uphold more stringent governance standards to ensure they fulfil their responsibilities effectively.

He said the mandate to safeguard the interests of certain groups should not be used to justify management weaknesses or practices that run counter to good governance principles.

“It is true that most government-linked investment companies (GLICs) and government-linked companies (GLCs), although wholly owned by the government, are also entrusted with protecting the interests of the Bumiputera community or, in the case of Tabung Haji, Muslims. That is why governance principles should be applied more rigorously.

“I believe we should set a good example in upholding Malay and Islamic values. We must not allow the current situation to create the impression that institutions associated with the Bumiputera community or Islam have poorer governance than other companies,” he said during the Minister’s Question Time session in the Dewan Rakyat today.

Anwar said this in response to a supplementary question from Syed Saddiq Syed Abdul Rahman (MUDA-Muar) on how to ensure GLIC investment funds were managed responsibly and not used to rescue large companies in financial distress.

The Prime Minister also stressed that governance shortcomings must not bring disrepute to institutions tasked with safeguarding the interests of the Bumiputera community and the Muslim community.

Responding to Syahredzan Johan (PH-Bangi), who asked about the role of GLICs and GLCs in advancing development and public welfare, Anwar said the institutions should consider national priorities in carrying out their mandates, including housing, educational facilities, heritage preservation and local economic development.

He said GLICs' and GLCs' involvement in projects that benefit the public was not new, but part of their responsibility to support the country’s long-term development.

“There have been views that housing should not fall under Petronas’ mandate. That is incorrect, as Petronas was involved in Putrajaya Holdings, with Petronas funds used to develop Putrajaya from the beginning.

“Putrajaya is more than just a government centre, with hotels, public and private sector facilities, and investments across various sectors, including tourism. Previously, GLICs also developed accommodation for Malaysian students studying abroad, including in Canada, South Korea and the Netherlands,” he said.

He said the development of Kota MADANI in Putrajaya was among the initiatives undertaken, focusing on providing accommodation for civil servants to address housing challenges in the area.

On community development, he said 500 villages and 1,700 schools had benefited from the Kampung Angkat MADANI and Sekolah Angkat MADANI programmes, which involved GLICs and private companies.

-- BERNAMA