Dear friends,
There are 5 Govt Linked Investment Companies (GLICs) in the country; Khazanah Nasional, EPF, Petronas, Tabung Haji and LTAT.
"Khazanah is also the key agency mandated to drive shareholder value creation, efficiency gains and enhance corporate governance in companies controlled by the government, commonly known as Government-Linked Companies, or GLCs.
See http://www.khazanah.com.my/index.htm.
COMMENTS :
Khazanah is the lead agency to enhance corporate governance in GLCs?
Yet I can't seem to find Khazanah's annual report and audited financial statements! They never publish it on their website.
Even the other GLICs like EPF, Petronas, PNB and Tabung Haji disclose theirs although some don't have to.
1) http://www.kwsp.gov.my/index.php?ch=p2reports&pg=bm_p2reports_annual&tpt=32enenen
2) http://www.petronas.com.my/internet/corp/centralrep2.nsf/frameset_corp?OpenFrameset
3) http://www.pnb.com.my/about/about_us_report.cfm?cat=1
4) http://www.tabunghaji.gov.my/th/bm/annrep.asp?lthmenu=0
And Temasek Holdings as well.
See http://www.temasekholdings.com.sg/2006review/files/05%20Group%20Financial%20Summary.pdf
& http://www.temasekholdings.com.sg/investor_relations/gpfinstatements.htm
So why can't Khazanah?
Instead we find only their media briefing cum 'marketing' slides!
See http://www.khazanah.com.my/docs/2007%20Annual%20Review%20June%202007.pdf
Perhaps an oversight?
I think this is something Khazanah should address. Their annual report and audited financial statements since the inception of the GLC Transformation prog in 2004 should be published in full. The format of such reports usually conforms to international standards and is a good way for the public to see their accounts in detail.
Since they have done well with their GLCs Transformation drive, I'm sure that we need to overlook their progress.
There are 5 Govt Linked Investment Companies (GLICs) in the country; Khazanah Nasional, EPF, Petronas, Tabung Haji and LTAT.
"Khazanah is also the key agency mandated to drive shareholder value creation, efficiency gains and enhance corporate governance in companies controlled by the government, commonly known as Government-Linked Companies, or GLCs.
See http://www.khazanah.com.my/index.htm.
COMMENTS :
Khazanah is the lead agency to enhance corporate governance in GLCs?
Yet I can't seem to find Khazanah's annual report and audited financial statements! They never publish it on their website.
Even the other GLICs like EPF, Petronas, PNB and Tabung Haji disclose theirs although some don't have to.
1) http://www.kwsp.gov.my/index.php?ch=p2reports&pg=bm_p2reports_annual&tpt=32enenen
2) http://www.petronas.com.my/internet/corp/centralrep2.nsf/frameset_corp?OpenFrameset
3) http://www.pnb.com.my/about/about_us_report.cfm?cat=1
4) http://www.tabunghaji.gov.my/th/bm/annrep.asp?lthmenu=0
And Temasek Holdings as well.
See http://www.temasekholdings.com.sg/2006review/files/05%20Group%20Financial%20Summary.pdf
& http://www.temasekholdings.com.sg/investor_relations/gpfinstatements.htm
So why can't Khazanah?
Instead we find only their media briefing cum 'marketing' slides!
See http://www.khazanah.com.my/docs/2007%20Annual%20Review%20June%202007.pdf
Perhaps an oversight?
I think this is something Khazanah should address. Their annual report and audited financial statements since the inception of the GLC Transformation prog in 2004 should be published in full. The format of such reports usually conforms to international standards and is a good way for the public to see their accounts in detail.
Since they have done well with their GLCs Transformation drive, I'm sure that we need to overlook their progress.
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