Politicians not keen on reforming state-business ecosystem, book claims

Free Malaysia Today

In a new book, Edmund Terence Gomez says the complex GLC structure enables governing elites to consolidate their position in the political system.  Read More:  https://www.freemalaysiatoday.com/category/nation/2025/01/03/politicians-not-keen-on-reforming-state-business-ecosystem/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTnews #EdmundTerenceGomez #GLC #Misgovernance

Transcript

00:00Politicians are not keen to institute public governance reforms in government-linked companies,

00:07as the ecosystem makes a major political resource available to them.

00:12This is according to prominent economist Edwin Terence Gomez in his new book titled Misgovernance

00:18Grant Corruption in Malaysia.

00:20Gomez said Malaysia's four prime ministers since 2018 were well aware that GLCs offer

00:25access to public concessions and funds which could help consolidate their position in a

00:30deeply fractured political system.

00:33According to him, GLCs serve as a vast corporate base that enables the government to implement

00:39political measures.

00:41He said this relationship between the government and GLCs inevitably allows for rent-seeking,

00:46selective patronage, cronyism, and nepotism.

00:49Gomez claimed that Dr. Mahathir Mohamad merely reframed the GLC structure to consolidate

00:55his position in his second stint as prime minister.

00:58He also said the current prime minister, Anwar Ibrahim, has yet to reform the GLC ecosystem

01:04despite his anti-corruption stance.

01:06He also claimed that former Prime Minister Abdullah Ahmad Badawi merely addressed management

01:11issues in public-listed GLCs but did little to prevent the literal combat ship saga which

01:17implicated the Armed Forces Fund Board and its wholly-owned subsidiary, Bosted Holdings

01:22Berhad.

01:23Misgovernance, Grand Corruption in Malaysia is on sale at MPH and Kinokuniya, ES Light,

01:30Tutaya, and Garabudaya bookshops.

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