THE government has not detected governance breaches on the scale of past scandals involving 1Malaysia Development Bhd (1MDB) or Tabung Haji in government-linked companies (GLCs) and government-linked investment companies (GLICs), Prime Minister Datuk Seri Anwar Ibrahim told the Dewan Rakyat today.
Anwar said the government was working on legislation to strengthen oversight of government-owned entities, tighten limits on decision-making powers and hold those managing public assets to greater account.
“So far, we have not identified any breaches similar to those we inherited previously in the companies I mentioned earlier (1MDB, TH, Felda),” he said during Prime Minister’s Question Time.
He was responding to Bangi MP Syahredzan Johan, who raised concerns about political interference in GLCs and the governance failures exposed by previous financial scandals.
Anwar acknowledged the seriousness of the past failures, stressing that those appointed to manage government-linked entities must not treat them as personal or family property.
He said stronger legal safeguards were needed to prevent abuses, including through subsidiaries and other entities under government control.
On the government’s GEAR-uP programme, which aims to mobilise RM120 billion in domestic direct investments between 2024 and 2028, Anwar said politicians must not interfere in investment decisions, which should be left to professionals with the necessary expertise.
He acknowledged that efforts to tighten corporate governance could meet resistance from entrenched political and business interests.
The proposed legislation is intended to establish clearer safeguards and strengthen accountability across government-owned entities, he said, adding that meaningful reform would require the political will to challenge established interests. - October 27, 2026
