A government-linked company or GLC refers to a corporate entity partially or wholly owned by the government through a holding corporation. A GLC can be a private or a public listed company, operating independently through its own business indicators and KPIs.
Following is a list of 10 GLC companies in Malaysia you may want to work with:
Founded in 1974, Petronas or Petroliam Nasional Berhad was shouldered with the oil and gas operation in the country, and later quickly grew its operation in more than 30 countries worldwide. In 2008 and 2009, Fortune magazine listed Petronas among the 100 largest companies in the world, the only Malaysian company which has achieved the feat. In the recent time, the company also revamped its salary structure, giving fresh graduates one of the highest paid around.
Currently the largest bank in Malaysia, Maybank has also expanded its operation beyond the country’s shore which include Singapore, Indonesia and Philippines. Its Indonesian venture was recently surrounded with controversy but that does not stop the bank from receiving awards, one after another. Last month, Maybank was named as the Overall Best Domestic Private Bank in Malaysia by Asiamoney during the annual Private Banking Poll.
Telekom Malaysia (TM) underwent its most pleasant turnaround under the helm of Datuk Wahid Omar, who introduced result-oriented approach and put emphasis on customer-driven approach. The TM Point facelift we see today is highly attributed to this guy, which has since left to become the new chief of Maybank. TM is Southeast Asia’s second largest telco company, with an almost complete monopoly on the country’s fixed line network. Whether the services are really up to the standard is still a question to address.
With close to RM70 billion worth of asset, Tenaga Nasional Berhad (TNB) is presently the largest power and utility company in Southeast Asia. The company’s main business interests are in the generation, transmission and distribution of power and electricity. TNB’s CEO, Che Khalib Mohamad Noh, who lead the company to achieve a record profit of RM4.2 billion, was named as Malaysia’s CEO of the year in 2008. In reward, he was paid more than RM1 million in compensation.
The Sime Darby company we see today is a result of a gigantic merger between of the old Sime Darby, Golden hope and Guthrie, which gave birth to the world’s largest plantation based corporation. However, the core businesses have now diversified into other fields including property, industrial, motors, energy, utility, healthcare and so on. The company now a massive number of more than 100,000 employees working in more than 10 countries worldwide.
If you want to work with CIMB, be prepared to work hard and rewards will come. The company does not have problems to pay up to more than 10 months bonuses if you perform really well. Just look at the CEO, Datuk Nazir Razak, who became the highest paid GLC CEO with total earnings of about RM10 million. CIMB also has a long list of accolades under its best, such as Islamic Banker of the Year, Best Domestic Provider, Best Malaysian Equity Fund and Best Retail Banking Innovation Award.
Being the country’s no. 2 car maker, Perodua or Perusahaan Otomobil Kedua wasn’t given much face and hope during its early formative years. But it persevered and proved itself not just another side kick in the corner, producing cute looking small and compact cars for the local and overseas market. The company has today proved that it won the hearts of Malaysians with many best selling cars, including Myvi, which outsold Proton Wira in year 2006.
UMW is one of the country’s biggest locally owned companies, with a diverse range of portfolio ranging from automotive, manufacturing, engineering, insurance, agriculture and so on. It was originally founded by a local 14-year folk by the name of Chia Yee Soh, before it changed hands and eventually ended up controlled by the Malaysian government. Its reputation and size later led to its partnership with the Toyota Motor Corporation of Japan.
As the largest media group in Malaysia, Media Prima Berhad controls several television networks, newspapers, publications and radio stations. A series of TV network acquisitions saw Media Prima becoming the sole owner of all private free-to-air television network in the country. Apart from the local operation, the company also has spread its wings overseas, with its first off-shore venture secured in Philippines last year.
Proton has its fair share of good and bad things. It was a promising year in 1983 when former Prime Minister Tun Dr Mahathir Mohamad unveiled the beginning of Proton and the launching of Proton Saga 2 years late. However, it suffered a number of drops and instability in the organization before the company pulled Syed Zainal Abidin from Perodua and made him the MD in 2006. Syed was quick to jump into action by initiating new models and customer retention strategy.