Wahid: GLCs have done well

KUALA LUMPUR: Tan Sri Abdul Wahid Omar, who has played a key role in turning around several government-linked companies (GLCs), says that the view of a private think tank claiming that GLCs are crowding out private investments and are products of costly public bailouts is wrong.

“Many of the conclusions made by that policy paper were not just misleading but also erroneous,” he said in reference to a recent report by the Institute for Democracy and Economic Affairs (Ideas) on GLCs and their impact on the economy.