GLCs and construction stocks among major losers

M1's largest shareholders, which also include Malaysia's Axiata(pic) Group, had considered but eventually called off a strategic review of their holdings in the telecommunication provider last year, saying parties interested in buying those stakes did not meet certain criteria.

Government-linked companies (GLCs) and stocks that were seen to be closely linked to the previous ruling party saw major declines in absolute amount in the last six months since the general election.

GLCs have come under focus after Prime Minister Tun Dr Mahathir Mohamad, who led the Pakatan Harapan victory, called for a review on the role played by GLCs and remuneration paid to their top executives.