PM: Let bumi vendors survive

  • Nation
  • Saturday, 30 Jul 2005

KUALA LUMPUR: Government-linked companies (GLC) have been warned not to betray bumiputra vendors and suppliers by pushing them out of their niches. 

This warning was issued by Prime Minister Datuk Seri Abdullah Ahmad Badawi. 

“I want the GLCs to take heed of this.  

“We have bumiputra companies, that have put a lot of capital into their business to become suppliers.  

“It is important that they are allowed to go on and progress,” he said.  

“The GLCs should not betray the bumiputra suppliers.  

“It should not be that when the GLCs see that there is profit to be made in those sectors, they suddenly decide to set up their own subsidiaries and ‘crowd out’ the bumiputra suppliers.  

“They can’t do this. That is tantamount to betraying the bumiputra vendors who have already invested a lot of money in building up its business and training their people,” he told reporters yesterday after launching the GLC Transformation Programme. 

At last week’s Umno general assembly, speakers raised the issue of the GLCs trying to take over businesses of bumiputra vendors and suppliers.  

One speaker even suggested that GLCs confined their expansion plans to ventures overseas so as not to hurt the smaller local players by squeezing them out of business here. 

In his speech, Abdullah said that transforming the GLCs would promote many national development priority projects including the development of a more competitive and resilient bumiputra enterprise community. 

This, he added, would be done through the creation of better skilled bumiputra managers and employees, more capable bumiputra vendors and suppliers.  

Datuk Nazir Razak, group chief executive of CIMB group 

“If they (the GLCs) are not ready, they had better hurry up because the Government is moving very fast.  

Yusli Mohamed Yusof, CEO of Bursa Malaysia 

“Efficient transformation of GLCs will improve investors' confidence.”  

Datuk Megat Najmuddin Megat Khas, president of the Malaysian Institute of Corporate Governance 

“People have to adopt a new sprit and new mindset. We have to purge ourselves and unlearn the sins of the past.”  

Datuk Che Khalib Mohamed Noh, CEO of Tenaga Nasional Bhd 

“A key focus is the development agenda for the bumiputra community in giving contracts to those who are capable”. 

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