Experts say that while government-linked business entities have a
social agenda, they must also ensure they meet their corporate
objectives
Read More: https://www.freemalaysiatoday.com/category/nation/2024/09/07/finding-an-equilibrium-for-glcs-and-glics/
Laporan Lanjut:
https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/09/07/mencari-keseimbangan-bagi-glc-glic/
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social agenda, they must also ensure they meet their corporate
objectives
Read More: https://www.freemalaysiatoday.com/category/nation/2024/09/07/finding-an-equilibrium-for-glcs-and-glics/
Laporan Lanjut:
https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/09/07/mencari-keseimbangan-bagi-glc-glic/
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
Subscribe to our channel - http://bit.ly/2Qo08ry
------------------------------------------------------------------------------------------------------------------------------------------------------
Check us out at https://www.freemalaysiatoday.com
Follow FMT on Facebook: https://bit.ly/49JJoo5
Follow FMT on Dailymotion: https://bit.ly/2WGITHM
Follow FMT on X: https://bit.ly/48zARSW
Follow FMT on Instagram: https://bit.ly/48Cq76h
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NewsTranscript
00:00In Malaysia, government-linked companies and government-linked investment companies face
00:06the challenge of balancing business goals with environmental, social, and governance
00:11demands.
00:12Sri Murniati Yusuf from the Institute for Democracy and Economic Affairs argues that
00:18these objectives, including Wiputra Empowerment, should complement each other rather than be
00:23in conflict.
00:25Many companies have embraced ESG, with three GLICs joining the UN's Principles for Responsible
00:31Investment, a network of financial institutions working together in pursuit of sustainability.
00:37Petronas, for example, aims to cut its domestic greenhouse gas emissions from 54.03 million
00:44tons in 2022 to 49.5 million this year.
00:50Meanwhile, its subsidiary, Malaysian refining company Sindiran Berhad, is piloting a program
00:56that uses environmentally-friendly chemicals to treat sludge, recover oil, and in the process,
01:02reduce the volume of solid waste.
01:04GLCs are also tasked with fostering Bumiputra businesses through vendor programs, which
01:10Sri Murniati says must align with strong corporate governance.
01:15Meanwhile, economist Raja Rassia says while progress has been made in Bumiputra Empowerment,
01:21GLCs need a critical review to ensure transparency and competitiveness.
01:27He also called for a business charter aligned with global corporate standards to guide their
01:32success in an open business environment.
01:35Natasha Bust, FMT Business.