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25 September 2006

GLC TRANSFORMATION PROGRAMME ON TRACK

Today, Second Finance Minister, Y.Bhg. Tan Sri Nor Mohamed Yakcop, launched an additional three Initiatives as part of the GLC Transformation Programme at the Eleventh Meeting of Putrajaya Committee for GLC High Performance (PCG 11), which was also attended by the CEOs of the G20.

The three Initiatives launched today are:

  1. Initiative 4: Programme for Managing Regulatory Environment
  2. Initiative 5: Silver Book (Achieving Value through Social Responsibility), and
  3. Initiative 10: Programme on the Framework for Continuous Improvement.

The GLC Transformation Programme is shifting its focus towards more operations-based Initiatives, in line with the overall Programme direction. The theme moving forward “from managing initiatives towards managing results” marks that natural progression of the Programme, and the three Initiatives launched today further reinforce that progress.

Initiative 4 on Managing Regulatory Environment, is a mid-to-long term programme. It seeks to strengthen the GLCs’ regulatory capabilities – especially GLCs in the telecommunications, airlines and utilities sectors –
to shape and execute their regulatory agenda.

At the end of the programme, the GLCs should be able to engage more effectively in dialogues with Policymakers, Regulators and other key stakeholders such as Non Governmental Organisations (NGOs) and consumer groups. The outcomes of the programme will be codified into a White Book.

Initiative 5, or Silver Book, has three key objectives. These are to clarify expectations on the GLCs’ contribution to society, to guide the GLCs in evaluating their starting position in contributing to society, and to provide the GLCs with a comprehensive set of tools, methodologies and processes to proactively contribute to society in a responsible manner while still creating value for their shareholders.

With the Silver Book, the GLCs are expected to formulate a comprehensive policy on their contributions to society that goes beyond corporate philanthropy. In doing so, the GLCs will be able to meet the aspirations of the Ninth Malaysia Plan, as well as the recently announced 2007 Budget.

Initiative 10’s core emphasis is grounded on the philosophy of continuous improvement. This Initiative is aligned with Policy Thrust 4 of the GLC Transformation Manual, which advocates the adoption of corporate best practices within the GLCs.

Many of the GLCs are already implementing some form of operational enhancement initiatives.With the continuous improvement programme, it is envisaged that the GLCs will further reinforce this mindset of continuous improvement in their day-to-day operations.

This programme will be rolled out over the next six months through a series of workshops, seminars and circles. At the end of the programme, the outcomes will be codified into the Yellow Book.

Y.Bhg Tan Sri Nor Mohamed Yakcop said: “The implementation and operationalisation of these three Initiatives will also facilitate greater clarity, clearer guidelines and stronger endorsement to GLCs in setting their targets in relation to their social and business objectives.”

He further adds that the Government is fully committed and determined to drive the development of GLCs. “We want our GLCs to be robust to ensure that they are well positioned to handle and face the challenges of the 21st century.”



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