Najib: GLCs, GLICs to create RM7 bil business

PUTRAJAYA: Business opportunities of RM7 billion are expected to be generated by government-linked companies (GLCs) and government-linked investment companies (GLICs) this year based on their key performance indicators (KPIs), said Prime Minister Datuk Seri Najib Abdul Razak (pix).
The KPIs for GLCs and GLICs were developed by the Putrajaya Committee on GLC High Performance or PCG, said Najib, who is also finance minister.
"This KPI is inclusive, based on merit, market friendly and will help the bumiputra community to be competitive," he said after chairing a meeting of the Bumiputra Economic Council at his office here today.
"This year's initiative will see the creation of 50 new vendors through the Vendor Development Programme, nine new consortiums or anchor companies, and an increase of RM700 million through the Carve Out & Compete programme."
He said the Skim Latihan 1Malaysia (SL1M) and the Graduate Employability Management Scheme (GEMS) will be expanded and 2,123 graduates will be trained this year.
He said an estimated 1,166 scholarships will be given to bumiputra candidates, double the amount last year.
He also said that the KPIs of GLICs and GLCs will allocate an additional funding of RM1.3 billion for the construction of commercial lots and housing projects.
The GLCs have also allocated RM100 million for bumiputras in the digital service sector to encourage their involvement as well as to enrich existing talent and capacity, he added.
Najib said the GLICs and GLCs will be adopting four additional schools under the Pintar programme and 37 schools under Yayasan Amir.
He also announced the 15 lucky winners for the Skim Usahawan Permulaan Bumiputra (Superb) Second Series for 2014 which was opened from May 1 to 16. They were selected after they pitched their innovative and creative business ideas.
"I would like to encourage more young bumiputras, especially from Sabah and Sarawak, to make use of this opportunity and pitch the ideas that they have for a business.
"The third series will be opened on July 18. I hope the winners will make use of this grant and commercialise their ideas to the next level. Teraju and other government agencies will monitor the progress of their businesses and provide consultancy services to them," he said.