SHAH ALAM: Prime Minister Datuk Seri Najib Tun Razak said today the tender process for the sale of shares of government-linked companies (GLCs) is done in a fair and objective manner.
“We are learning from what has been done in the past. We should make a more transparent and objective evaluation.
“We will carefully scrutinise everything and only give it a go if we are satisfied with it,” he said at a get-together with over 800 retired senior government officers, here yesterday.
Najib was responding to the welcoming address earlier by a representative of the group, Datuk Zainal Abidin Nordin, who is former Land and Cooperative Development Ministry secretary-general, who called for the interest of bumiputera to be safeguarded, including in the divestment of GLC shares.
The prime minister said that although the evaluation process for bidders of GLC shares was not a guarantee against failure, it would at least ensure the process was carried out in a transparent and objective manner.
Najib pointed out that GLC shares were not to be sold to just about anyone, saying that only the most qualified bidders would be successful.
“We know we should not give too much to only one or two individuals. So far, this (tender process) has been going on well,” he said, adding that there was also a need to look into the agenda to help the bumiputera economy because of weaknesses in the past.
This however, was not the fault of entrepreneurs in the past but rather, was due to the financial crises which had affected major corporations, he said.
“The government had to revive these companies. To me, we cannot rely on one or two individuals. Award to bumiputera should therefore be made based on qualification and merit, and proven track record,” he said.
He added that the government should help those who are qualified and have the potential to go far and not “rent-seekers” who are out to make a quick profit. — Bernama