M'SIAN PM NAJIB PROPOSES CLOSER GLC-PRIVATE SECTOR COLLABORATIONS

KUALA LUMPUR, June 24 (Bernama) -- Prime Minister Najib Razak Friday called
for closer GLCs-private sector collaborations, particularly in expanding their
joint footprints overseas.

"There can also be collaborations in catalysing new growh sectors
domestically.

"Yet, at the same time, GLCs will continue divesting non-core and
non-competitive assets," he said when launching GLCs open day 2011.

Najib said GLCs have not only performed well but have also expanded
their footprints beyond Malaysia's shores.

"We see some of these GLCs are now Malaysia's multinationals. This is
the kind of transformation we are aiming for at this crossroads in our nation's
history," he said.

Najib, however, cautioned that there was no room for complacency, but there
was ample avenue for improvement.

"One example is the Vendor Development Programme. This is a perfect means by
which the wealth generating capabilities of GLCs benefit the broader business
community.

"According to the Report Card, 130 vendors have graduated from this
programme, but there are many, many such vendors in Malaysia.

"The GLCs should reach out to more small and medium enterprises and
entrepreneurs and make that number significantly high," he added.