Titiwangsa MP and former minister says clear guidelines are needed to determine whether the companies go for strategic investments or maximise returns.
Titiwangsa MP Johari Ghani said Boustead was allowed to sell Hotel Royale Chulan but SP Setia was not allowed to sell land to another company.
Johari Ghani , a former second finance minister, said an inconsistent approach to GLCs could erode investor confidence and affect the performance of the government-linked companies. Johari said property developer SP Setia Bhd, owned by Permodalan Nasional Bhd, encountered a hurdle when attempting to sell a plot of land to another company as part of its mixed development plan.
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