KINIBIZ Government-linked companies or GLCs may blacklist US investment bank Goldman Sachs following reports that the latter obtained huge underwriting fees from the government’s strategic investment fund, 1Malaysia Development Bhd (1MDB).

Sources said this could include companies in the Khazanah Nasional Bhd stable as well as others.

GLCs, defined as companies in which the government has significant stakes and/or influence, account for over one third of market capitalisation of companies listed on Bursa Malaysia.

Some of them in the Khazanah stable include Axiata, CIMB Group, Tenaga Nasional Bhd and IHH Healthcare. Other companies in the Khazanah stable which are large but not listed include PLUS (Malaysia), Iskandar Investments Bhd and UEM Group, to mention a few.

They are also likely to include other GLC companies controlled by state investment funds such as Permodalan Nasional Bhd (PNB). These GLCs include the likes of Sime Darby and Malayan Banking (Maybank).

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