Government-linked companies (GLCs) have matured and are ready to face the challenges brought about by the Trans-Pacific Partnership Agreement, says Khazanah Nasional Bhd managing director Azman Mokhtar.

Azman said the current focus of the government's investment holding arm is not on protecting GLCs as they have grown strongly with the implementation of the GLC Transformation Programme 10 years ago.

"Twenty-three companies in the programme have passed the protection phase and as a group they are performing well," he told reporters after the closing of the Khazanah Megatrend Forum in Kuala Lumpur today.

Azman said Khazanah always stresses that GLCs are a commercial unit that practise good governance and also have a development role.

"I believe whatever alliance the government goes into, it is important for GLCs and government-owned companies to meet the performance criteria by continuing with their development role," he said.

However, Azman said, it is too early to talk about the TPPA without a detailed look at the final text of the agreement.

"Like everyone else, we are still waiting for the text and the announcement from the government.

"Khazanah has given feedback including with our analyses," he said, adding the TPPA could benefit the nation in certain situations.

- Bernama