Malaysian government-linked companies (GLCs) have released their key operating targets, in line with efforts to improve their competitiveness to boost economic growth.

The companies, which include top blue-chips listed on the country's stock exchange such as Telekom Malaysia and Tenaga Nasional, as well as troubled carmaker Proton, outlined targets for revenue, return on equity and market share for the next two years.

Top lender Maybank, the country's biggest bank, said in a statement late yesterday that it targets a return on equity of at least 18 percent in the year to June 2006, up from 17.4 percent the previous year.

It also hopes to increase revenue 10 percent annually over the 2006-2008 period.

State-owned power firm Tenaga is targeting a return on assets of 2.4 percent in 2006 from 2.2 percent in 2005, and is looking to reduce its unplanned outage rate to 5.0 percent from 6.1 percent.

Improve market share

Telekom said it aims to increase revenue for 2006 to RM17 billion (US$4.6 billion), up from RM13.9 billion.

Proton said it hopes to consolidate its sales and distribution network to improve domestic market share to 45.8 percent in the year to March 2007 from an estimated 41.4 percent a year earlier.

The barely-profitable carmaker also plans to increase exports as a percentage of revenue to 8.6 percent in the next fiscal year from an estimated 5.2 percent in the year to March 2006 well as generate sales growth of 12.4.

Flag carrier Malaysia Airlines aims to reduce its net loss for 2006 to RM620 million from the RM1.27 billion loss booked in the previous fiscal year spanning the nine-month period to December 2005.

The nine-month results represent its fiscal 2005 performance as the company changed its financial year-end to December from March beginning last year.

The ailing airline said it is targeting a cash surplus of one billion ringgit in the current fiscal year, and will focus on improving efficiency and capabilities to attain a net income of RM50 million for 2007.

Bumiputra-Commerce Holdings, the country's second largest lender, aims to raise its return on equity to 13 percent this year from 8.9 percent.

Conglomerate Sime Darby is targeting a return on equity of 11.5 percent in the year to June 2006, up from 9.8 percent, with net profit rising to RM1.01 billion from RM801 million.

Sime Darby's business activities include car distribution, palm oil plantations, property, heavy equipment and energy.

Some of the GLCs - Maybank, Telekom and Tenaga - were higher in early trade on Thursday after announcing their stronger key performance indicators, dealers said.