GLC bonuses, trips now need ministerial approval: DPM

GLCs and GLICs can no longer approve bonuses, incentives, and company trips on their own, said Deputy Prime Minister Fadillah Yusof.

He said they now need ministerial approval as part of a new policy decided by the cabinet.

“Usually, the cabinet only looks at ministries, departments, and agencies.

“But now, all GLCs and GLICs will need to furnish (a proposal) in the future, including for bonuses, incentives, trips, and so on, it has to go through this process,” he told the Dewan Rakyat yesterday.

He said this while commenting on an alleged planned company retreat to Bali by Pelaburan Hartanah Berhad (PHB).

Fadillah confirmed that the retreat did not take place and that there was no separate retreat to any other country.

He, however, justified the “special payments” made by PHB to its staff despite only achieving 42 percent of its KPI, citing increased profits.

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