Mavcom chief operating officer Azmir Zain said abolishing the practice of having golden shares will reduce government interference in the companies’ commercial decision-making. “We are in favour of the abolishment of golden shares held by the government in aviation companies in Malaysia,” Azmir said at a press conference here yesterday. Due to the government’s golden shares in MAHB and Malaysia Airlines, Azmir said there may also be conflicts regarding appointments of senior management staff in these companies. On Jan 14, Khazanah managing director Datuk Shahril Ridza Ridzuan called on the government to do away with having golden shares in GLCs as a means of control. At the same event, Prime Minister Tun Dr Mahathir Mohamad then responded, saying the mismanagement of GLCs is among the reasons the government insists on having golden shares in some of them.

Source: The Edge Markets February 12, 2020 02:03 UTC