G20 market cap triples to rm425 billion

| 11/06/2014 | 0 Comments
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KUALA LUMPUR: The market capitalisation of 20 large government-linked companies (G20) tripled to RM425 billion as of May 16, 2014, from RM140 billion on May 14, 2004, said Khazanah Malaysia Bhd yesterday.

In a statement, the state investment fund said total shareholder returns also grew 13.4 per cent per annum over the same period.

The G20 net profit grew at a compounded annual growth rate of 11.1 per cent from financial year 2004 to financial year 2013.

“In the penultimate year of its 10-year plan, the GLC Transformation Programme continues its trajectory towards successful graduation in 2015,” said Khazanah Nasional.

The state investment fund yesterday released three reports namely The Khazanah Report 2013, GLC Transformation Programme Progress Review 2014 and 2013 Corporate Responsibility Report.

The GLCs have also paid RM93 billion in dividends and RM57 billion in taxes from financial year 2004 to financial year 2013, benefiting the people.

The G20 also supports the Bumiputera Economic Empowerment through their respective Bumiputera Empowerment Agenda key performance indicators.

“Game changing initiatives are envisaged to create various opportunities, worth an estimated RM5 billion, for the Bumiputera community in 2014,” said Khazanah.

With the completion of the GLC Transformation Programme, it said this would be the last opportunity for GLCs to push themselves to achieve the programme’s goals of operating at par with competitors in Malaysia, with several GLCs becoming regional champions.

“The Putrajaya Committee on GLC High Performance Secretariat is currently finalising a stock-take exercise to assess programme performance to date and to propose recommendations moving forward,” added Khazanah Nasional. — Bernama

Category: Business, Sarawak

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