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The PCG is chaired by the YB Minister of Finance II, who reports direct to the Prime Minister. Membership of the PCG consists of the heads of Permodalan Nasional Bnd, Khazanah Nasional Bhd (KNB), Lembaga Tabung Angkatan Tentera (LTAT), the Employees Provident Fund (EPF) and Lembaga Tabung Haji (LTH), and representatives from the Ministry of Finance Inc. (MOF) and the Prime Minister’s Office. Khazanah acts as the Secretariat to PCG, chairs and drives the PCG Joint Working Team (JWT) which consists of representation from all GLICs. Lead consultant to the PCG is McKinsey & Company while other consultants such as the Boston Consulting Group and Ethos Consulting, contributed to specific initiatives in the program. A Transformation Management Office (TMO) has been set up at the secretariat level to ensure the success of the program design and roll-out phase for rest of 2005 and 2006, with quarterly reporting to the PCG, and then onwards directly to the Prime Minister through a Program Monitoring Unit (PMU). The CEO of the GLIC’s will be tasked to monitor and ensure that the implementation at their GLC’s is on track, while the Chairman and CEO of the respective GLC’s will be accountable for program results at their own companies. PCG, through TMO, is undertaking a program management approach with the following 4 guidelines and action points:
  • Clear implementation applicability, responsibility and timeline for GLCs and GLICs
  • Task and equip PCG to implement and monitor
  • Establish a program management approach to implementation
  • PCG and eventually PMU within the Prime Minsiter’s Office as a channel to ensure compliance
PCG is expected to meet on a quarterly basis to assess the progress of the implementation of the GLC Transformation Program Initiatives. In this review, PCG should rely on 4 separate inputs, namely:
  1. Economic and financial performance of GLCs as reported in publicly available information;
  2. Overview from TMO of the progress in launching the various initiatives as described in Policy Thrust 4;
  3. Update by each GLIC on progress in rolling-out and implementing Program Initiatives across individual portfolio companies;
  4. Presentations by select GLCs on relevant Program Initiatives and transformation related topics.
Mainly, the PCG through the TMO will be conducting on going interviews, research and analysis with a view to continuously update and improve the Transformation Manual as a source of reference and driver of the program. PCG will also publish an Annual Report on the status of the GLC Transformation Program. This report should highlight progress achieved, made identify areas for improvement, and make recommendations with respect to policy changes, if required.

Moving forward, the PCG recommends that GLICs continuously commit and maintain to maintaining the TMO as the core team to drive the design and launch of the Transformation Program Initiatives. The responsibilities of the TMO shall be the following:
  1. Develop, evaluate and prioritise new initiatives in line with themes and objectives as;
  2. Launch the Initiatives identified above, including identify assembly the relevant working team, monitor progress, manage interdependencies across initiatives and resolve any execution issue as required;
  3. Ensure coding and disseminate of lessons/best practices from pilots and initiatives across GLCs and GLICs. For example, via the creation and dissemination of 'Books' with guidelines, workshops led by pilot candidates, facilitating the creation of ‘Centers of Excellence’ at GLICs and/or GLCs.

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