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The PCG was initially chaired by the Minister of Finance II, and thereafter by YAB Prime Minister, with participation from the heads of the Government-Linked Investment Companies (GLICs) namely Khazanah Nasional Bhd (KNB), Permodalan Nasional Bhd (PNB), Employees Provident Fund (EPF), Lembaga Tabung Angkatan Tentera (LTAT) and Lembaga Tabung Haji (LTH) and representatives from the Ministry of Finance Inc. (MOF) and the Prime Minister’s Office (PMO).
Khazanah was the Secretariat to PCG, chaired & drove the PCG Joint Working Team (JWT) which consists of representation from all GLICs. Lead consultant to the PCG was McKinsey & Company while other consultants such as the Boston Consulting Group and Ethos Consulting, contributed to specific initiatives in the Programme.

A Transformation Management Office (TMO) was set up at the secretariat level to ensure the success of the programme design and roll-out phase for the rest of 2005 and 2006, with periodic reporting to the PCG.

The CEOs of GLICs were tasked to monitor and ensure that the implementation at their GLCs were on track, while the Chairmen and CEOs of the respective GLCs were accountable for programme results at their own companies.
PCG, through TMO, undertook a programme 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 programme management approach to implementation
  • PCG and eventually the Prime Minister’s Office as a channel to ensure compliance
In the early stage of the Programme, PCG met on a quarterly basis to assess the progress of the implementation of the GLC Transformation Programme Initiatives, based 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 GLC on progress in rolling-out and implementing Programme Initiatives across individual portfolio companies;
  4. Presentations by selected GLCs on relevant Programme Initiatives and Transformation related topics.
The PCG, through the TMO had conducted 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 Programme. PCG also published Annual Reports on the status of the GLC Transformation Programme. These reports highlighted progress achieved, identified areas for improvement, and made recommendations with respect to policy changes, if required.
During the Programme, the PCG recommended that GLICs continuously commit and maintain the TMO as the core team to drive the design and launch of the Transformation Program Initiatives. The responsibilities of the TMO were to:
  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.