KL wants to break up big firms without hurting stocks

Malaysia needs to review on a case-by-case basis whether it needs to hold on to its golden shares in state-linked firms, said Prime Minister Mahathir Mohamad.
Malaysia needs to review on a case-by-case basis whether it needs to hold on to its golden shares in state-linked firms, said Prime Minister Mahathir Mohamad.PHOTO: REUTERS

KUALA LUMPUR • Malaysia is considering the merits of having the state control its biggest companies, after moves to break up their dominance in sectors ranging from the Internet to electricity led to declines in Asia's worst major stock market.

The government needs to review on a case-by-case basis whether it needs to hold on to its golden shares in state-linked firms, as the 1MDB (1Malaysia Development Berhad) scandal proves that is still needed, Prime Minister Mahathir Mohamad said on Tuesday.

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A version of this article appeared in the print edition of The Straits Times on January 16, 2020, with the headline 'KL wants to break up big firms without hurting stocks'. Subscribe