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Understanding the network typology of the seven government-linked investment companies (GLICs)

In: Minister of Finance Incorporated: Ownership and Control of Corporate Malaysia . Gomez, Edmund Terence (ed). (2017). Palgrave MacMillan - IDEAS, Petaling Jaya, Malaysia. 234 pp. 978-967-0960-80-7

Author

Listed:
  • Roda, Jean-Marc
  • Gomez, Edmund Terence
  • Kamaruddin, Norfaryanti

Abstract

This is a study of Malaysia’s new political economy, with a focus on ownership and control of the corporate sector. The method of Roda et al. (2015) is applied here to analyse Malaysia's corporate sector, with specific focus on the GLICs and the publicly listed GLCs they own and control. This method is sensitive to the selection threshold of shareholding links: when selecting companies linked by at least 10% ownership (and above), the results are critically biased. This is because ofthe existence of feedback loops of control through interlaced cross-shareholdings. These cross-shareholding structures allow companies to legally increase their control while displaying low percentages of direct ownership. However, by selecting all companies of a given database or the firms linked by at least 1% ownership, this would give the same rankings for the top five controlling entities in Malaysia. We find that a core of 26 corporations controls 54% of the power over the Malaysian corporate sector.

Suggested Citation

  • Roda, Jean-Marc & Gomez, Edmund Terence & Kamaruddin, Norfaryanti, 2017. "Understanding the network typology of the seven government-linked investment companies (GLICs)," Selected Book Chapters, in: Fisal, Fikri & Padmanabhan, Thirshalar (ed.), Minister of Finance Incorporated: Ownership and Control of Corporate Malaysia . Gomez, Edmund Terence (ed). (2017). Palgrave MacMillan - IDEAS, Petali, edition 1, volume 1, chapter 4, pages 177-181, CIRAD, Forest department, UPR40.
    • Handle: RePEc:epf:ecchap:11
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