KUALA LUMPUR (April 7) The government will introduce a new legislation that will protect Bumiputera rights through government-linked companies (GLCs), once the Trans-Pacific Partnership Agreement (TPPA) is implemented, a Bernama report said today.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed was quoted as saying that several GLCs, including Khazanah Nasional Bhd and Petroliam Nasional Bhd (Petronas), are currently in discussion with the Attorney-General's Chambers on the new legislation to be known as the State-Owned Enterprises Act.
"It is, among others, to provide a level playing field for our GLCs, including Khazanah and Petronas and related enterprises, when competing against foreign companies, while ensuring they are in compliance with TPPA," he said in the Bernama report.