Maxis never a government-linked company

Maxis Communications Berhad has never been a government-linked company (GLC) and has since its inception operated as a private company, the Ministry of Finance (MOF) said today.

Maxis has never ever been a GLC and has, since its incorporation, been a private sector entity. Maxis has always utilised private and internally generated funds to establish and grow its telecommunications business,” it said.

The MOF said this when clarifying a Bernama report which had erroneously quoted Tan Sri Nor Mohamed Yakcop as saying in Parliament yesterday that Maxis was a GLC when it received its telecommunication licence.

In a statement, the MOF denied the Second Finance Minister had made such remarks in reply to a question from Senator Musa Sheikh Fadzir in Dewan Negara.

Maxis Communications Berhad, previously known as Binariang Sdn Bhd was incorporated in 19th December 1986 and was granted a telecommunications licence in 1993,” said MOF.

Following the listing in 2002, Bumiputera institutions including GLCs owned 18 percent of Maxis, added the ministry.-Bernama

About Kugan

Kugan is the founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy

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