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