KUALA LUMPUR: The Ministry of Rural and Regional Development (KKDW) is currently monitoring key performance indicators (KPIs) involving 100 companies and subsidiaries under the ministry.
Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said that, so far, 23 companies have been closed due to their inability to operate.
Ahmad Zahid, who is also Rural and Regional Development Minister, said the ministry would not compromise on changing leadership within companies or agencies under KKDW if their performance declined or failed to meet the set KPIs without a strong basis.
“I want board members and chief executive officers to be more active and understand the responsibilities given.
“Every decision made must prioritise the interests of the company and agency, especially in decisions involving finances, investments, or acquisitions,“ he said.
He said this during the Deputy Prime Minister and Minister of Rural and Regional Development’s Message Ceremony to the Chairmen, Board Members of Companies, and Chief Executive Officers of Companies Owned by KKDW agencies today.
Ahmad Zahid mentioned that KKDW would conduct a restructuring next July to assess the performance of each company based on the approach that will be taken.
Therefore, he proposed five steps for the transformation of companies and agencies to enhance their success, namely strategic planning, comprehensive analysis of current operations, market positioning, exploring new potential growth areas, and implementing continuous operational improvements.
He also reminded the top management of companies and agencies to act responsibly and honestly towards the company and shareholders at all times, engage in professional and open discussions, and exercise caution when taking actions.
In his address, Ahmad Zahid shared that the revenue of subsidiary companies last year reached nearly RM4 billion, with a post-tax profit exceeding RM100 million. -Bernama