Privatization and Renationalization in Malaysia: a Survey
AN ARTICLE REVIEW:
PRIVATIZATION AND RENATIONALIZATION IN MALAYSIA: A
SURVEY
By Jomo K. S. and Tan Wooi Syn
Brief Summary of the Article
ABSTRACT: This article discuss about the theory of Privatization in and Renasionalization in Malaysia. This article start to review the evolution of the public policy from the colonial period and so on to the further development of the theory of Privatization starting from the very beginning of it until todate.
The article start to review about the growth and Privatisation of Malaysian State Owned Enterprise (“SOE”) until to the mid-sixties when most Malaysian State Governments began setting up state economic development corporation (SEDCs) to enhance the flexibility until the developments nowadays.
This article also discussed about the implementation of the theory in Malaysia and from the practical aspect of the writers’ point of view.
What is Privatization?
Generally, privatization has been defined in terms of the transfer of enterprise ownership from the public to the private sector. More generally, privatization refers to changing the status of a business, service or industry from state, government or public to private ownership or control. The term sometimes also refers to the use of private contractors to provide services previously provided by the public sector. Privatization can be strictly defined to include only cases of the sale of 100 percent, or at least a majority share of a SOE, or its assets, to private shareholders. Full or complete privatization would therefore mean the complete transfer of ownership and control of a government enterprise or asset to the private sector.
Malaysian Prime Minister Mahathir Mohamad’s 1983 announcement of his government’s intention to embark on a privatization policy represented a dramatic reversal of preceding
Malaysian government policy although it was very much consistent with his own personal ideological and policy preferences as well as the then new
PRIVATIZATION AND RENATIONALIZATION IN MALAYSIA: A
SURVEY
By Jomo K. S. and Tan Wooi Syn
Brief Summary of the Article
ABSTRACT: This article discuss about the theory of Privatization in and Renasionalization in Malaysia. This article start to review the evolution of the public policy from the colonial period and so on to the further development of the theory of Privatization starting from the very beginning of it until todate.
The article start to review about the growth and Privatisation of Malaysian State Owned Enterprise (“SOE”) until to the mid-sixties when most Malaysian State Governments began setting up state economic development corporation (SEDCs) to enhance the flexibility until the developments nowadays.
This article also discussed about the implementation of the theory in Malaysia and from the practical aspect of the writers’ point of view.
What is Privatization?
Generally, privatization has been defined in terms of the transfer of enterprise ownership from the public to the private sector. More generally, privatization refers to changing the status of a business, service or industry from state, government or public to private ownership or control. The term sometimes also refers to the use of private contractors to provide services previously provided by the public sector. Privatization can be strictly defined to include only cases of the sale of 100 percent, or at least a majority share of a SOE, or its assets, to private shareholders. Full or complete privatization would therefore mean the complete transfer of ownership and control of a government enterprise or asset to the private sector.
Malaysian Prime Minister Mahathir Mohamad’s 1983 announcement of his government’s intention to embark on a privatization policy represented a dramatic reversal of preceding
Malaysian government policy although it was very much consistent with his own personal ideological and policy preferences as well as the then new