Why is the Malaysian government guaranteeing debts of companies - and these are really not totally owned government companies but GLC's(government linked companies)
What are GLC's? Well, my perusal of the internet, revealed an article that these are companies where the government owned at least 20% of the issued or paid up capital. That means individuals and others could be owning the rest, and benefiting from the GLC status - and the ease of getting loans, for after all the Malaysian government has guaranteed the debt.
GLCs are defined as a company in which the government owns at least 20% of the issued and paid-up capital (Ministry of Finance, 1993) - A posting by