Government-linked companies (GLCs) in Brunei Darussalam are established under the Companies Act (Chapter 39) and are not exempted from complying with all provisions under the Act, including financial reporting, statutory filings, audits and board governance requirements.
Their performance should not be assessed solely based on financial profitability, but also their contributions towards economic development, employment creation, local talent development and national productivity, in line with international practices where GLCs and government investment companies are measured through broader economic and social impacts.
The role and performance of GLCs were highlighted by Minister of Finance II Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during the third day of the Second Meeting of the 22nd Legislative Council (LegCo) session on Thursday.
He was responding to Yang Berhormat Hajah Rosmawatty binti Haji Abdul Mumin’s question on how the ministry ensures GLCs have clear Key Performance Indicators (KPIs), including targets for local employment and talent development.
The minister said the Ministry of Finance, through Darussalam Asset and the Strategic Development Capital Fund (SDC), ensures GLCs have clear performance targets that are continuously monitored.
“Besides financial and operational performance, KPIs also focus on local workforce recruitment and development, employee competency enhancement, good corporate governance practices and long-term business sustainability,” he said.
Under the Darussalam Asset group of companies, the total workforce currently exceeds 9,000 employees, with around 86 per cent comprising locals.
The largest contributors to local employment include Jerudong Park Medical Centre (JPMC), Jerudong Park Holdings, including The Empire Brunei, and Unified National Networks (UNN).
The minister said the remaining 14 per cent of employees are foreign workers, mainly serving in the healthcare and education sectors.
He added that expatriate employees also support knowledge transfer and the sharing of industry expertise with local employees to meet international standards.
On talent development, he said various initiatives have been introduced, including leadership development, board member development, professional training, continuous learning through the Darjah Learning Management System, as well as the DPS Cadet Scholarship, JPMC Nursing Scholarship and UNN Training Academy.
These programmes aim to establish a sustainable talent pipeline for the future.
Meanwhile, GLCs with foreign investment involvement under the SDC Fund employ 3,222 workers, of which 52 per cent are local citizens. The largest employers under this group are Hengyi Industries Sdn Bhd, Brunei Fertilizer Industries Sdn Bhd (BFI) and Brunei Methanol Company Sdn Bhd (BMC).
To support the development of skilled workers in the sector, the minister said Hengyi Industries has provided engineering scholarship opportunities to 935 students.
By the end of 2025, Hengyi had achieved a local workforce participation rate of more than 50 per cent, exceeding the target set under its implementation agreement.
He added that BFI continues to support local career advancement through professional training and organisational restructuring to encourage employees to take on higher positions.
BFI and BMC have achieved local workforce participation rates of 80 per cent and 95 per cent respectively.
The minister also noted that foreign direct investment (FDI) in strategic sectors, including aquaculture, agriculture and technology, continues to contribute towards human capital development in Brunei Darussalam.
(news source: Borneo Bulletin ; pic source: Info Foto, Jbt Penerangan)
