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Determinants of Financial Distress: The Case of Government-Linked Companies in Malaysia

Table 2: Detailed figures for all 30 GLCs

No COMPANY Z-score Current Ratio Debt Ratio ROA Assets (Mil)
1 Petronas Gas 5.94 4.67 0.28 0.13 18,106.66
2 Time Dotcom 5.85 2.28 0.22 0.07 3,284.86
3 Atlan Holdings 4.23 2.94 0.32 0.08 934.24
4 Sime Darby 2.82 1.76 0.42 0.03 41,970.20
5 Pharmaniaga 2.18 0.79 0.72 0.03 1,674.21
6 UMW Holdings 2.14 1.82 0.51 0.01 11,944.39
7 KPJ Healthcare 2.00 1.06 0.60 0.06 5,017.91
8 KUB Malaysia Bhd 1.75 1.59 0.41 0.02 531.97
9 Bintulu Port 1.71 3.48 0.58 0.07 3,036.03
10 Gamuda Berhad 1.67 2.01 0.51 0.03 16,455.85
11 IJM Corp Berhad 1.56 2.36 0.50 0.04 21,629.82
12 Telekom Malaysia 1.52 1.19 0.71 0.04 24,669.22
13 Tenaga Nasional 1.47 1.38 0.63 0.05 157,778.02
14 Glomac Berhad 1.23 1.28 0.42 0.05 1,931.05
15 Ranhill Berhad 1.17 1.51 0.75 0.06 2,921.33
16 FGVH 1.10 1.08 0.64 0.00 19,114.48
17 Pasdec Holdings 1.09 2.00 0.36 0.03 531.40
18 Malaysia Airports 1.08 1.59 0.59 0.03 21,645.61
19 SP Setia 1.05 1.83 0.49 0.03 28,381.38
20 Axiata Group 1.04 0.58 0.62 0.03 67,802.92
21 MRCB Berhad 1.00 1.62 0.48 0.02 8,600.60
22 Bina Darulaman 0.92 1.23 0.42 0.01 871.27
23 MMC Berhad 0.87 0.96 0.58 0.03 24,677.58
24 Air Asia Berhad 0.79 0.82 0.87 0.00 21,493.77
25 Boustead Holdings 0.71 0.60 0.54 0.01 17,517.60
26 Malakof Berhad 0.66 2.26 0.76 0.03 27,970.63
27 TH Plantations 0.54 1.82 0.60 - 0.03 3,102.54
28 Media Prima Berhad 0.37 1.97 0.47 - 0.09 1,570.78
29 DRB-Hicom 0.14 0.55 0.78 0.00 43,217.67
30 Perak Corp - 0.30 0.89 0.84 - 0.06 918.45
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