Efficient risk management practices and internal controls are crucial for a firm’s survival. Firms that have well-developed risk management frameworks can reduce the likelihood of financial losses from risky investments. Despite the significance of risk management, Malaysian government-linked companies struggle to regain investor confidence and enhance firm value. Consequently, there is a growing societal expectation for these huge firms to pursue superior performance outcomes. Hence, this study aims to examine the role of the risk management committee on the financial performance of government-linked companies in Malaysia through a value-based indicator. This study considers a wide range of risk management committee attributes, including independence, size, qualifications, meetings, and gender diversity. The sample includes 13 government-linked companies listed on Bursa Malaysia that complied with the Malaysian Code on Corporate Governance from 2017 to 2023. The study used Pooled Ordinary Least Squares to examine the relationship between each attribute and firm performance. The findings show a strong, positive relationship between the frequency of risk management committee meetings and firm performance, thereby supporting the agency theory. This indicates that regular meetings enable the committee to acquire vital risk information about potential opportunities that could enhance economic worth. These insights are expected to furnish significant knowledge and evidence about how firms can efficiently allocate significant capital and control risks to preserve shareholder value.