I have the pleasure of watching YAB PM’s speech on the New Economic Model for Malaysia this morning on TV. Out of the eight Strategic Reform Initiatives, I particularly like ‘Re-energising the private sector to lead growth’. Based on this premise and ensuring a stronger public-private cooperation, a number of initiatives were announced:
1. ‘divestments of non-core and non competitive assets that operate in areas where new strategic shareholders have the potential to enhance the creation of value’, with Khazanah divesting its controlling 32% stake in Pos Malaysia;
2. ‘in order to promote higher levels of economic investment, expansion and growth, several parcels of land in Jalan Stonor, Jalan Ampang, Jalan Lidcol, Kuala Lumpur have been identified to be tendered out and developed by the private sector’;
3. ‘Government of Malaysia and the EPF will form a joint-venture to promote the development of 3,000 acres of land in Sungei Buloh into a new hub for the Klang Valley. This will lead to over RM5 billion of new investments being made that will have an immediate effect on domestic growth, with an enormous potential for the private sector to participate in prominently’; and
4. ‘We have begun a review of a number of companies under Minister of Finance Incorporated and other agencies, and I can inform you that we are considering privatization measures related to, Percetakan Nasional Malaysia Berhad, CTRM Aero Composites Sdn Bhd, Nine Bio Sdn Bhd and Innobio Sdn Bhd with more under consideration.
It seems that a number of national core assets are being tendered out to ‘qualified bidders’ for the sake our children and grandchildren future. Or is there a need to replenish the diminishing Government coffers?
