Mahathir, don’t treat Khazanah as if it belongs to you

Following is an article published by NST Online complete with responses by TTF (in blue):

Edited at 5.25 am, 6/10/2018

KUALA LUMPUR: Tun Dr Mahathir Mohamad said there is nothing wrong with Khazanah Nasional Bhd (Khazanah) and its subsidiary SilTerra Malaysia Sdn Bhd being involved in the third national car project, as they are not government entities.

TTF: Of course they’re not government entities. They belong to you, right?



…isn’t Khazanah a “Sovereign Wealth Fund?”

Tell me, does that not mean that the company is “a state-owned investment fund that invests in real and financial assets?”

And aren’t you the Prime Minister who appointed Dr Mahathir Mohamad as Khazanah chairman before telling the media that “we created Khazanah?”

The prime minister said that if Khazanah is interested, they are welcome to invest in the project.

TTF: Is that a joke?

Being the person who gets to chair all board meetings and decide the order of each meeting, you expect us to believe that you, being the Prime Minister, have no control over decisions made by the company?

Are you kidding me?

“If there are companies in Khazanah which are interested, they, too, can invest and SilTerra (could) produce microchips used by cars, planes and rockets.

TTF: Again?

“After all, Khazanah is not (part of the) government, it is private. So it’s free to run a business,” he told a media conference after chairing Pakatan Harapan’s presidential council meeting at Yayasan Al-Bukhary here today.

TTF: …and again?

So many lies in so few statements? 

He said this in response to a question raised by MCA deputy president Datuk Seri Wee Ka Siong who asked whether SilTerra would use public funds to invest in the third national car project.

TTF: Wee, any response to this?

A local automotive portal had reported that SilTerra will be involved in the national car 3.0 project.

The company, based in Kulim Technology Park, Kedah, produces semiconductor chips used in Apple products.

According to the report, Johor-based company Composites Technology Research Malaysia Sdn Bhd, specialising in the production of composite materials, will also be involved in the third national car project.

The project was announced by the prime minister in June, and he has since said that the government will be ready to launch the third national car by 2020.

TTF: Composites Technology Research Malaysia Sdn Bhd is a DRB-Hicom company, meaning, it belongs to Syed Mokhtar Al-Bukhary.

DRB-Hicom also owns Proton, which was bailed out by the Government of Malaysia (GoM) quite recently.

When Mahathir was Chairman of Proton, he was tasked with asking the government for RM3.2 billion to bail the ailing car manufacturer out.

The irony is, when he spoke of Composites Tech yesterday, he was at Yayasan Al-Bukhary, which, if you haven’t already noticed (hint: look at the name), is owned by Syed Mokhtar.

So the likelihood of Composites Tech getting a bailout if the project fails is very high.

Makes sense?

Incidentally, did I not tell you that a third national car project was slated to be launched December this year?

Source: NST Online