DAP wants clarification on talks about sale of shares
DAP’s Sri Tanjung assemblyman Chan Foong Hin has sought clarification from the State Government about a recent news that MMC Corporation was in talks with Suria Capital Holdings to acquire a share in Sabah Ports published in The Edge Markets in August.
“Why Sabah Ports Sdn Bhd (SPSB), a subsidiary of Suria Capital Holdings Bhd, a management company of eight ports in Sabah since September 2004, is in talks about selling its shares to MMC Corporation, a conglomerate headed by Tan Sri Syed Mokhtar?”
Chan said it was reported that tycoon Syed Mokhtar AlBukhary’s RM34 billion in liabilities had made him one of the country’s biggest holders of corporate debt.
“I am worried if our ports are placed in his hands.
“I am made to understand that Suria Capital Holdings is making money and paying dividend to the State Government.
“How will Sabah benefit from selling shares to a non-Sabah based company when ports are our strategic infrastructure.”
Assistant Finance Minister Datuk Ramlee Marahaban denied the news even though Chan insisted that the report was obtained from The Edge Markets.
On another matter, Chan said Bursa Saham recently announced that Tenaga Nasional Berhad (TNB) would be building a coal plant in Kalimantan with a capacity of 400MW and the electricity generated would be sold to Sabah.
“What is the State Government’s stand on this issue? Building a power plant in our neighbouring country and selling back the electricity?”
Additionally, Chan wished to know the facilities that would be built alongside the Sabah International Convention Centre (SICC).
He said it was important to diversify tourism products to attract Chinese tourists, including Meeting, Incentives, Conferences, Exhibitions (MICE) tourism.
However, he was worried that SICC that was expected to complete next year would not generate return on investment.
“This is because a convention centre should be equipped with other facilities to entice tourists to spend.
“For example, the Kuala Lumpur Convention Centre is built adjacent to KLCC Suria Mall while the Marine Bay Sands Convention Centre in Singapore was built with an integrated resorts model that houses a shopping mall and casino.”
Hence, he wanted to know the facilities that would be constructed alongside SICC, such as whether there would be slot machines considering that the State Government had increased the gaming tax.
He also raised the issue of MASwings discontinuing its operations to six routes, namely Kota Kinabalu-Sandakan, Kota Kinabalu-Tawau, Kota Kinabalu-Miri, Kuching-Miri, Kuching-Kota Kinabalu and Kuching-Sibu, to be replaced by commercial flights starting next year.
At that point, Tourism, Culture and Environment Minister Datuk Seri Panglima Masidi Manjun replied that MASWings had released a statement saying that the service would be continued to 2024.