He said government policy requires companies holding concessions or strategic national assets such as ports to be at least 51 per cent Malaysian-owned.
PUTRAJAYA: The government does not interfere in management appointments at companies operating ports, including those involving foreign nationals, as long as Malaysians retain majority ownership, Transport Minister Anthony Loke said.
He said government policy requires companies holding concessions or strategic national assets such as ports to be at least 51 per cent Malaysian-owned.
“As far as the government is concerned, we regulate only in terms of shareholding involving companies operating concessions and strategic national assets, including ports.
“The majority ownership must remain with Malaysians at 51 per cent. This is our policy,” he said at a press conference on amendments to the Road Transport Department (JPJ) Act to establish compensation provisions for accident victims and strengthen the road offence demerit points system here today.
Loke was responding to questions on international media reports regarding the appointment of former DP World chairman and chief executive officer Sultan Ahmed Sulayem as executive chairman of MMC Ports Holdings Bhd.
He said management appointments are internal corporate matters and do not require government approval.
“In fact, there are ports in the country led by foreign national chief executive officers, such as the Port of Tanjung Pelepas (PTP). In terms of management, the government does not meddle and does not interfere,” he said.
However, Loke said any changes in shareholding must be notified to the government, including through the Public-Private Partnership Unit (UKAS).
On allegations of a change in share ownership involving Malaysia’s largest port operator group, he said the ministry had not received any notification from the company or concessionaire.
“As far as we know, no. The ministry has not received any information or notification from either the company or the concessionaire,” he said.
International media recently reported that Sultan Ahmed assumed leadership of MMC Ports Holdings Bhd following the immediate resignation of its group chief executive officer, Azman Shah Mohd Yusof.
