Perkasa says let Lion Group leave

By Shannon Teoh

September 14, 2011

Ibrahim said Putrajaya must not “bow to such threats”. — File pic

KUALA LUMPUR, Sept 14 — Datuk Ibrahim Ali has urged the government to ignore the threat by Tan Sri William Cheng to move his Lion Group’s steel operations to Indonesia, stating that the national interest must come before that of “one or two greedy individuals.”

The Perkasa president was quoted by Utusan Malaysia assistant chief editor Datuk Zaini Hassan as saying that the decision by Blackberry smartphone makers Research In Motion to set up shop here proved that “Malaysia continues to be a destination for giant investors of the world.”

“The suggestion by Lion Group to move to Indonesia is a threat that should be ignored. What is important is that the government must be firm and not bow to such threats.

“The government must look at the interests of the country before the interests of one or two greedy corporate individuals (who believe) their interests are more important than that of the country and the public,” Ibrahim was quoted as saying by Zaini in his column titled “Is it wrong to be a Malay ultra?” today.

Lion Group chairman Cheng said earlier this week that he may consider moving Lion’s steel manufacturing operations to Indonesia if Putrajaya failed to levy tariffs on imports of hot-rolled coils from both Indonesia and Thailand, which in turn charged a 48 per cent and 43 per cent duty on the same product from Malaysia.

China Steel Corp, Taiwan’s largest steel manufacturer, has offered to buy Lion Group’s steel businesses, according to a Bloomberg report quoting sources.

China Steel had made a binding offer for Lion Group assets including Amsteel Mills Bhd and Megasteel Bhd in a deal that might be valued at more than US$1 billion (RM3 billion).

Ibrahim also added that the government should continue the Kedai Rakyat 1 Malaysia programme despite Cheng’s concern that the budget sundry shop was hurting other small retailers.

Responding to the Associated Chinese Chambers of Commerce and Industry of Malaysia president’s remarks, the Pasir Mas MP said “this group only cares about themselves” and “only looks out for businessmen but what about the interests of the public including poor Chinese and Indians?”