Conspiracy poser over Syed Mokhtar’s dealings

A DAP MP alleges the government and Khazanah Nasional have transferred strategic state-owned land to the billionaire.

GEORGE TOWN: A DAP parliamentarian suspects there is a high-level government conspiracy to transfer public assets, especially land, to business tycoon Syed Mokhtar Shah Syed Nor Al-Bukhary.

Bukit Bendera MP Liew Chin Tong’s suspicion was triggered by certain dealings, in which the government and Khazanah Nasional Bhd have allegedly transferred valuable and strategic state-owned land to the control of the billionaire.

Liew said in a statement here today that most of the land transferred is in the vicinity of Kuala Lumpur, besides other parts of the country.

“Is there a conspiracy at the highest echelon of federal government?” he asked.

Syed Mokhtar is arguably the richest Bumiputera corporate figure in Malaysia.

His businesses include transport and logistics, plantations, property development, defence and armoury as well as engineering and power generation.

According to Forbes, his assets are estimated at US$1.7 billion (RM5.3 billion), ranking him the eighth richest Malaysian.

Liew said the latest purchase of Proton by DRB-Hicom gives Syed Mokhtar control over valuable land in the form of the company’s 250-acre plant in Shah Alam as well as other assets.

He pointed out that Syed Mokhtar controls Pos Malaysia, which owns several highly valuable land across the country, since last April 2011 and was currently pursuing Keretapi Tanah Melayu (KTM), which owns even more land.

Through MMC Corp, among the project delivery partners of Klang Valley MRT system, he said Syed Mokhtar would control several strategic plots of land in the Klang Valley.

“The list of companies of strategic national interests now falling into Syed Mokhtar’s hands does not end here,” said Liew.

He added that Syed Mokhtar’s flagship enterprises – MMC Corp and DRB-Hicom – were also involved in a wide array of nationally strategic sectors and industries ranging from multi-billion-ringgit defence contracts to rice and sugar to ports and independent power generation.

Liew said the tycoon was also poised to enter the telecommunications space via newcomer Puncak Semangat, which was reported to be among the biggest winners of 4G spectrum allocations.

He said the onus was on Prime Minister Najib Tun Razak, who is also Finance Minister, to clarify the federal government’s position on the issue.