Proton-DRB deal part of a larger land grab exercise?

A conspiracy within the highest echelon of the federal government and its investment arm Khazanah, plots to transfer valuable and strategic parcels of land to the control of local business tycoon Syed Mokhtar Al-Bukhary, claims the DAP.

“The latest purchase of Proton by DRB-Hicom gives Syed Mokhtar control over valuable land in the form of the company’s 250-acre Shah Alam plant, as well as other assets of which the book-value is low and not revalued,” its international secretary Liew Chin Tong (right) said in a statement today.

Liew also mentioned other cases which he believes are of the same vein:

• Syed Mokhtar’s takeover of Pos Malaysia in April 2011, means he effectively controls acres of land around the country, currently vested with the Federal Land Commission.

• Syed Mokhtar is also pursuing KTM which owns even a bigger landbank nationwide.

• Syed Mokhtar-owned MMC Corp is also a MRT “project delivery partner” which will allow him the usage of strategic land in the Klang Valley.

Going through the list of companies of strategic and national interests which fell into Syed Mokhtar’s (right)hands, Liew claims that the tycoon’s flagship enterprises MMC Corp and DRB-Hicom are involved in a wide array of nationally strategic sectors and industries; from multi-billion defence contracts to rice and sugar, to ports and independent power generation plants.

He claimed that the businessman is also poised to enter the telecommunications sector via newcomer Puncak Semangat, which has been reported to be among the biggest winners of 4G spectrum allocations.

“It begs the question whether there exists a conspiracy at the highest echelon of the Federal Government to transfer assets, especially land, to the hands of Syed Mokhtar in the event of a change of government in the next general election.

“Prime Minister Najib Razak who is also finance minister must explain the government’s position on this matter,” added Liew.

As at press time, Malaysiakini’s attempts to contact DRB-Hicom for comment have been unfruitful.