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Former Prime Minister Dr Mahathir Mohamad today said Maju Expressway (MEX) concessionaire's decision to sell off the highway concession for a profit was as bad as selling approved permits (AP) for vehicle import.
"You can only sell what you own, or else it could be as bad as selling APs," he said.
Approved permits is a federal government scheme meant to help bumiputera businessmen break into the automotive dealership industry.
"You can only sell what you own, or else it could be as bad as selling APs," he said.
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Back in 2006, Mahathir (right) had campaigned against then International Trade and Industry Minister Rafidah Aziz for allegedly abusing the system by mass awarding APs to her alleged cronies.
Met today in Kuala Lumpur, Mahathir said that MEX concessionaire Abu Sahid Mohamad had in fact met with him to justify the sale, but the former advised that the reasons behind the move be made public.
"He has claimed that he has put in a lot of money into the construction of that expressway.
"He has tried to explain to me but I told him he needs to explain to the public as to why he sold it, and why it seem that (he is) making money out of a government contract," he said.
Maju Expressway Sdn Bhd, which is 96.8 percent owned by Abu Sahid, sold the concession to EP Manufacturing Bhd for RM1.7 billion.
Pakatan Rakyat claims that Abu Sahid, who is best known for turning around the ailing Perwaja Steel, stands to make a whoppingRM1.09 billion from the deal - a 1,800 percent return on a RM60 million initial investment.
Met today in Kuala Lumpur, Mahathir said that MEX concessionaire Abu Sahid Mohamad had in fact met with him to justify the sale, but the former advised that the reasons behind the move be made public.
"He has claimed that he has put in a lot of money into the construction of that expressway.
"He has tried to explain to me but I told him he needs to explain to the public as to why he sold it, and why it seem that (he is) making money out of a government contract," he said.
Maju Expressway Sdn Bhd, which is 96.8 percent owned by Abu Sahid, sold the concession to EP Manufacturing Bhd for RM1.7 billion.
Pakatan Rakyat claims that Abu Sahid, who is best known for turning around the ailing Perwaja Steel, stands to make a whoppingRM1.09 billion from the deal - a 1,800 percent return on a RM60 million initial investment.
[More to follow]
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