Where’s the ‘segulai sejalai’ in MAHB share sale?

 

I was delighted to participate in Sarawak’s annual celebration recently, witnessing the vibrant fusion of a multiracial, multi-coloured and multicultural festival.

“Gayu guru gerai nyamai” translates to “longevity, wellness, and prosperity,” a phrase that may not be widely known on this side of Malaysia.

Around this time last year, Prime Minister Anwar Ibrahim joined in the Gawai celebrations and embraced the popular Sarawak tagline, “segulai sejalai”, as the theme for Malaysia Day.

“Segulai sejalai”, or “seiring sejalan” (moving forward together) in Bahasa Melayu, emphasises the unified direction the nation should take in fostering racial harmony and relationships.

Malaysians from all walks of life should adopt this pragmatic approach and use it as a foundation in their daily lives, so said the PM.

MAHB sale

However, recent events and decisions by Putrajaya seem to stray from the “segulai sejalai” concept.

For instance, the recent decision to sell a significant stake in Malaysia Airports Holdings Berhad (MAHB) to foreign entities is concerning.

Of the 39 airports in Malaysia, 20 or so are in Sabah and Sarawak.

Did the Sabah and Sarawak governments endorse this divestment of national assets? Were they consulted and have their interests been adequately considered and protected? Is the sale aligned with their aviation aspirations?

Proponents of the sale might see gains purely from a financial perspective, with additional funds derived from privatising a listed entity.

Yet, Sabah and Sarawak solely rely on air transport for connectivity to the peninsula. Airports are crucial links between these regions.

Politically and socially, Sabah and Sarawak must retain full control over their airports. Ownership of such critical assets should not be in the hands of foreign entities driven solely by profit.

Conflict of interests

The primary conflict here lies between the financial growth desired by new shareholders and the economic development interests of the two states.

There are other essential factors, such as economic and social considerations, which must be prioritised.

Firstly, the development of eco-tourism in Sabah and Sarawak is a crucial factor that might not interest investors focused on quick returns.

Eco-tourism is a sustainable approach to tourism that emphasises the preservation of natural environments and benefits to local communities.

This form of tourism is vital for Sabah and Sarawak, given their rich biodiversity and cultural heritage.

It requires long-term investments and a commitment to environmental stewardship, which might conflict with the profit-driven motives of foreign investors.

Foreign entities might prioritise high-traffic tourist developments that could lead to environmental degradation and loss of cultural identity, undermining the eco-tourism potential of these regions.

Secondly, the control over airports is closely linked to national security and sovereignty.

Airports are not just commercial hubs; they are critical infrastructure that play a significant role in national defence, emergency response and public safety.

Allowing foreign entities to control such strategic assets could pose risks to national security.

The ability to manage and regulate air traffic, secure borders, and respond to emergencies must remain under national jurisdiction to ensure that these critical functions are performed in the nation’s best interests.

Thirdly, the economic development of Sabah and Sarawak hinges on maintaining control over their transportation infrastructure.

Airports are gateways to economic opportunities, facilitating trade, tourism and investment.

Local control ensures that airport development aligns with regional economic plans and priorities, such as enhancing connectivity to remote areas, supporting local businesses, and creating jobs.

Foreign investors might prioritise routes and services that maximise their profits, potentially neglecting less profitable but essential routes that connect rural and underserved communities.

This could exacerbate regional disparities and hinder balanced economic growth.

Communities well-being

Finally, social considerations, including the well-being and aspirations of local communities, must be factored into decisions about airport ownership.

Local control of airports allows for community involvement in decision-making processes, ensuring that all development reflects the needs and values of the people.

Foreign ownership might lead to decisions that favour corporate interests over community welfare, such as increased airport fees, reduced services, and changes that disrupt local livelihoods and cultures.

Maintaining local ownership ensures that airports serve as assets that benefit the entire community, rather than just generating profits for distant shareholders.

In summary, the primary conflict lies between the financial growth desired by new shareholders and the broader interests of economic development, social welfare and environmental sustainability in Sabah and Sarawak.

Ensuring that these critical assets remain under local control is essential for the holistic and sustainable development of these regions, aligning with their unique needs and long-term aspirations.

It appears to me that the tagline “segulai sejalai” rings hollow in the context of this MAHB sale. - FMT

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.