The Malay Chamber of Commerce Malaysia (MCCM) warned the government today that it will face its 'day of reckoning' in regard to the sale of Bandar Malaysia to a mainland China company.
Its president, Syed Ali Alattas, was initially evasive when asked to comment on the matter, stating that it was up to those in power to be responsible for it.
“It’s up to the thinkers, they are the ones responsible. They got the power assets, so they sold them," Syed Ali said at a press conference in Kuala Lumpur.
However, when commenting further, he quoted the country's second prime minister, the late Abdul Razak Hussein.
“I want to quote the late Tun Razak and that is, ‘at the day of reckoning, heads will roll’,” he said.
1MDB last week sold 60 percent of its stake in Bandar Malaysia Sdn Bhd to a consortium consisting of Iskandar Waterfront Holdings (IWH) Sdn Bhd and China Railway Engineering Corporation (M) Sdn Bhd (CREC).
1MDB said the sale was a key part of its rationalisation plan to overcome its debt problem.
The company lauded the action as the finishing move in its rationalisation plan.
Critics have, however, panned the move, with PKR lawmaker Rafizi Ramli saying that Malaysia may soon find itself beholden to foreign interests. - mKINI
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