Dr M: Gov't agency invested in third national car firm on its own

Prime Minister Dr Mahathir Mohamad today acknowledged that DreamEdge Sdn Bhd, the anchor company for the third national car project, was linked to the government.

He said a government agency had made its own decision to indirectly acquire stakes in DreamEdge after seeing a new national car project about to take off.

He distanced himself from the matter by saying that he did not approve of the government agency concerned indirectly investing in the third national car project.

"I suspect it is because the DreamEdge is doing a lot of things and seems to be capable, then some other government department would like to have a piece of the cake.

"It t wasn't me who approved it but the thing has been done. So I have nothing to say," he told a press conference when attending the 21st anniversary of KLIA at Sepang today.

"Lots of government agencies, when they see something about to take off, they think they should have a piece of the cake," he said.

On Aug 9, DreamEdge, a Cyberjaya-based engineering firm was announced as the anchor company for the third national car initiative.

MCA president Wee Ka Siong then criticised the government for breaking its promise not to use public funds for the third national car project.

Wee said the direct links were clear as Venturetech Sdn Bhd was the largest shareholder in DreamEdge. Venturetech was fully owned by the Malaysian Industry-Government Group for High Technology (Might) which was in turn 100 percent owned by the government.

[More to follow]  - Mkini