Bumiputera players in the solar energy industry are justified for speaking out against Petronas’ decision to select Solarvest Energy Sdn Bhd to install solar panels on the company’s 300 petrol stations, said former Mara Corporation chairperson Akhramsyah Sanusi.
He said Petronas had erred not because it ultimately awarded the deal to Solarvest Energy, but because it did so in a closed tender in which none of the three companies invited to bid were bumiputera-owned.
“Malays can compete in the solar space big time but not when Petronas excluded them from taking part in closed tenders!
“As Malays have matured in business since the partial success of the New Economic Policy, we seek equal opportunity and would respect the outcome if given this!” Akhramsyah (above) said on X today.
Akhramsyah added that Petronas’ decision not to invite a single bumiputera company to the tender is more grave considering that the award was made barely a week after Petronas CEO Tengku Taufik Tengku Aziz spoke on the same panel as Guntor Mansor Tobeng, who is Gading Kencana CEO, at the Bumiputera Economic Congress 2024.
He said that Guntor, a Malay, is widely known in the industry as “Malaysia’s solar king” and that Gading Kencana is an established player in the field. The company was founded in 1998.
To add insult to injury, he said, the panel was moderated by Deputy Prime Minister Fadillah Yusof.
“The grievance is real!” he said, echoing the Malay Chamber of Commerce (DPMM) which had on March 12 issued a press statement expressing unhappiness over the matter.
Akhramsyah is also the founder of Kitaran Tabah Sdn Bhd, a start-up specialising in decarbonisation strategies and sustainability.
Company chosen on merit
Earlier this month, Tengku Muhammad said the oil and gas giant did a review of bumiputera solar companies for the deal.
It had considered the bumiputera firms based on a list provided by the Solar Energy Development Authority, but none met the requirements, he said.
“I agree that in the recent contract, there was a package awarded to Solarvest but on behalf of Gentari and Petronas Dagangan, I would like to stress that the selection was based on merit.
“It was a turnkey contract, off-scale, and required to be delivered within a timeframe,” he told a press conference on March 15.
He said moving forward Petronas will improve its contracting processes to allow smaller consortia to bid “rather than looking at a single provider”.
Tengku Muhammad also clarified that the contract is worth “less than a few hundred million ringgit” and not RM300 million as estimated by DPMM.
Gentari Renewables Sdn Bhd - a wholly owned Petronas outfit - had appointed Solarvest Energy to install solar power systems at more than 300 Petronas stations across Malaysia by 2027.
Zaid: Malays won’t be able to compete on merit
Akhramsyah’s post today was in response to former law minister Zaid Ibrahim who waded into the issue by proposing that the government take over strategic industries to support bumiputera entrepreneurs.
Zaid said this would be a more productive move compared to the call by bumiputera rights NGO Perkasa for Malays to boycott Petronas petrol stations for one week to protest the firm’s decision in the solar deal.
Unlike Akhramsyah, he believed that in prevailing conditions, bumiputera entrepreneurs would “never be able to compete on merit”, because the economy at large is controlled by non-bumiputera companies.
“Do you see the difficulties the Malays have? They are expected to be able to compete and win contracts on merit, but the components in the supply chain and business environment are not under their control,” Zaid said on X.
He added that instead of supporting a boycott, Malays should back a political movement to “restore some business control in the hands of the government like we did in the 1970s”.
“Cement, other manufacturing facilities, and strategic investments in technology should remain in the hands of the government.
“Laissez-faire economics works in this country but not for the Malays.
“In this current economic model, the bumiputera entrepreneurs will have no chance,” he said. - Mkini
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