ALOR STAR: Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor today claimed that there is a grand design plot to foil private investment in the state.
The Perikatan Nasional Jeneri assemblyman alleged that companies investing in Kedah were being placed under pressure to pull out from the announced projects.
He cited the decision by global investment leader Bin Zayed International Group of Companies (BZI) to withdraw from the RM40 billion Langkasuka project in Langkawi as an example but stopped short of divulging the details.
"I know companies investing in Kedah are being placed under many sorts of pressure. For instance, the case that I mentioned yesterday (Langkasuka project).
"I know what kind of pressure they're facing (the investors) but I don't want to elaborate in this House as it might not be proper to do so, but there is a grand design to foil projects initiated by the private sector in Kedah under this administration," he told the state assembly sitting at Wisma Darul Aman today.
Sanusi made the claim during a heated exchange with Pakatan Harapan Kota Darulaman assemblyman Teh Swee Leong who sought explanation on several private investors' decision to bail out projects announced by the state government, including the Langkasuka project.
LINK: https://www.nst.com.my/news/nation/2024/11/1138912/sanusi-no-loss-%C2%A0...
In responding to Teh's question session while debating the Kedah 2025 Budget, Sanusi explained that the state government was doing a favour to private investors by announcing their proposed projects in Kedah.
"It has been explained many times that the project is a private initiative. We helped private companies, such as public-listed companies, by announcing their projects to help boost their stock's value.
"That's how businesses work. They sought our help to announce the projects, so we announced them.
"Before we make any announcement, the private companies have made calculations such as GDP, location, investment value, joint-venture partners. We did not just simply pluck it from thin air.
"However, if suddenly the projects are faced with problems, it is not our (state) responsibility to shoulder their problems, because it is a matter of business dealings.
"We want the project to materialise. That's why we help companies by announcing their projects. It is important to update on the project's progress and to gain people's confidence," he said.
At this point, Teh interjected and urged the state government to adopt a proper standard operating procedure (SOP) to scrutinise private sector proposals instead of simply announcing them to the public.
To this, Sanusi hit back at Teh for failing to mention electric vehicle (EV) producer Tesla's decision to halt plans to invest in Malaysia.
"The PMX (Prime Minister Datuk Seri Anwar Ibrahim) had announced that Tesla was investing (in Malaysia) but it did not materialise. Why don't you mention that?" he asked.
Teh responded that Tesla's move did not have an impact on the country as there were many other investors who had announced their investments in Malaysia.
"Those are not Tesla, I am talking about Tesla because he (Anwar) announced the Tesla (investment). You should go and check in Kulim Hi-Tech Park how many dozens of factories are being built there, yet you don't mention it. You're just simply trying to find fault, that's all," said Sanusi.
Anwar had previously said that Tesla's decision to ditch plans to build EV factories in Malaysia, Thailand and Indonesia was due to business losses and competition from China.
Earlier, the media reported on rumours that Tesla had shelved plans to build factories in the three South-East Asian nations to concentrate on setting up charging stations.