Tag Archives: 100 percent equity

Still waiting for answers to MP’s queries

Pakatan Harapan’s (PH) Pasir Gudang MP Hassan Karim asked a couple of pertinent questions in the Dewan Rakyat this week regarding Elon Musk’s broadband provider, Starlink, which, he said, was given a “special privilege” to operate in Malaysia with a 100 percent equity. What is interesting to note is that Hassan’s questions — up to now — have not been answered.

Hassan claimed that Starlink was given a broadband network provider licence for 10 years and was allowed to operate in the country without the participation of local companies, which, he said, could threaten data security.

He felt that allowing foreign countries to dominate the country’s space could pose a threat to national security, adding that 100 percent foreign-owned companies operating locally were also against the country’s economic policy which required a local equity partnership of a minimum of 30 percent in such companies.

Saying that this was not a “matter to be treated lightly”, Hasan wanted the government to give more details such as which other companies have obtained privileges similar to Starlink, and who had given the approval for this sort of licence.

These are very relevant questions as the special exemption indicates a change in economic policy and has a direct bearing on the equity participation of bumiputras. Hence, it is extremely puzzling that no minister from the government has attempted to answer Hassan’s questions as yet, and Prime Minister Anwar Ibrahim must assume responsibility for this silence.

Just as puzzling is that although this is a Malay issue and a sensitive Malay issue at that, no other Malay MP has sought clarification from the PM. Even Opposition MPs who are supposed to represent the majority of Malays have failed to query the PM on this issue.

It is the same with Anwar’s billion-ringgit Memorandums of Understanding (MoU). No MP is querying the details. Who arranged for these MoUs? The finance and economic affairs ministries? How were they able to arrange for these meetings in such a short span of time? In just a year, Anwar signed a number of billion-ringgit MoUs but nobody knows the details as the only piece of information the government has released is the value of the MoUs and that they were signed.

But Anwar announces that foreign investments are coming in because of political stability under the unity government. How could these billion-ringgit deals have been set up in just one year when Anwar is not known to have close ties with the countries where the deals have been signed and with the businessmen in these countries?

Perhaps, he has powerful allies who have these connections and who are facilitating these deals. This means, these “foreign investments” are not due to Anwar’s economic policies but due to the influence of his allies. Nothing wrong with having powerful allies who help bring in investments but MPs have a right to query to ensure all deals are above board and conform with the federal constitution.

Towards that end, Anwar must be willing to give details of MoUs and privileges given to some foreigners, especially in Parliament. He can not be silent and MPs should not let him get away without answering their queries.

By readily giving information on such foreign investments, Anwar will prove that he is not beholden to these allies and in the face of a conflict of interests, he will stand up for parliamentary democracy and will not end up kissing hands and doing as suggested.