PETALING JAYA: MCA deputy president Datuk Seri Dr Wee Ka Siong (pic) has raised concerns over the shortlisted partners for the third national car project, announced by Entrepreneur Development Minister Mohd Redzuan Yusof.
In an event in Cyberjaya on Thursday (Oct 4), Mohd Redzuan said that they were shortlisting two to three partners to participate in this project, including Silterra and CTRM, with final selection of partners by year-end.
“Silterra, which was started by Tun Dr Mahathir Mohamad during his first term as Prime Minister, is wholly-owned by our sovereign fund, Khazanah Nasional.
“Silterra is the second largest money loser for Khazanah. Silterra had cumulative losses totalling RM7.3bil for 10 years up to 2011, mostly funded by Khazanah,” said Dr Wee.
“CTRM appears to refer to Composites Technology Research Malaysia Sdn Bhd. If this is true, CTRM is a subsidiary of the DRB-Hicom Group owned by tycoon Tan Sri Syed Mokhtar Albukhary, similar to Proton Bhd,” he said.
“Due to their history, the emergence of these two companies now raises serious doubts over the promise that no public funds will be used for the third national car project,” he said.
Dr Wee said the International Trade and Industry Ministry had promised that the government would provide facilitation and assistance for the third national car project.
“This could mean government soft loans and other regulatory measures that could hurt consumers’ interest,” he added.
Dr Wee has reminded the Pakatan Harapan government’s promise that the third national project will be a private project and will not involve any public funds.