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KUALA LUMPUR, Jan 6, 2016:

The government needs to be responsible for the sale of Independent Power Producers (IPPs) and part of the Bandar Malaysia Sdn Bhd (BMSB) development to China.

Malay Chamber of Commerce (DPMM) president Datuk Dr Syed Ali Alattas said the decision was made by “big people” and DPMM was not remotely involved but, quoting former Prime Minister Tun Hussein Onn, said leaders, once given the mandate, must do their job.

“It is up to the thinkers, they are the ones who are responsible. The chamber has no power (over the matter).

“So we don’t know. The ‘big people’ have the power. They sell.

“But remember, at the day of reckoning, heads will roll,” he said, also quoting a speech from former Prime Minister Tun Abdul Razak Hussien.

Previously, 1Malaysia Development Berhad (1MDB) president Arul Kanda Kandasamy announced the sale of 60% of BMSB’s equity to Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corporation (M) Sdn Bhd (CREC).

The sale was part of the strategic investment company’s rationalisation plan to reduce its debt by as much as RM42 billion.

1MDB had formerly sold its energy company, Edra Energy, to a Chinese firm.

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