KUALA LUMPUR, July 9 — Changing Khazanah Nasional Berhad’s role and forcing the national sovereign fund to divest its companies to select Bumiputera individuals marks a return of crony capitalism, Datuk Seri Wee Ka Siong said today.
Responding to comments by Prime Minister Tun Dr Mahathir Mohamad that Khazanah had deviated from its original purpose to help the Bumiputera, the MCA deputy president warned the government against asking Khazanah to divest its profitable assets to a select few Bumiputera individuals.
“Forcing Khazanah to divest its profitable companies to selected individuals will open the doors for favoured or politically connected individuals to be enriched and herald a return to crony capitalism and piratisation,” Wee said in a statement.
“Who decides then to which businessman or individual Khazanah should divest its profitable assets?” he added.
He urged Putrajaya to abandon its plans to change the role and objectives for Khazanah.
