Kuala lumpur: The government does not interfere in management appointments at companies operating ports, including those involving foreign nationals, as long as Malaysians retain majority ownership, Transport Minister Anthony Loke said. He stated that government policy requires companies holding concessions or strategic national assets such as ports to be at least 51 percent Malaysian-owned.
According to BERNAMA News Agency, Loke emphasized that the government's role is limited to regulating shareholding in companies managing concessions and strategic national assets, including ports. He reaffirmed that the majority ownership must remain with Malaysians at 51 percent, which is the government's policy. This statement was made during a press conference on amendments to the Road Transport Department (JPJ) Act, aimed at establishing compensation provisions for accident victims and strengthening the road offence demerit points system.
Loke was addressing questions concerning international media reports about the appointment of former DP World chairman and CEO Sultan Ahmed Sulayem as executive chairman of MMC Ports Holdings Bhd. He clarified that management appointments are internal corporate matters that do not require government approval. He cited examples of ports in the country, such as the Port of Tanjung Pelepas (PTP), led by foreign national CEOs, emphasizing that the government does not interfere in management operations.
However, Loke mentioned that any changes in shareholding must be reported to the government, including through the Public-Private Partnership Unit (UKAS). He also addressed allegations of a change in share ownership involving Malaysia's largest port operator group, stating that the ministry had not received any notification from the company or concessionaire. As per Loke's knowledge, the ministry has not been informed of any changes.
International media reports indicated that Sultan Ahmed took charge of MMC Ports Holdings Bhd after the sudden resignation of its group CEO, Azman Shah Mohd Yusof.