ALOR SETAR: Kedah Mentri Besar Datuk Seri Muhammad Sanusi Md Nor alleges there is a plot to thwart private investments in the state.
According to a report by Sinar Harian, he claimed that companies investing in Kedah face pressure to withdraw from announced projects.
The Jeneri assemblyman referred to the decision by the global investment leader, Bin Zayed International Group of Companies (BZI), to pull out of the RM40bil Langkasuka project in Langkawi, although he did not disclose details.
"I know companies investing in Kedah are subjected to various restrictions and pressures. For example, the case I mentioned yesterday (the Langkasuka project)," Sanusi stated during a heated debate with Teh Swee Leong (DAP-Kota Darulaman) at the Kedah State Assembly in Wisma Darul Aman on Monday (Nov 25).
Sanusi explained that the state government merely assists private investors by announcing their proposed projects in the state.
"It has been explained multiple times that the project is a private initiative. We assist private companies, like listed companies, by announcing their projects to help boost their share value.
"That is how business works. They ask for help to announce these projects, so we announce them," he clarified.
He further added that announcing projects is also crucial for project development and public confidence.
"Before we make any announcement, private companies have made calculations such as GDP, location, investment value, and joint venture partners. The company provides the project details, and we just announce them," he said.
Sanusi stated that if the project encounters problems, it is not the state government's responsibility to shoulder the issue as it is a business matter for the involved company.
"We want the project to become a reality. That is why we help companies by announcing their projects. In the world of business or investments worth millions, no one wants to incur losses.
"Everyone wants to profit. Similarly, when we make announcements, we want to help the involved companies succeed and benefit. If suddenly the business encounters problems, it is not our responsibility to bear their problems," he explained.
Swee Leong interjected again, urging the state government to adopt proper standard operating procedures (SOP) to scrutinise private sector proposals rather than just announcing them to the public.
Sanusi quickly countered the 'attack' by bringing up the failure of federal projects related to electric vehicle (EV) manufacturer Tesla's decision to halt plans to invest in Malaysia.
"PMX (Prime Minister Datuk Seri Anwar Ibrahim) announced Tesla's investment (in Malaysia), but it did not materialise. Why do you not mention that?" he questioned.
Swee Leong defended his statement, asserting that Tesla's decision did not affect the country as many other investors had announced new investments in Malaysia.
The debate continued to heat up as Sanusi swiftly countered Swee Leong's argument.
"I am talking about Tesla because he (Anwar) announced Tesla's (new investment). Go and check how many factories are being built in Kulim Hi-Tech Park, but you do not mention that. You are just trying to find faults, that is all," Sanusi remarked.
Earlier last month, it was reported that Anwar stated Tesla's decision to cancel plans to build an EV factory in Malaysia, Thailand, and Indonesia was due to business losses and competition from China.
Media also reported that Tesla postponed plans to build factories in the three Southeast Asian countries to focus on establishing charging stations.
