http://www.theedgemalaysia.com/business-news/17707-ekuinas-must-be-transparent-says-selangor-mb.html
Ekuinas must be transparent, says Selangor MB
Written by The Edge Financial Daily Wednesday, 01 July 2009 23:47
SHAH ALAM: The government has to ensure that its new investment arm, Ekuiti Nasional Bhd (Ekuinas), remains transparent and accountable for its investments, Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim said today.
He said Prime Minister Datuk Seri Najib Razak must make clear the roles of Ekuinas and its beneficiaries.
Ekuinas must also be careful not to duplicate the roles of the government's other investment arms such as Permodalan Nasional Bhd, Khazanah Nasional Bhd, Tabung Haji and ValueCap, he added.
Khalid also viewed positively the new economic liberalisation policies announced by Najib on Tuesday but pointed out that these policies must be balanced with policies to protect the local players.
"It is clear that international investors and players are likely to concentrate on those with excess funds and players with sophistication and ability to participate in the capital and financial market. If this is allowed to happen here, Malaysian banks, small-time investors and people at the rural areas will be isolated from reaping the benefits of a liberalised economy, creating further gap and disparity," he said in a statement.
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