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    23 April 2012| last updated at 09:07PM

    10 more companies will be disposed, says Najib



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    PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today announced the disposal of another 10 companies -- five under the Permodalan Nasional Berhad (PNB) stable and another five subsidiaries of Khazanah Nasional Bhd.

     

    The disposal was to enable all the companies to be handed back to  Bumiputera companies through open tenders, said Najib, who is also Finance Minister.
    The decision was made at the two-hour Bumiputera Agenda Action Council meeting chaired by Najib, here.
    The prime minister said the decision would facilitate PNB, Malaysia's biggest fund manager, and Khazanah, the government's investment arm, to dispose non-core businesses besides providing the opportunity to potential and proven track record Bumiputera firms to take over the companies to develop them further.
    Present were Deputy Prime Minister Tan Sri Muhyiddin Yassin, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah and Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop.
    Najib said the names of the companies would be announced soon as they need to undergo the process of getting the decision from the board of directors.
    At today's meeting, it was also decided to add 50 more Bumiputera core companies, bringing to 130 Bumiputera high-performance entities, he said.
    "The meeting was also informed that several companies which were listed have now become parent companies in their respective fields," he said.
    Najib said Ahmad Zaki Resources Bhd was an example of Bumiputera companies which have been awarded a major contract in the Mass Rapid Terminal project and a supply contract worth RM500 million within a two-year period.
    He also said the MITC Ancasa Hotel (M) Sdn Bhd was working with the Unit Peneraju Agenda Bumiputera (Teraju) in the Prime Minister's Department in the tourism industry sector.
    Under the collaboration, the MITC would invest RM100 million over the next three years to realise its expansion plan besides helping other Bumiputera companies, he added.
    -- BERNAMA
     

    Bernama photo

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