Penang FMM denies being part of consortium

GEORGE TOWN: The Federation of Malaysian Manufacturers (FMM) Penang Branch has denied that it is part of the consortium proposed by the Penang Chinese Chamber of Commerce (PCCC) to bid in the privatisation of the Penang Port.

In disclosing this in a press statement, the branch said FMM’s core business was not to invest in the 224-year-old port.

It, however, stated that it supported greater transparency in disclosure of the merits and demerits of privatisation, and that the calling of open tenders was considered the best option.

It was reported yesterday that PCCC wants to form a consortium to bid in the privatisation of the port.

PCCC president Tan Sri Tan Kok Ping was reported as saying that the consortium would comprise the Malaysian Indian Chamber of Commerce and Industry, Penang Malay Chamber of Commerce and FMM Penang Branch.

He had said that they were confident of raising the funds for the bid.

He also said that should they win the bid, they would public list the consortium to raise funds to enhance the infrastructure of the port.

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