PETALING JAYA: The government does not interfere in the appointment of management companies to operate ports and only requires that Malaysian hold a majority stake in the company, says Transport Minister Anthony Loke.
He said the government's policy is solely to regulate the shareholding structure of such companies.
"For companies that operate concessions and strategic national assets including ports, the majority – 51% – must be owned by Malaysians. That is our policy," he told a press conference at his ministry in Putrajaya on Friday (July 17).
Loke was commenting on the appointment of Emirati businessman Sultan Ahmed Sulayem, the former DP World chairman and chief executive officer (CEO), as executive chairman of MMC Port.
According to the report, an internal memo dated July 12 informed that all matters previously referred to MMC Port group chief executive officer, Datuk Azman Shah Mohd Yusof, would now be channelled directly to Sultan Ahmed's office.
Loke said such appointments are internal corporate matters that do not require government approval.
"In terms of management, the government usually does not interfere. There are ports led by foreign CEOs such as the Port of Tanjung Pelepas (PTP).
Companies are free to choose who they feel is appropriate to manage the company," he said.
However, Loke stressed that any changes to a port operator's shareholding must be notified to the government, including through the Public Private Partnership Unit.
Loke said the ministry had yet to receive any notification of a change in MMC Port's shareholding from the company or concessionaire.
