KUALA LUMPUR: The Government denied allegations that Ekuiti Nasional Bhd (Ekuinas) had suffered a loss of some RM400mil over an acquisition of land in Singapore.
Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar told the Dewan Rakyat Monday that Ekuinas has an external outsourcing programme and the company picked to implement it had yet to make any investments.
“The company concerned is one that is viable in the private equity sector and has undergone a selection process.
“The funds have been provided and will be invested in a company which fulfils the criteria needed,” he said in response to a supplementary question by Mohamed Azmin Ali (PKR-Gombak) during Question Time.
Azmin had asked the Government to explain the problem faced by Ekuinas when acquiring a land in Singapore, resulting in an estimated loss of RM400mil.
Abdul Wahid also rubbished allegations that the New Economic Policy (NEP) had failed to achieve its objective, saying that it was actually a “lack of Bumiputera corporate equity achievement.”
“When the NEP was initiated, the Bumiputera corporate equity level was at 2.4% in 2011, but it has spiked to 3.5%,” he said.
He also noted that the policy needed more support from the private sector as the size of the economy involving the public sector was comparably smaller, which made up only 42% of the overall total of RM947bil last year.
“The public sector’s economy size is much smaller compared to the private sector. If we were to consider the employment of workers, the public sector provides the opportunity for some 1.5 million people, which is about 11% of the nation’s total workforce,” he said.
Parliament: Government denies Ekuinas lost RM400mil over land buy in ...
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