ALOR STAR: Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor today claimed that there is a 'grand design' to foil private investment in the state.
The Perikatan Nasional Jeneri assemblyman alleged that companies investing in Kedah were being pressured to pull out from the announced projects.
He cited the decision by global investment leader Bin Zayed International Group of Companies (BZI) to withdraw from the RM40 billion Langkasuka project in Langkawi as an example, but did not divulge details.
"I know companies investing in Kedah are being put under all sorts of pressure. For instance, the case that I mentioned yesterday (the Langkasuka project).
"I know what kind of pressure they (the investors) are facing, but I don't want to elaborate in this House, as it might not be proper to do so. But there is a grand design to foil projects initiated by the private sector in Kedah under this administration," he told the state assembly sitting at Wisma Darul Aman, today.
Sanusi made the claim during a heated exchange with Pakatan Harapan Kota Darulaman assemblyman Teh Swee Leong, who asked for an explanation on the decision by several private investors to bail out of projects announced by the state government, including the Langkasuka project.
In responding to Teh's question while debating the Kedah 2025 Budget, Sanusi explained that the state government was doing private investors 'a favour' by announcing their proposed projects in Kedah.
"It has been explained many times that this project was a private initiative. We help private companies, such as public-listed companies, by announcing their projects to help boost their stock's value.
"That's how businesses work. They sought our help to announce the projects, so we announced them.
"Before we make any announcement, the private companies have made calculations such as GDP, locations, investment value, joint-venture partners. We did not just simply pluck it (the details) from thin air.
"However, if suddenly the projects faced problems, it is not our (the state government's) responsibility to shoulder the burden, because this is a business dealing.
"We want the project to materialise. That's why we help companies by announcing their projects. It is important to update on the project's progress, to gain people's confidence," he said.
At this point, Teh interjected and urged the state government to adopt a proper standard operating procedure (SOP) to scrutinise private sector proposals, instead of simply announcing them to the public.
To this, Sanusi hit back at Teh for failing to mention electric vehicle (EV) producer Tesla's decision to halt plans to invest in Malaysia.
"The PMX (Prime Minister Datuk Seri Anwar Ibrahim) had announced that Tesla was investing (in Malaysia), but it did not materialise. Why don't you mention that?" he asked.
Teh responded that Tesla's move did not have an impact on the country, as there were many other investors who had announced their investments in Malaysia.
"Those are not Tesla. I am talking about Tesla because he (Anwar) announced the Tesla investment. You should go and check Kulim Hi-Tech Park, how many dozens of factories are being built there... yet you don't mention it. You're just simply trying to find fault, that's all," said Sanusi.
Anwar had previously said that Tesla's decision to ditch plans to build EV factories in Malaysia, Thailand, and Indonesia, was due to business losses and competition from China.
Earlier, the media had reported on Tesla's decision to shelve plans to build factories in the three Southeast Asian nations, to concentrate on setting up charging stations.