‘Cheap’ purchase of Sacofa shares by CMS: Govt urged to clarify ‘loss of RM300 mln’

KUCHING: Democratic Action Party (DAP) questions the state government’s stance over the ‘cheap sale’ of 50 per cent of Sacofa’s shares to CMS Berhad.
State DAP chairman Chong Chieng Jen in a statement issued to the press yesterday said the acquisition of 50 per cent share in Sacofa by CMS “is definitely a superb deal for CMS. Sad to say, the gains by CMS is at the loss and expense to Sarawakians in general”.
“That is why until today, the state government did not dare to answer directly why did the state government privatise a regulatory body for telco infrastructure and turn it into a regulatory cum business entity,” said Chong.
Chong asked how under such a position of conflicting interest the government would be able to ensure that the regulatory role of Sacofa will not be compromised for its business interest.
“Was the political background and connection of CMS a factor in the privatisation exercise? There is no shortage of qualified economists in the Sarawak Ministry of Finance, why then is the Sarawak government cheap-selling Sacofa’s 50 per cent share at such low price,” he added.
Chong pointed out that based on his personal estimate on the whole privatisation exercise, the Sarawak government had been short-changed by at least RM300 million.
 TheBorneoPost December 30, 2016, Friday