Perikatan Nasional hits back at UMNO’s criticisms of new joint investment firm by 4 opposition states

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Malaysia News

Perikatan Nasional,UMNO

The new investment company by the opposition-held states of Kelantan, Terengganu, Kedah and Perlis aims to bolster their economies, with the exploitation of rare earths firmly on its radar.

Malaysia's opposition leaders from the states of Kelantan, Terengganu, Kedah and Perlis pose with former prime minister Mahathir Mohamad at an event announcing the setting up of SG4 Group on Sep 2, 2024. KUALA LUMPUR: Leaders from Malaysia’s four opposition-held states have fired back at criticism from across the aisle regarding a company jointly set up by them to attract investment and boost their economies.

Analysis: What PAS’ Terengganu by-election win means for the Islamist party’s national ambitions and Anwar’s Malay powerbase Official statistics show that Kelantan , Perlis and Kedah had three of the lowest gross domestic product per capita among Malaysia’s 13 states in 2021. Terengganu came in ninth, ahead of Sabah.

Dr Puad, who is also speaker of the Johor state legislative assembly, took aim at Mr Sanusi, describing him as a person who was not fond of sharing, in a jibe at the revenue-sharing aim of the SG4 company. "I want to tell him that PN will capture Pahang, Perak, Melaka and Negeri Sembilan . We will be further expanding ,” Mr Sanusi told reporters in Kedah.

Mr Takiyuddin, who is also secretary-general of PN component party Parti Islam Se-Malaysia, also left the door open for other states to join the SG4 company if they were interested.Local media previously reported that the SG4 company will focus on five key economic clusters, with each of the four states holding 25 per cent equity.

As its ‘last samurai' chief battles poor health, frontmen from factions in Malaysia's Islamist party PAS are touted as successorDr Mahathir has said that the formation of the company is not intended to bypass the federal government, but to support the states left out from benefiting from the nation’s wealth.

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