PETALING JAYA: The government should disclose how much of a stake it will have in the company behind the third national car, says Datuk Seri Dr Wee Ka SiongThe MCA president asked how much of a stake the government will have in the company once its shares have been converted to ordinary shares.
This is despite Finance Minister Lim Guan Eng’s previous statement that the third national car project will not be financed with public funds. RCPS are a type of securities that investors can choose to convert into ordinary shares after a predetermined time span or on a specific date.“The conversion ratio is important as it could mean the government could end up owning more than 53% of the company, ” he said in an interview with news portal Free Malaysia Today on Saturday .
Dr Wee added that it is not an issue as to whether the government owns 53% or 10% of the ordinary shares in the company.
Has the walking corpse relinquished stake in the tertiary institution? But then, it's not necessary.
Lies after lies, one guy after another, barely 450 days in office, sick to my stomach!
Yes. Rakyat want to know. Plus we don’t want a 3rd national car. Also, government grant is an opportunity cost that rakyat have to bear. It needs to be no government involvement at all.
Why din Wee Kosong pushed for this when he was in the cabinet? Din have standing then or din believe in transparency?
This I gotta agree weekasiongmp