The appointment of Chua Soi Lek as Penang Port Commission chairperson comes at a crucial time for the port.
One of the prime rules of journalism is, always follow the money. Where the money is, that’s where things happen. Two major factors could explain the relatively high-level appointment of an MCA leader to head the Penang ports’ regulatory authority:
1) Privatisation of Penang port and wharves’ operations could be on the cards. The politically well-connected Syed Mokhtar Al-Bukhary’s name has been mentioned in various reports. Penang Port Sdn Bhd CEO Ahmad Ibni Hajar was reported in September as saying they were also awaiting the government’s approval on plans to list the company. Big money stakes will be up for grabs if the listing does proceed. (I maintain that Penang Port should remain in government hands. Preferably it should come under the state government’s purview.)
2) And let’s not forget that major expansion and upgrading work is in store for the Penang piers, deep water wharves, container terminals and ferry operations. Continue reading »