I don’t know about you, but I got that sinking feeling when I heard that Penang Port could be privatised.
At present, Penang Port comes under the federal Finance Ministry. The government reportedly has already spent RM1 billion over the last five years to upgrade Penang Port.
Now the news is that Malaysia’s seventh richest man, Syed Mokhtar Al-Bukhary, could take over the port, as reported in the Singapore Business Times. Just how many ports do they want him to take over? His MMC already controls Port of Tanjung Pelepas and the Johor Port in Pasir Gudang.
