SHAH ALAM, 18 Aug: The establishment of Darul Ehsan Investment Group (DEIG) is to increase profits and to reduce investment risks while being under Menteri Besar Incorporated (MBI) enactment.
The Chief Minister, Mohamed Azmin Ali (PKR-Bukit Antarabangsa), said that the practice was done before, it would bring direct risk to the state if place under MBI.
He said that DEIG is an economic parent company that is responsible for conducting all investment under the full ownership of Menteri Besar Incorporated (MBI).
“MBI has assets worth RM6.3 billion and 12 subsidiary companies under it and DEIG will not act as their competitors.
“From the capital structure, DEIG does will not make capital loans, has not assets and is a subsidiary that will begin operations in the first quarter of 2016,” he said at the Selangor State Assembly (DNS).
The question of DEIG’s establishment caused confusion among Assemblymen at the DNS session this time.
Among those with questions are Yeoh Bee Yin (DAP- Damansara Utama), Lau Weng San (DAP-Bukit Tunku), Ng Suee Lim (DAP-Skinchan), Tan Sri Abdul Khalid Ibrahim (BEBAS-Pelabuhan Klang) and Sulaiman Abdul Razak (BN-Permatang).
They also expressed concern that DEIG cannot be audited and the DNS cannot be informed about its developments.
NS
