SHAH ALAM, 20 May: Menteri Besar Incorporated (MBI) is now known as the Darul Ehsan Investment Group (DEIG) to propel Selangor towards being more developed and to have a higher income.

At the same time, the state government is also developing the Selangor Makmur Agenda (Agenda) which supports the DEIG by focusing on five main aspects, namely housing, education, infrastructure, environment and health.

The Chief Minister of Selangor, Mohamed Azmin Ali, said that the move is a result of rationalising all assets and strategic changes in the businesses of subsidiaries owned by the state government.

“Over the past few months, MBI implemented the restructuring of state-owned company assets and coordination subsidiary companies’ strategies for sustainable value creation.

“The high value that would be obtained through the rationalisation process will develop Selangor as a ‘Social State’ as mentioned by Thomas Picketty about states that implement justice and equitable distribution,” he said.

He said this when launching Agenda and DEIG at the Shah Alam Convention Centre (SACC) today.

Under the initiative, DEIG functions in propelling Selangor’s investment and will implement Agenda which is supervised by the Darul Ehsan Investment Committee (DEIC) as the supervisory body.

DEIG hopes for investment returns from state subsidiary companies through equity and capital investment, in addition to expecting to invest and expand business to support the Selangor government’s agendas for social development and justice.

Earlier, the MBI Chief Executive Officer, Raja Shahreen Raja Othman, presented on Agenda and DEIG at the event.

So far, assets under state subsidiary companies are estimated to be worth almost RM30 billion, which will be developed in several industries.

These industries include property development, quarrying and mining, infrastructure, solid waste management, property ownership, communications and media, and education.

NS