SHAH ALAM, Nov 22 — The state government is planning to set up an investment entity like Khazanah Selangor after strengthening governance of Menteri Besar Selangor (Incorporated), or MBI, said Menteri Besar Dato’ Seri Amirudin Shari.
On the Keluar Sekejap podcast with Khairy Jamaluddin and Shahril Hamdan, Amirudin was asked about the perception that MBI has long been criticised over transparency and its management of government-linked companies (GLCs).
Amirudin said MBI is in a better position after two years of restructuring and governance improvements.
“MBI has just been recognised by ESG Malaysia as an institution with good governance and integrity.
“We also have a good relationship with the MACC (Malaysian Anti-Corruption Commission), which publishes guidelines for companies like MBI and monitors them until it can verify that (the companies’) procedures and guidelines adhere to transparency and accountability conditions,” he said.
He also expressed appreciation for MBI ex-chief executive officer Norita Mohd Sidek for centring the entity’s governance ecosystem.
He said several old issues, including the company structure, tax issues and certain deals, were solved before the state moved on to larger agendas.
“We have corrected (MBI’s) structure to the point of shaping a ‘Khazanah Selangor’, for which we can use our reserves and savings.
“MBI is a platform that can be used for that plan in the future,” Amirudin added.
