Multimedia Super Corridor (MSC) chaiperson Othman Yeop Abdullah announced today that he was stepping down due to health reasons after six years at the helm.

"I am becoming a non-executive (chairperson) for health reasons," he was quoted as saying by the official Bernama news agency at the sidelines of the annual three-day talks between Prime Minister Dr Mahathir Mohamad and global hi-tech advisers to the MSC.

Othman was appointed executive chairperson of Multimedia Development Corp Sdn Bhd (MDC), which overseas the MSC on Sept 1, 1996.

Mahathir's brainchild

The hub which Mahathir launched in 1996 to turn Malaysia into a developed nation by 2020, now has 745 companies, including 53 'world-class' companies breaching its target of 500 by 2003.

MDC in a report said MSC has created over 18,000 jobs with over 15,000 taken up by knowledge workers.

The MSC, which stretches about 50km south from Kuala Lumpur to the international airport in Sepang, is the brainchild of Mahathir. MSC-status companies enjoy a host of tax and other privileges.

Mahathir last year admitted the hub had not contributed to the economy as much as expected. Critics complained of a lack of focus, excessive bureaucratic red-tape and shortage of skilled labour.

At this year's talks 14 out of the 48 members of the MSC panel were attending the session while another 12 had sent their representatives.