KINIBIZ Menteri Besar Selangor Incorporated (MBI) was created as a state statutory body with the objectives of managing and enhancing Selangor state’s assets. These objectives, however, were not met due to MBI’s own limitations in managing these assets.
The conflicting roles and responsibilities between social and universal provider as against an economic enterprise focusing on wealth creation have resulted in mediocre returns from its vast investments.
Therefore, the rationalisation and consolidation of MBI’s subsidiaries and state government-linked companies (GLC) as a whole is a must to ensure sustainable value creation and broaden Selangor state’s income base away from its current reliance on land related levies and taxes.
Once the restructuring process is completed, MBI will realign its focus purely on projects that centre on the welfare of the rakyat through the initiation of social programmes such as Hijrah, Wifi Selangorku, YAWAS (Yayasan Warisan Anak Selangor), to name a few.
Darul Ehsan Investment Group (DEIG) is established as a corporate entity with the sole purpose of becoming the investment arm of Selangor. The objective of DEIG is to focus on optimising contributions to the state through the implementation of a sustainable and professional management framework and corporate governance standards at the highest level.
DEIG is registered under the Companies Act 1965 and is 100 percent owned by MBI. As such, DEIG’s financial and operational information will be included in MBI’s consolidated accounts and be presented as part of the financial statements.
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RAJA SHAHREEN RAJA OTHMAN is the chief executive officer (CEO) of Menteri Besar Selangor Incorporated (MBI).