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Umno Youth urges Syed Mokhtar to explain Proton's ownership

Published:  |  Modified:

Umno Youth today urged tycoon Syed Mokhtar Al-Bukhary to come clean on issues surrounding ownership of national carmaker Proton.

In a statement, Umno Youth assistant secretary Mohamad Sahfri Abd Aziz said it must be done to allay not only public concerns but also in response to local and international critics of Malaysia’s economy.

“Syed Mokhtar cannot remain like a ’silent devil’ who does not reveal the truth even though he has the knowledge and responsibility to explain the real situation on the decision to sell (Proton) shares to Geely…,” he said.

“Umno Youth is urging Syed Mokhtar to explain who is the real owner (of Proton) and the names of proxies behind the company,” he added.

The call was made following criticisms over DRB-Hicom Bhd’s decision to sell 49.9 percent stake in national carmaker Proton to China’s Geely Automotive Holdings Ltd.

With the right explanation, Sahfri said Umno Youth believes that all issues raised following sale of the shares could be understood by the public...

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