PN states form SG4 company to share wealth

Four Perikatan Nasional states have formed SG4 Group Sdn Bhd to share wealth among them, including revenue from natural resources.

Dr Mahathir Mohamad, who serves as an adviser to the SG4 group - which involves Kelantan, Terengganu, Kedah, and Perlis - said each state will have equal stakes.

“Each state owns 25 percent of the company, so even states that are far behind like Perlis can benefit. The company has been established and has already begun cooperation.

“For example, we believe the rare earth industry is a source of wealth. Rare earth elements are not equally distributed in every state; one state may have more than others.

“Therefore, within this one company, we distribute all the revenue equally,” he said at the SG4 Summit press conference in Bangi today.

Also present were PAS president and SG4 adviser Abdul Hadi Awang, opposition parliamentary whip Takiyuddin Hassan who serves as SG4 executive secretary, and the menteris besar of all four states.

Developing PN states

Mahathir said the company is concentrated solely on the four states’ development and does not deviate from the federal government’s path.

“We do not intend to take a different path; we want to focus on developing these four states, which have not enjoyed the same wealth as other states.

“We also want to advance these four states so that they too can benefit from the nation’s wealth.

“We can try to manage FDI (foreign direct investment) and, if necessary, seek information and examples from countries with successful models,” he added.

Takiyuddin explained that the company will focus on five clusters that it aims to explore.

They include infrastructure and logistics; trade, investment, and industry; agriculture and food security; education and human capital; and new sources of income.

“Each cluster is chaired by a state government exco from one of the states and includes exco members from other states,” the Kota Bharu MP said.

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