The Malaysian United Democratic Alliance (MUDA) has called on the government to provide greater transparency over the leadership changes at MMC Port Holdings, warning that the governance of Malaysia’s largest port operator carries significant implications for national security and strategic infrastructure.
In a statement, MUDA’s Head of Economic Development Bureau, Andre Teow, expressed concern over reports that former DP World chairman and chief executive Sultan Ahmed bin Sulayem had been appointed Executive Chairman of MMC Port Holdings, while the company’s chief executive officer was removed with immediate effect without a public explanation.
Teow said the changes go beyond a routine corporate reshuffle, noting that MMC Ports operates seven ports along the strategically important Strait of Malacca, one of the world’s busiest maritime trade routes.
“These ports are not merely commercial assets. They are part of Malaysia’s critical national infrastructure and play a vital role in our economic security, supply chains and national sovereignty,” he said.
The statement also revisited MMC Corporation’s 2021 privatisation exercise, when the company was taken private at RM2.00 per share, valuing the group at about RM6.08 billion. Teow noted that the company’s independent adviser, Alliance Investment Bank, had assessed the offer as not fair, estimating the company’s fair value at between RM3.32 and RM3.41 per share.
He added that the privatisation resulted in minority shareholders, including Permodalan Nasional Berhad (PNB), which then held a 20.97% stake, exiting the company.
According to MUDA, MMC Ports had subsequently been widely expected to pursue what could have been Malaysia’s largest initial public offering (IPO) in more than a decade, but those plans have since been shelved.
Teow stressed that the issue was not about opposing foreign investment, saying Malaysia has long benefited from international capital, expertise and strategic partnerships.
Rather, he argued that changes involving strategic national assets should be accompanied by adequate transparency, accountability and safeguards to protect the national interest.
“If operational influence over infrastructure as critical as our ports can change without public scrutiny, then every Malaysian has a right to ask who ultimately controls Malaysia’s strategic assets and what safeguards exist to protect our national interest,” he said.
MUDA pointed to foreign investment screening mechanisms in countries such as the United States, Australia and the United Kingdom, arguing that Malaysia should establish a similar statutory framework to review foreign control or significant influence over strategic infrastructure.
The party urged the government to disclose the current ownership, governance and control structure of MMC Port Holdings, including details of any transaction or restructuring linked to the leadership change.
It also called on the government to confirm whether any national interest, security or “fit-and-proper” assessments had been conducted before the governance changes took effect.
In addition, MUDA proposed the establishment of a transparent statutory screening mechanism covering strategic assets such as ports, airports, energy infrastructure, telecommunications and water services.
“The Government owes the public transparency. The public deserves answers. And our strategic assets deserve stronger protection,” Teow said.
