APH a test of foreign ownership of local assets


Dateline 2012-09-14:

THE Asia Petroleum Hub (APH) fiasco is proving to be a huge problem for the government where foreign ownership of local assets is concerned.

Ports, telecommunications spectrum, airlines and, in some cases, banks are considered critical assets in Malaysia as in other countries and should therefore be in the control of local companies.

A switch in ownership to foreigners, if not handled well, can have serious repercussions for the government. For a case in point, look at the infamous sale of telecommunications company Shin Corp to Singapore’s Temasek Holdings, which cost the then Thai prime minister Thaksin Shinawatra his job.

Be that as it may, Asia Petroleum Hub Sdn Bhd (APH) does not fall into the critical asset category. In 2005, the Ministry of Transport gave the company the rights to develop a petroleum hub and bunkering facilities on an island off the Port of Tanjung Pelepas (PTP). In return, APH was to get a 30-year lease to operate the facilities.

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This entry was posted on Friday, September 28th, 2012 at 6:00 am and is filed under business opportunity, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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