The federal government’s decision to sell the Bakun dam to the Sarawak government is not a bailout but a purely commercial deal, says Deputy Prime Minister Tan Sri Muhyiddin Yassin.
"The decision is purely on a commercial basis," Muhyiddin said, after officiating at the World Capital Markets Symposium organised by the Securities Commission today.
"It is done from a business sense, nothing otherwise,” he said, when asked to comment to remarks by the Opposition that the sale could be seen as a bailout.
"We are finalising the right pricing and going through all the fine details," he said. "But I can’t comment on what will be the right price…it will be announced later."
Muhyddin was commenting on the government’s recent move to sell the 2,400 MW Bakun dam to the Sarawak government. The Sarawak government is carrying out a technical, finance and legal study on the project, which cost the federal government more than RM7.3 billion. Sarawak has placed a bid of over RM6 billion to buy over the dam from the federal government. This means that the proposed multi-billion ringgit undersea power transmission cable between Sarawak and Peninsular Malaysia is now shelved.
Terlalu banyak dah kes yang dikatakan bukan 'bailout' tiba-tiba bertukar jadi kes 'bailout', spt PKFZ dsbnya, semuanya angkara gomen 1Malaysia menipu rakyat.
Tak kisahlah, kita tahu bila Mahyuddin kata penjualan projek Bakun itu adalah satu 'commecial deal' sebenarnya ia adalah 'BAILOUT' ala Najib 1Malaysia.....
Mahyuddin, you can fool your UMNO dungus but not the rakyat......