Kadir Jasin hits out at Loke for bringing down MAHB share prices.
Prime Minister’s communications and media advisor A Kadir Jasin took to social media to slam Transport Minister Anthony Loke for deliberately talking the market down.
He said the minister’s comments had caused the market to dump MAHB shares.
The veteran newsman was referring a news report which reported that Loke told an investment forum about the government’s intention to adopt the public-private partnership model for airport operation and developments moving forward.
Consequently, this may open up the possibility of a new player taking part in the airport operations apart from MAHB.
In his post on Facebook today, Kadir said at a time when investors and fund managers were jittery, the first duty of any minister is “to talk the market up”.
“In everyday language, to instil confidence. To push the market up.
“Only a not clever minister will talk the market down. But there could be instances when a not stupid minister deliberately talks the market down.
“He or she may have a sinister reason for doing that, like pressing prices down so that someone could buy them at a discount.
“I would not accuse minister Loke of any of the above. But I would have to give him a fail mark in this particular instance.
FMT
“I have been generally impressed with this DAP minister. But in this particular instance, I’m disappointed,” he wrote.
Kadir said, unfortunately, this was not the first time that ministers had shot themselves in the foot, adversely affecting government-linked companies (GLCS).
He said it was sometimes “better for ministers to be the laughing-stock for saying stupid things rather than trying to be clever and causing market capitalisation of GLCs to tumble”.
“At least the stupid things they say are funny and entertaining. Adoi!” Kadir said.
When met in Petaling Jaya today, Loke lamented what he told the forum in a closed-door event last Thursday had been leaked out.
“I have never said anything openly, but someone leaked what I said in a close-door (event),” he told media when asked about Kadir Jasin’s criticism.
Lim Huey Teng/Malaysiakini
“I mean it is beyond me,” he said.
The Edge had reported that Loke’s remark had caused uncertainty for the Malaysia Airports Holdings Bhd (MAHB) and led to a fierce sell-down of MAHB’s share that wiped out RM1.09 billion in market capitalisation.
It added that some analysts noted that investors had taken the opportunity to take profits since MAHB’s share price had rallied for seven months.
He, however, read Kadir’ remark positively and said he would meet the prime minister’s advisor tomorrow.
“I thank Kadir Jasin for his comment. Well, I take it positively, and I will meet him tomorrow,” he said.
