Malaysia’s government could not interfere in the management of companies and only regulates shareholding structures, its transport minister said on Friday, following the appointment of former DP World chief Sultan Ahmed bin Sulayem to lead the country’s largest port operator.
Sultan Ahmed, who in February quit his top post at Dubai-based logistics giant DP World amid scrutiny over his alleged ties to Jeffrey Epstein, has taken charge of Malaysian firm MMC Port Holdings.
“We regulate only in terms of shareholding involving companies operating concessions and strategic national assets, including ports and others. It must be majority owned by Malaysians [at] 51 per cent, that is our policy, but in terms of management, the government does not interfere,” minister Anthony Loke said at a press conference.
MMC Port is Malaysia’s largest port operating group with seven ports along or near the Strait of Malacca, a waterway vital to global trade. It is wholly owned by utilities and infrastructure group MMC Corporation. Its shareholding details are not publicly available.
Emails exchanged between the Emirati and Epstein, who died in jail in 2019 while awaiting trial on sex trafficking charges, were released by the US Justice Department. Sultan Ahmed has not publicly commented on the emails.
Sultan Ahmed and MMC Port could not be reached or did not respond to requests for comment.
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