OVER the past two years, property developer Tanco Holdings Bhd has transformed from a relatively small property and resort-linked outfit into one of the most talked-about infrastructure stories in Malaysia through its proposed Midport development in Port Dickson.
The project has attracted both strong investor enthusiasm and equally strong scepticism from sections of the financial media. While healthy scrutiny is an essential part of journalism and capital markets, an important question is now emerging among observers:
Has the coverage crossed from legitimate scepticism into excessive negativity?
This question deserves discussion not because criticism should be silenced but because balanced reporting matters when a project carries potential national and regional economic implications.
Private sector-led infrastructure gamble
Unlike many historical mega-projects in Malaysia that depended heavily on taxpayer funding, sovereign guarantees or government-linked financing structures, Midport is being positioned differently.
Tanco is largely leveraging (i) privately controlled land; (ii) private fundraising; (iii) strategic partnerships; and (iv) market-based capital formation.
Supporters of the project argue this distinction is important.
They see Midport not as another public-funded mega project but as a rare example of a Malaysian private company attempting to build large-scale infrastructure through entrepreneurial risk-taking.
If successful, the project could potentially contribute not only to its epicentre Negeri Sembilan but to the whole of Malaysia.
This can be made possible through (i) stronger logistics capabilities; (ii) increased maritime competitiveness; (iii) job creation; (iv) industrial ecosystem expansion; (v) tourism spillover; (vi) foreign direct investment inflows; and (vi) broader west coast economic development.
Supporters also believe the project could help elevate Malaysia’s international image by demonstrating that the country is still capable of pursuing ambitious and future-oriented infrastructure initiatives driven by private sector confidence rather than relying entirely on government funding.
In that context, some observers feel the project deserves fairer recognition for its developmental ambition.
Persistent media scepticism
But there is this grey area of what meets the eyes of investors is not perceived in the same light by the media
“To be fair, financial journalism has every right to ask difficult questions. Tanco’s rapid market-cap expansion, speculative trading behaviour, ambitious plans and historically modest earnings profile naturally invite scrutiny,” a company spokesman told FocusM.
“Questions surrounding (i) financing; (ii) execution capability; (iii) valuation; (iii) cargo demand; and (iv) long-term commercial viability are all legitimate topics for public discussion.”
It has to be acknowledged that Malaysia’s financial media has historically played an important role in corporate accountability by challenging powerful narratives and asking uncomfortable questions.
“However, critics now argue that the tone of coverage surrounding Tanco and Midport appears persistently one-sided,” lamented the spokesman who wishes to remain anonymous.
Apparently, the concern raised by some investors and observers is not that the media criticises Tanco. Criticism is healthy in any mature financial market.
But the concern hinges on (i) repeated sceptical framing; (ii) frequent emphasis on valuation fears; (iii) recurring “negative question” style headlines; and the very fact that (iv) comparatively limited emphasis on project milestones can cumulatively shape public perception in a disproportionate way.
On the contrary, supporters point out that Midport is no longer merely conceptual. Over time, the project has reportedly secured:
- Planning approvals;
- State-linked participation;
- Concession arrangements;
- Strategic operator partnerships; and
- Engineering collaborations.
Yet some readers feel these developments are often overshadowed by recurring narratives focused primarily on speculation and doubt. – May 12, 2026
Editor’s Note: At 10.47am, Tanco was up 2 sen or 1.2% to RM1.69 with 13.02 million shares traded, thus valuing the company at RM10.37 bil.
Next: Weighing in on media scepticism vs national confidence
