PRO-Madani backers are poking fun at the viability of the jointly owned SG4 Group Sdn Bhd in which each of the four Perikatan Nasional (PN)-ruled states of Kelantan, Terengganu, Kedah and Perlis will hold a 25% stake, alluding to the economic reality that the four states have different degree of wealth levels.
As such it would be both impractical and unfair for the wealthier states – notably Kedah and Terengganu – to channel their wealth in the name of equality to the less wealthy states, ie Kelantan and Perlis.
Above all else, SG4 Group Sdn Bhd which serves as the joint-venture (JV) vehicle seems more like an economic “masterplan” between the State Government Four (SG4) chief panel adviser Tun Dr Mahathir Mohamad and PAS president Tan Sri Hadi Awang to sideline its PN core partner Bersatu as rift between both parties widens.
“So, will SG4 be successful or fumble? For example, investors will realistically go to Kedah and maybe Terengganu next … no way would they go to Kelantan and Perlis 🤣” envisages JOKER🔺(@tjerealjoker) on the X platform.
Complete sudah masterplan atoksaka dengan hadi dajjal.
Akhirnya, Muhyiddin yg bertekak dgn Mahathir semasa Sheraton, kalah terok kena timpa tangki taik.
Geng Bersatu mohon jgn koyak malam ni.
🤣 pic.twitter.com/CnLUf2dXJ2— JOKER🔺️ (@tjerealjoker) September 2, 2024
“In the end, Kedah and Terengganu will emerge the biggest contributors while Kelantan can shake legs with Perlis sleeping yet profit is to be divided equally. 🤣”
For context, Dt Mahathir has described the SG4 Group as a springboard “to collectively advance” the four PN-ruled states which are not faring as well as other states economically.
“In Terengganu and Kelantan, there are rich deposits of rare earth elements (REE) and the same can be said for Kedah. Perlis has dolomite which is used in processing REE,” the twice former premier told a media conference at the SG4 Summit in Bangi yesterday (Sept 2).
“So, our goal is to ensure that all the wealth we generate is distributed equitably so that states that have fallen behind can also benefit.”
Moreover, Dr Mahathir which has in recent times “made peace” with his once archrival PAS further justified that the formation of SG4 is not intended to bypass the Federal government’s role but to support the states that have been left out from benefitting from the nation’s wealth.
Interestingly, the admin of the pro-state government Greater Terengganu Development Facebook page has also questioned the feasibility of the said wealth sharing initiative.
“Admin appeals to the state government leadership not to accept such proposal. If wealth is divided equally, then most likely that the produce of our land will have to be shared with other states,” it asserted.
“This is when our own state revenue is still insufficient that we’ve to rely on oil royalty to fund the operational needs of the state government.
“Equal distribution is also not fair for the larger states. For example, Terengganu’s budget is more than six times that of Perlis, hence our state certainly needs more revenue than Perlis.
“Moreover, what if another state falls to a party that is not the same as the party that rules Terengganu? Will the company (SG4 Group) then become redundant? How much compensation will our state have to bear at that time?”
In all fairness, there are still loopholes that must be plugged by the leadership of the four PN-ruled states lest as one netizen puts it, “wealth sharing has its origin in the socialist or communist system”.
“A better way is to propose a formula to increase the revenue of each state before touching on other issues,” he suggested. – Sept 3, 2024
Main image credit: @OrenjiRenOren/X
