Selangor BN assemblymen to study filing for judicial review to revoke DEIG

Barisan Nasional (BN) Assemblymen in Selangor are studying the possibility of filing an application for a judicial review on the setting up of Darul Ehsan Investment Group (DEIG).

DEIG is a new entity established by the Selangor government to manage investments of subsidiary companies of the Menteri Besar Incorporated (MBI).

Secretary of the Selangor BN Assemblymen, Budiman Mohd Zohdi said this was because DEIG, formed under the Companies Act 1967 in December last year, was not required to go through the audit and report its financial performance to the State Assembly.

"Why should DEIG be formed under the Companies Act and placed under MBI. It is like it is an invisible company as its accounts do not have to be audited and its financial position and activities not having to be reported to the state government," he told a social briefing on the DEIG issue at the Selangor UMNO Building here last night.

Prior to this, Menteri Besar Mohamed Azmin Ali was reported to have said that DEIG was established to focus on investment and to cushion the impact and risks of businesses against the state government.

Budiman, who is Sungai Panjang Assemblyman, said the establishment of DEIG was seen as reducing the role of MBI's governance of assets and business activities that were outside the state government's jurisdiction.

"What the state government should do is to strengthen and empower existing vehicles (MBI)," he added.

He said the BN Selangor Assemblymen were also looking into a suggestion for them to sent a memorandum to the Selangor Sultan on the DEIG issue.

The setting up of DEIG created a controversy when a news portal, had on Wednesday, reported that about RM30 billion worth of assets which were previously managed by MBI had been transferred to the RM2 DEIG.