KL to retain dockyard control

KL to retain dockyard control

KUALA LUMPUR (AFP): The Malaysian government will maintain
control over the country's largest naval dockyard even if it is
privatized, Defense Minister Najib Tun Razak said yesterday.

"The government will ensure full control because of national
interest. We have decided on a certain percentage of shareholding
but that will be announced later," Najib told a news conference.

The cabinet has "in principle" approved the privatization of
the dockyard in Lumut in the northern state of Perak. The
dockyard is expected to win a lucrative contract to build naval
vessels for the Royal Malaysian Navy.

The government had received 35 bids from foreign shipyards for
the 15-year contract to build 27 navy patrol vessels.