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Former Prime Minister Najib Abdul Razak has questioned the sale by Khazanah Nasional Berhad of a 16% stake in IHH Healthcare Berhad to the Japanese company Mitsui & Co for 8.42 billion RMB.
"The second largest hospital in the world can no longer be known as a Malaysian-owned group nor a national pride since it belongs to a Japanese group.
"It will not be impossible at the group chairman who has all this while he was Malaysian, would soon be replaced by a Japanese.
"The country is losing an opportunity to build a global multinational corporation," he said in a Facebook post.
Najib said that when he took office as prime minister in 2009, Pantai Group hospitals were only worth RM 5.2 billion.
The MP from Pekan said that during his tenure, the group had acquired other hospitals, including the Parkway Group in Singapore, and had been restructured in 2010 under the name of IHH.
"After listing this group on Bursa Malaysia, its value rose to RM 25.6 billion.
"Today, the IHH is estimated at 50 billion rand and is the largest group in Malaysia with 14 hospitals and four in Singapore, 21 in Turkey and nine in India.
Najib said the sale at 6 RM per share was below the RMH 6.42 peak for 2018 and blamed the current fall in the price of the action to the government of Pakatan Harapan.
According to Bloomberg data, the course of action of the IHH had fluctuated around the RM6 March until August.
Subsequently, the stock price began to collapse and reached a minimum of RM4.54 per share on November 13th.
The downward trend coincided with the monetary crash in Turkey, where the IHH has a large number of hospitals.
The IHH share price closed at 5.25 RMF per share yesterday
Najib asked if the sale was aimed at increasing Khazanah's dividend to the government in order to deal with the abolition of the goods and services tax.
"What other assets will be sold?" he questioned.
The new government had to face a shortfall after returning to sales and service tax (SST) in addition to the legacy debt of the 1MDB scandal.
The Barisan Nasional, led by Najib, fell from power in its first defeat in 61 years since independence, after being accused of embezzling billions of dollars in 1MDB funds.
Najib, who is facing criminal prosecution for his alleged misappropriation, has denied that he has committed any wrongdoing.
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