Nik Nazmi said the appointment of Gamuda group deputy managing director Rashdan Yusof to the post was to shake up the regulator’s approach to energy transition.
“I want Rashdan to shake things up. I need an EC (Energy Commision) that can function. (There is) a lot of lobbying, but I know it cannot be business as usual. It cannot be more of the same,” he said in an interview with the Edge.
He was responding to concerns over Rashdan’s appointment to the post, as Gamuda Bhd is involved in the renewable energy industry.
Nik Nazmi said energy is not Gamuda’s core business, adding that government-linked investment companies (GLICs) also own substantial stakes in the listed entity, including Permodalan Nasional Bhd (16.5%), EPF (14.5%) and KWAP (5.3%).
He also said federal legislation “clearly provide” for instances of conflict of interest and ways to deal with them, citing the Energy Commission Act 2001 (EC Act 2021), which requires commission members to declare their interests, as an example.
He said Rashdan, who is still holding the deputy group managing director’s post in Gamuda, “went a step further” and chose to recuse himself from situations deemed to have conflict.
“Contrary to previous practice, the chairman is not present in the key sub-committees – he’s only present in the economic and strategic sub-committee, which is very macro,” he said.
“I am not saying that there is no conflict. The Act foresees that there will be situations like this, and they have remedies or safeguards for that. It is quite typical of any corporate structure,” he said.
Nik Nazmi also said that board appointments at the Energy Commission are vetted by the Prime Minister’s Office.
He said Rashdan has vast experience in the corporate sector as well as government-linked projects and possesses clear ideas to support the government’s visions and targets.
On Wednesday, FMT reported that Rashdan’s appointment as the new Energy Commission chairman raised concerns from anti-corruption and transparency groups as well as industry players and businesses, due to fears of conflict of interest and that it would not boost investor confidence.
The Center to Combat Corruption and Cronyism (C4) said Putrajaya must explain the selection process involving Rashdan’s appointment transparently, while Transparency International Malaysia urged Rashdan to turn down the position.