Four state governments governed by the opposition party, Perikatan Nasional (PN) established the company SG4 Group Sdn. Bhd. for the purpose of cooperation in the economic field.
Head of the 4 State Government Summit Advisory Panel (SG4), Tun Dr. Mahathir said the state governments involved, namely Terengganu, Kelantan, Kedah and Perlis, will each own 25% of the company's equity.
He said, SG4's efforts will be distributed so that states that are far behind such as Perlis can also benefit from the support of these four states.
SG4 Group does not aim to abolish allocations by the Federal Government but for the development and progress of the four states that do not get the same wealth compared to other states.
The cooperation includes aspects of Foreign Direct Investment (FDI) as well as rare earth elements or Non-Radioactive Rare Earth Elements (NRREE).
He said again, these states can distribute the sources of wealth, for example, there are investments which (states) are lagging behind and send investors there, whether domestic or foreign investors.
He believes that 'Rare Earth' is the source of wealth even though there are not equal four states. One state may have more than the other and this company will distribute all proceeds equally.
SG4 Executive Secretary, Datuk Seri Takiyuddin Hassan said there are five economic sectors or clusters in the SG4 Group. Among them are Infrastructure and Logistics, Trade, Investment and Industry, Agriculture and Food Security, Education and Human Capital and New Sources of Income.
Each cluster will be reviewed by an Exco from a state. These clusters are made up of Exco states and each state will nominate a Board of Directors.
