Khazanah Nasional managing director Datuk Shahril Ridza Ridzuan said the sovereign wealth fund has yet to decide on its involvement in the third national car, muted by Prime Minister Tun Dr Mahathir Mohamad. NSTP photo by ROSELA ISMAIL

KUALA LUMPUR: Khazanah Nasional Bhd has not made any decision on its involvement in the third national car project through subsidiary, SilTerra Malaysia Sdn Bhd.

Managing director Datuk Shahril Ridza Ridzuan said this is because the government is still in the process of reviewing the viability of the project.

"From Khazanah's point of view, we have a private company that can supply components, services or technology (for automotive).

"SilTerra, intends to produce more chip components and detectors for the automotive industry. So it aims to grow commercially but no decision has been made yet," he said.

He said this during his presentation entitled 'Malaysia Investment into China' at South China Morning Post's China Conference, here, today.

A local automotive portal had reported that SilTerra will be involved in the national car 3.0 project.

The company, based in Kulim Technology Park, Kedah, produces semiconductor chips used in Apple products.

According to the report, Melaka-based Composites Technology Research Malaysia Sdn Bhd (CTRM), which specialises in producing composite materials, will also be involved in the third national car project.

Last Friday, Tun Dr Mahathir Mohamad said there was nothing wrong with Khazanah and its subsidiary SilTerra being involved in the third national car project, as they are not government entities.

The prime minister said that if Khazanah is interested, they are welcome to invest in the project.

The project was announced by Dr Mahathir in June 2018, and since then he has hinted the government is committed to launch the third national car, by 2020.

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