KUALA LUMPUR: Opposition members of parliament (MPs) have questioned the rationale behind letting one man control the nation's rice imports.

Saifuddin Nasution (Machang-PKR) said Bernas (Padiberas Nasional Bhd) would be controlled by one person — Tan Sri Syed Mokhtar Al-Bukhary — if more shares were sold to the magnate.

"We need to know if the government has put in place certain risk mitigation mechanisms," said Saifuddin at the parliament lobby today.

"Rice is an important commodity and food staple for Malaysia. Allowing one person to control such a fundamental item can be dangerous," he added.

According to Saifuddin, Syed Mokhtar via Tradewinds (M) Bhd and Budaya Generasi (M) Sdn Bhd currently controlled more than 87% of Bernas, with Tradewinds holding 32% stake and Budaya more than 55%.

Saifuddin said he was also puzzled how paddy farming groups under the likes of the Muda Agricultural Development Authority (Mada) and Kemubu Agricultural Development Authority (Kada) could have pared their 37% shareholdings in Bernas.

"According to the shareholding agreements, the first right of refusal should have been given to Bernas before it can be sold to other parties. So we are surprised that their shareholding has been sold."

The Parti Keadilan Rakyat (PKR) election strategist said the government should disclose how many shares these groups still held and when they had sold their stakes to the Syed Mokhtar-controlled companies.