Monday, April 21, 2008

ACCOUNTABILITY OF PERAK STATE COMPANIES

I’m quite happy with the way the PAKATAN RAKYAT’s coalition government is moving around managing the state. They seemed to be pressing the right buttons so far. They seemed to be sincere, honest and with a sense of purpose in getting to the rakyat. What I like to see now is for the new state government to move in quickly into the management of state agencies and state companies. Please call in the professional auditors to investigate the financial affairs of those agencies and companies especially the Perak SEDC and its group of companies. Many pieces of land for residential development were passed to ‘some people’ at lower than market prices without going through proper open tender. Please also check the SEDC companies’ statutory and financial records at the Companies Commission, Malaysia. Information will reveal that the boards of directors are being monopolised by a few officers who are closed to the CEO only. Some of the full time SEDC officers are even holding full time executive directorships in companies quoted on the Main Board of Bursa Malaysia at the same time! Please check the Government General Orders. Boleh ka pegang dua full time jobs pada satu-satu masa. No wonder harga saham of that company lagi murah dari pisang goreng lorr. Semua kerja mau buat jadi apa kerja pun tarak buat. To show some profit in the financial accounts, SEDC and its group of companies resorted to selling raw lands at cheap prices through contra deals or by invitations. Well,kalau takat jual tanah projek secara murah-murah, tak payah officer laa, budak kindergarten pun lagi pandai maa....

Please also check the entertainment expenses, allowances, bonuses and advances taken by directors/political nominees on the Board of those companies prior to the elections. Make sure these people pay back /refund whatever that are not due to them. There is this former chairman of an SEDC company who took a RM200,000 advance. I also know that an ADUN who took over as the chairman of the same SEDC company had taken advances prior to his overseas trips on many occasions amounting to several thousands Ringgit on every trip. I wonder whether those directors have settled their advances. These directors have done nothing to deserve anything! In the meantime,the shareholders of that company (Now listed on Main Board) have not been paid any dividend since 2006 while seeing the price of their shares hit rock bottom. So Dato’ Seri MB, over to you.


1 comment:

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