Malaysiakini reports, here, that the Selangor state government wants to take over and manage operations at the RM4.68 billion Port Klang Free Zone (PKFZ) as part of its overall revamp of troubled projects and corporations within the state to bring these back to the black.
Rather than letting this Port Klang project go to waste at taxpayers' expense, the state government will take it over at book value of RM1 or RM2 and try to turn it around to make it economically viable, said Selangor's new Mentri Besar Abdul Khalid Ibrahim (photo).
Khalid, however, said the federal government’s bailout of PKFZ with a 'soft loan' has not resolved the ‘internal’ issues relating to the alleged irregularities, and has not assured its economic viability either. “Who are the sub-contractors? What are the costs involved in that (project?). We can help unravel all the issues to correct the position,” he said.
“I think the least (that) the public expect is that people who benefited from this must pay for their sins or crimes (through legal action).”
Khalid should know what he is talking about. A former corporate giant, he was very briefly and indirectly also my former boss in the early 90's when Klang Port was privatised to the Permodalan Nasional Bhd. My heart went out to him when I saw him directing traffic in full baju melayu at Anwar Ibrahim's open house during the last Hari Raya Puasa. The time for reckoning is here.
Malaysia Remains A Competitive World Economic Player
2 months ago