Friday, June 23, 2006

ACA, SC and CCM started investigation into Perangsang International

The Anti Corruption Agency (ACA), Securities Commission (SC) and Companies Commission of Malaysia (CCM) had instituted their respective investigations into the the case of Perangsang International Sdn Bhd (PISB), the main contractor of the Matrade Building fiasco.
The ACA had seized all the Tajuk Modal's files from its accountant's office in Taman Maluri, Kuala Lumpur. The said chartered accountant was also appointed as provisional liquidator for Tajuk Construction when Tajuk Construction attempted to initiate a voluntary winding-up proceedings.
Tajuk Modal is a RM2 company which bought over PISB for RM2, changed its name to Tajuk Construction, let it be wound-up and thus saved Kumpulan Hartanah Selangor Bhd (KHSB) which owned PISB through SAP Holdings Bhd (SAP) approximately RM159.8 million being damages and liquaidated ascertained damages payable to the Federal Government for the defects and late delivery of Matrade Building by PISB.
The Company Secretary of KHSB, Pn Norlida Jamaludin, was inteviewed by officers from the Companies Commission of Malaysia yesterday.
The Securities Commission has also initiated their investigation by meeting KHSB officer and attempted to obtain the relevant files from the officers in-charge.

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