Thursday, June 15, 2006

Evasive Kumpulan Hartanah refuses to answer

Kumpulan Hartanah Selangor Bhd (KHSB) was evasive when quiried by the press over the issue of winding-up of its fomer subsidiary, Perangsang International Sdn Bhd (PISB), the main contractor in the Matrade Building fiasco.
KHSB Managing Director, Dato Karim Munisar, refused to answer all questions related to PISB posed by the press after the annual general meeting of shareholders of KHSB in Shah Alam this morning on the flimsy ground that the matter was now under investigation of the Securities Commission.
There is nothing in law to prohibit any company under investigation to clarify or offer to explain matters to the public especially when a public listed company is involved. In fact, a public listed company is duty bound to keep the public especially the investors informed of the development of the company so as to maintain the public confidence in the company.
Karim was doing a disservice to the investors and the public at large by evading the quiry concerning public interest. It only confirms the public suspicion over the affairs in the Selangor state investment arm. There is something very fishy in it.

(Photo by courtesy of Malaysiakini)

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