Wednesday, June 14, 2006

Report against KHSB and PISB lodged

I lodged a report with the Securities Commission against Kumpulan Hartanah Selangor Berhad (KHSB) over the issue of Perangsang International Sdn Bhd (PISB), the main contractor of Matrade Building fiasco yesterday.

The event was reported by Malaysiakini yesterday, and by New Straits Times and Nanyang Siang Pau today.

It's time for the chairman of Kumpulan Darul Ehsan Berhad (KDEB), the holding company of KHSB, Dato Seri Dr Mohd Khir Toyo, Menteri Besar of Selangor, to tell the truth now, and to instruct the Selangor state investment arm to pay the due to the Federal Government.
(Photo by courtesy of Malaysiakini)


Anonymous said...

For a company to voluntary wind-up would mean the company's asset is sufficient to meet the liabilities. May be Federal Government have never lodged a claim against PISB but the claim was only reported in the news.

YB, PISB is not alone, there are so many companies out there selling their companies for 2 dollars after stripping of the assets. This is the loophole of the laws, which is extremely difficult to plug it. There are also Special Purpose Vehicle ["SPV"] companies set up for this purpose.

But the Government should not lead or set example for others to follow as the laws are made by Government.

The Malaysian. said...

Well Done. Let's wait and see what happens now.