DAP MP wants MACC to probe Perak Corp Bhd over RM340.6m loss

(26-5-2018)

IPOH, May 26 — DAP Member of Parliament Nga Kor Ming today urged the Malaysian Anti-Corruption Commission (MACC) to investigate Perak Corp Bhd (PKNP), after an external auditor’s report showed that the group incurred a net loss of RM340.6 million in a single year (2017).

Nga said Ernst & Young reported that the group’s liabilities exceeded its current assets by RM158.5 million for the year 2017.“The lost suffered by Perak Corp is among the biggest in the group’s history. And what’s more worrying is their debt, which is bigger than their assets.“At any time, the group could be bankrupt or face issues of insolvency. Therefore, I urge MACC to investigate the company as we have reason to believe it is worth opening a file on this matter,” he told reporters at DAP’s headquarters here today.“I’m not making any accusation, but I believe it is the responsible of MACC to investigate so that the people who are involved in the wrongdoing and laundering can be brought to justice,” said the Teluk Intan MP.

Nga also said that the reason for the loss incurred is due to weakness in the management of the previous state administration as well as the debt caused by the Movie Animation Park Studios (MAPS) project.“The group said they will sell their lands and assets to cover the loss, but how many lands and assets have they left and how long are they going to do it.“The group also said it will rely on its ultimate holdings corporation (state government) to provide financial assistance to meet its liabilities,” he said.Nga said Pakatan Harapan had on many occasions warned the previous Barisan Nasional government not to proceed with the MAPS project as they do not have the expertise in managing and operating such a theme park.“The responsibility of a state government is to take care of the people’s welfare and develop the state and not to open a theme park.

“If they wanted to open a theme park, they should invite Genting Berhad or Disney Land and give them land to open the theme park. Let them invest and we can impose taxes on them. This is how it should be done,” he said.“But, they were stubborn and did not want to listen to us and now as a consequence, all Perakians have to suffer due to their negligence. Why should we bear their responsibilities now?” he said. Nga also called for the group’s board and chairman to resign.“It’s better for them to resign before they are sacked. If they refuse to resign, then the state government should call for an annual general meeting and sack them,” he said.

Nga said there is no immediate solution to solve this problem and he hopes the mentri besar will call a meeting soon to discuss this matter.