Corporate Governance Of Things

Author: tanhakka   |   Latest post: Sat, 8 Feb 2020, 9:04 AM


惨!富达公司债务缠身,今天再爆PPA1M 房屋计划取消,UOB银行银根拉紧,PN17前奏?Debt ridden Protasco Bhd catastrophe PPAM contract terminations is a step to UOB bank default and PN17?

Author:   |    Publish date:

2019年3月9日 - 道路维修和建筑公司 PROTASCO BHD (富达公司 5070) 今天被财经新闻报THE EDGE 踢爆,旗下的公务员廉价房屋计划 (PPAM 或 PPA1M) 被下令无限期“暂时”停工,并可能被终止合约。富达公司是前朝政府公共合约掠夺者, 也是腐败的象征。马来西亚全国大选后被政府清算也是意料之中。
根据可靠消息,富达公司已经被公务员廉价房屋计划合约颁发者 Putrajaya Corp (PjC) 下令“暂时”停工。The Edge 新闻报道。
刚刚蒙受马币4千4百万季度亏损的富达公司,如今被建筑工程合约终止拖累,分分钟会有银行“集体撤资”的风险。公司执行董事张吉平 (Chong Ket Pen) 3月1日宣布利用富达公司的钱(马币4千8百6十万)跟张吉平自己卖地套现,明目张胆的“抢钱动作”看得有关执法当局目瞪口呆。难道富达公司陷入PN17困境时日已到,劫数难逃?
【 The Edge 骇客 - 真正的The Edge 】

Source: https://www.edgeprop.my/content/1490466/ppam-contract-terminations-impact-more-developers-report


PPAM contract terminations to impact more developers: Report

KUALA LUMPUR (March 9): More Malaysia Civil Servants Housing Programme (PPAM) projects are “expected to be either put on hold or shelved”, reported The Edge Malaysia in its latest issue.

A source told the weekly that Protasco Bhd has been informed by Putrajaya Corp (PjC) (the project owner of PPAM in Putrajaya) to “temporarily postpone” development.

It was reported on Feb 27 that Damansara Realty Bhd announced that PjC had terminated a contract to develop 1,350 residential units and 45 commercial units with a gross development cost of RM467.3 million in Precinct 5 of Putrajaya.

Damansara Realty announced that the termination “was due to the government’s move to unify the development of affordable homes under the Ministry of Housing and Local Government”.

Developers contracted to construct PPAM homes include Ahmad Zaki Resources Bhd, Hap Seng Consolidated Bhd, Iris Corp Bhd, Zecon Bhd, LBS Bina Bhd and Spring Gallery Bhd.

“The level of progress of these projects could not be ascertained,” wrote the business publication.

One of the major decisions made by Minister of Housing and Local Government Zuraida Kamaruddin has been the consolidation of the affordable housing schemes at the “federal level”. Part of this endeavour was the creation of National Affordable Housing Council last year.

“It is good that the minister (Zuraida) wants to consolidate all of the affordable housing programmes at the federal level under her ministry to avoid confusion among the public,” Ishmael Ho, CEO of Ho Chin Soon Research Sdn Bhd, told the business weekly.

But Ho explained that “while the agencies on the federal level can be consolidated, each state still has its own agencies for people’s housing programmes”.

“The benefit of streamlining agencies at the federal level might be limited to the federal territories,” he added.

Ho also said that “there had been hardly any success stories among the various affordable housing programmes” under the previous Federal administration and attributed it to the “lack of transparency when it came to information on residential properties”.

“For example, there must be a database on how many affordable housing units have been launched, where exactly they are located, what type of properties have been built, which projects are being planned, being constructed, under construction or completed, and so on,” he added.

Meanwhile, a property developer said the cancellation “of contracts to build PPAM houses should not be prolonged”.

“The government should quickly come up with a replacement programme, if indeed those programmes launched under BN have been scrapped. People want to know what kind of affordable housing programmes they can apply to,” he added.


Share this

  Be the first to like this.

I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Stock Screener using Technical and Fundamental criteria
MQ Affiliate
Join the MQ Affiliate Program today to earn rewards

454  479  533  468 

Top 10 Active Counters
 PDZ 0.19-0.015 
 FINTEC 0.10+0.01 
 VC 0.080.00 
 AT 0.095-0.005 
 MQTECH 0.08-0.01 
 DGB 0.050.00 
 MLAB 0.0550.00 
 AIRASIA 0.75+0.045 
 IRIS 0.275-0.015 
 LUSTER 0.135+0.01 


1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
2. MQ Affiliate – A smarter way to earn more rewards MQ Trader Affiliate Program
3. MQ Affiliate – How to become an effective affiliate MQ Trader Affiliate Program
4. MQ Affiliate – Upgrading to Affiliate Partner MQ Trader Affiliate Program
Partners & Brokers