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Author: savemalaysia   |   Latest post: Tue, 21 May 2019, 10:31 PM

 

Perak MB: State govt had to dig Perak Corporation Berhad out of financial hole

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IPOH, April 23 — Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu today said the state government came to the rescue of debt-riddled Movie Animation Park Studios (MAPS) to help Perak Corporation Berhad (PCB) avoid a full-blown financial crisis.

Ahmad Faizal said PCB, as the public listed company, owns the most land in the state as compared to other government-linked companies. 

"This is why we’re finding ways to make sure MAPS continues its operation in order to protect the fate of local workers fate as well as PCB as a whole.

“I was informed PCB or the MAPS management will make an announcement soon on their new theme park business direction,” he said in his winding-up speech at the state assembly here.

On the allegation over money laundering, corruption and power abuse by the previous MAPS management, Ahmad Faizal said his office has lodged a report with the Malaysian Anti Corruption Commission (MACC).

“We are confident that the MACC will conduct a detailed and transparent investigation.

“If proven there are misconduct and power abuse, the responsible parties will be brought to justice,” he said.

PCB is a Perak State Development Corporation subsidiary and the owner of PCB Development Berhad, which holds a 51 per cent share in the Animation Theme Park that manages the troubled theme park.

The remaining 49 per cent share belongs to RSG MAPS Sdn Bhd.

Previously, Malay Mail had reported that the cost of constructing and developing MAPS ballooned from RM390 million to RM607 million.

 

https://www.malaymail.com/news/malaysia/2019/04/23/perak-mb-state-govt-had-to-dig-perak-corporation-berhad-out-of-financial-ho/1746118

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