10 January 2019, Kajang, Selangor, Malaysia - Protasco Bhd saw the SUKE contract terminated and the market is expecting more revision in the government contract manipulators given by the former government.

The MACC probe into high profile contract awards, especially those compromised and dubiously awarded pre-Malaysia General Election, are under review and awaits action from relevant authorities.

According to The Edge newspaper, Ancom Bhd executive chairman and former Tourism Malaysia chairman Datuk Dr. Siew Ka Wei was remanded for four days over an RM100 million tourism contract awarded before Malaysia's 14th general election. The Edge quoted that The Malaysian Insight reported today.

Market perceive this pre-election probe is just a small starter plate compared to Protasco Bhd’s RM4.2 billion JKR contract awarded to Dato Seri Chong Ket Pen’s high profile pre-election political campaign in May 2018 after it got awarded such contract in April 2018. Market consensus is anticipating when is the high profile public service contract be probed. Protasco Bhd quarterly cash flow saw RM66 million shortfalls right before the said contract was awarded.

MACC Watch

reference:

http://www.theedgemarkets.com/article/ancom-chairman-siew-ka-wei-remanded-over-rm100m-tourism-contract