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(Ex) PM announces 3 major incentives during Police Day. Protasco Bhd (5070) 's PPA1M-PDRM RM2.6 billion policemen salary scheme probed? | NST-Review

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Publish date: Mon, 04 Jun 2018, 10:53 AM
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Original Article: https://www.nst.com.my/news/nation/2018/03/349133/pm-announces-three-major-incentives-during-police-day-celebrations-nsttv

 

4 June 2018, Kuala Lumpur, Malaysia - Former Prime Minister Datuk Seri Najib Razak on 25 March 2018 announced three major national incentives in conjunction with Malaysia’s 211th Police Day.

Najib announced an allocation of RM15 million for Pulapol; RM1.5 billion in funds for Amanah Saham Bumiputera (ASB) i-KOP; and 10,000 houses under the 1Malaysia Civil Servant Housing Project (PPA1M)-PDRM.
 
 
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He said that:
 
"The RM15 million allocation is for upgrading works at Pulapol. The government, through Permodalan Nasional Bhd (PNB), has also allocated RM1.5 billion for ASB i-KOP for Koperasi Polis Diraja Malaysia Bhd (Koperasi PDRM) members. This will benefit policemen who were members of Koperasi PDRM," he said in his speech during a Police Day ceremony at Pulapol here. As for the PPA1M-PDRM, Najib said a total of 405 units, known as PPA1M Kenanga, will be built in Precinct 19, Putrajaya; and will be priced between RM120,000 and RM260,000."
 
 
 
(Ex) Prime Minister further elaborated:
 
"In the 2018 Budget announcement last year, the government (said that it had approved) the building of 10,000 houses for policemen under PPA1M-PDRM. The (types of) houses will be built based on the salaries of the policemen. PPA1M-PDRM is proof of the government's concerns over the wellbeing of policemen," he added.
 
The PPA1M-PDRM will be jointly developed by KOP Mantap Bhd, a subsidiary of Koperasi PDRM; and Protasco Development Sdn Bhd, a subsidiary of Bursa listed Protasco Bhd.
 
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The 4 May 2018 PPA1M stage show, escorted by Ali Hamza, Protasco Bhd's chairman Tan Sri Hadenan, and IGP Tan Sri Mohd Fuzi bin Harun, as well as alibi Kop Mantap representatives, PDRM (Police) has to knowingly accept (Ex) Prime Minister's calling at that time despite it's obviously a pre-election campaign.
 
Today the (Ex) Prime Minister was removed together with the entire former government. The gloomy questions surrounding the real motive of PPA1M-PDRM which expects "thousands of Policemen" to spend their money to buy (Protasco Bhd's) PPA1M houses in "particular location" is perceived as not practical, but more like a form of "potential bribery" (by Protasco Bhd) to PDRM by "using" Kop Mantap name to link to PDRM, on behalf of (Ex) Prime Minister's political calling.
 
"What if Protasco and its current management, as well as their ally (to Ex-government officer), have pending PDRM and SPRM probe ongoing, especially its questionable Federal Road Maintenance contracts obtained pre-Election, which resulted in missing cash and loss-making first quarter financial results announced last week? Would Policemen be "compromised" with Protasco's certain officers in view of (Ex) Prime Minister taking credit on PPA1M sweet story?", commented an ex-officer in the force.
 
"Protasco Bhd claims financially 100% support Kop Mantap Bhd's 49% joint venture portion and Protasco Bhd does all the work. It's a deal (bribe) too good to be true. So good why form (give) an Alibaba partnership with PDRM (JV under Kop Mantap bhd, a subsidiary of Koperasi PDRM)? Why taking policemen salary tied to politic-corporate propaganda?", added an insider.
 
"Why RM2.6 billion housing project (10,000 units x RM260k/unit at max) tied to policemen salary being approved? Why Deja Vu linked to RM2.6 billion numbers, a number co-incidentally cursed associate to a potential national scandal, and now holding PDRM officers on ransom by the related parties? The worst part is it's endorsed by (ex) PM Dato Seri Najib and his associates. PDRM should not get involved even though the JV seems to be getting free money without any money commitment", commented another ex-officer in the force.
 
How far can Protasco Bhd use PDRM and get close to police officers, including IGP Tan Sri Mohd Fuzi Harun and other top shots in PDRM to "ease" or "compromise" PDRM's potential probe, become the next focus of SPRM and other new government agencies post-election. A recent insider leak pointed out the missing cash and cash linked to former government officers seized, is too good to be true pertaining to the timing of money trail, award of contracts, as well as pre-election publicity campaigns organized by Protasco Bhd on behalf of (Ex) Prime Minister Dato Seri Najib bin Tun Razak. 
 
On 30 may 2018, Protasco Bhd's Annual General Meeting (AGM) followed by first quarter result was a devastating moment of truth, where RM62 million cash went missing compared Y-to-Y, on top of RM2.1 million loss. The money went missing during Jan-Mar 2018 quarter before Protasco Bhd announced (ex) government awarded 5 federal road contracts to Protasco Bhd.
 
Protasco Bhd's long-time director Dato Hanif resigned the same day after AGM and the quarterly report claiming "retirement".
 
 
Refers to:
 
1. 25 March 2018 (ex) Prime Minister said (ex) government approved PPA1M-PDRM scheme involved 10,000 houses worth RM1.2 billion - RM2.6 million (based on RM120,000-RM260,000 per unit). https://www.nst.com.my/news/nation/2018/03/349133/pm-announces-three-major-incentives-during-police-day-celebrations-nsttv
2. 5 April 2018 "The [ex] Government of Malaysia" awarded [renewal] of Federal Road maintenance contracts in Selangor, Pahang, Terengganu and Kelantan" http://www.bursamalaysia.com/market/listed-companies/company-announcements/5748557
3. 10 April 2018 Protasco Bhd's Executive Vice Chairman cum Managing Director Dato Seri Chong Ket Pen went press conference taking credit for contract award, claims an estimated RM500 million work from road maintenance contracts per year taken by Protasco Bhd.  https://themalaysianreserve.com/2018/04/10/protasco-focuses-on-key-business-as-main-driver-of-revenue/
4. 4 May 2018 PDRM's IGP Tan Sri Mohamad Fuzi Harun (reluctantly) used by Protasco Bhd to campaign for Dato Seri Najib Razak's PPA1M credit taking campaign 5 days before GE-!4. https://www.hmetro.com.my/mutakhir/2018/05/336771/50-polis 
5. 25 May 2018 Cash seized from Pavilion apartments totaled RM114 mil — PDRM. http://www.theedgemarkets.com/article/cash-seized-pavilion-apartments-totalled-rm114-mil-%E2%80%94-pdrm
6. 30 May 2018 Protasco Bhd quarter 1 (Jan-Mar 2018) shown RM62 mil cash went missing and RM2.1 mil loss-making results: http://www.bursamalaysia.com/market/listed-companies/company-announcements/5807905
7. 30 May 2018 Director Mohd Hanif bin Sher Mohamed resigned http://www.bursamalaysia.com/market/listed-companies/company-announcements/5807925
 
 
 
 
NST-Review
= Find Truth In-Between-The-Lines =
 
 

HOT! Play 'dirty', AirAsia Bhd chief Tony Fernandes told ex-CEO Chandilya. What Protasco Bhd chief Chong Ket Pen told ex-PM Najib bin Razak? - PH-NEWS | 3 June 2018

https://klse.i3investor.com/blogs/fraudstersnews/159328.jsp

 

 
 

 

By NST Online - March 25, 2018 @ 12:02pm

 

KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak today announced three major national incentives in conjunction with Malaysia’s 211th Police Day.

Najib announced an allocation of RM15 million for Pulapol; RM1.5 billion in funds for Amanah Saham Bumiputera (ASB) i-KOP; and 10,000 houses under the 1Malaysia Civil Servant Housing Project (PPA1M)-PDRM.

"The RM15 million allocation is for upgrading works at Pulapol.

"The government, through Permodalan Nasional Bhd (PNB), has also allocated RM1.5 billion for ASB i-KOP for Koperasi Polis Diraja Malaysia Bhd (Koperasi PDRM) members.

“This will benefit policemen who were members of Koperasi PDRM," he said in his speech during a Police Day ceremony at Pulapol here.

As for the PPA1M-PDRM, Najib said a total of 405 units, known as PPA1M Kenanga, will be built in Precinct 19, Putrajaya; and will be priced between RM120,000 and RM260,000.

"In the 2018 Budget announcement last year, the government (said that it had approved) the building of 10,000 houses for policemen under PPA1M-PDRM.

"The (types of) houses will be built based on the salaries of the policemen.

"PPA1M-PDRM is proof of the government's concerns over the wellbeing of policemen," he added.

The PPA1M-PDRM will be jointly developed by KOP Mantap Bhd, a subsidiary of Koperasi PDRM; and Protasco Development Sdn Bhd.

The Prime Minister reiterated the 2018 Budget announcement that RM9 billion had been allocated for the police to increase safety at the country’s borders, and to enhance public order.

A total of RM720 million was also set aside to build 11 headquarters, six police stations and to purchase firearm fittings and operation vehicles.

Present at the event were Najib's wife, Datin Seri Rosmah Mansor; Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi and wife Datin Seri Hamidah Khamis; Inspector-General of Police (IGP) Tan Sri Mohamad Fuzi Harun; Deputy IGP Tan Sri Noor Rashid Ibrahim; and former IGP Tun Mohammed Hanif Omar.

 

Report by MOHD FAUZI ABDULLAH, TASNIM LOKMAN, NOR AIN MOHAMED RADHI and NUR LELA ZULKIPLI

 

 

 

Discussions
Be the first to like this. Showing 3 of 3 comments

Daim4u

Worst than myEG. MYEG is small fly compare to billions of people money paid "through" Protasco Bhd. Let SPRM finish investigate and return illegal money back to people of Malaysia.

2018-06-04 12:36

CatchCrook

Chong's head Jib already chops off. The kaki like CKP still hide inside Protasco and buying Protasco shares. When is new government going to catch all these cronies and take back investors money?

2018-06-04 15:11

CatchCrook

Illegal salaries. Dividend. Politic funds. Protasco no wonders empty already.

2018-06-04 15:12

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