The mysterious businessman who bought Perangsang International Sdn Bhd (PISB) - the troubled contractor of the controversial Matrade building project - has claimed he knew 'nothing' about the deal.

"I don't know anything about the case," said Chong Sang, 56, one of the two owners of Tajuk Modal which bought PISB two years ago, when contacted by malaysiakini earlier this week.

Chong claimed that all documents relating to the acquisition was handled by business partner Yap Fook Sang, who is the other director of Tajuk Modal.

However, efforts to contact Yap has been unsuccessful.

It is learnt that the Anti-Corruption Agency (ACA) has begun investigation into the multi-million ringgit Matrade (Malaysian External Trade Development Corporation) scandal last week.

According to Selangor state assemblyperson Teng Chang Khim who lodged a report to the Securities Commission (SC) last week against PISB, the ACA, SC and Companies Commission of Malaysia had all separately launched probes into the matter.

Teng said that ACA had seized Tajuk Modal's files from its company secretary's office in Taman Maluri, Kuala Lumpur.

When contacted, an ACA officer who requested anonymity, confirmed the investigation but refused to reveal further details on the probe.

Tajuk Modal Sdn Bhd, a RM2 shell company, bought PISB for RM2 from Kumpulan Hartanah Selangor Berhad (KHSB) - a government-linked company owned by the Selangor state government in 2004.

Soon after, PISB changed its name to Tajuk Construction and the company was later wound up in January this year despite receiving an order from the federal government to pay compensation of RM159.8 million as a result of the nine-year delay in completing the Matrade building.

Teng also said that the Companies Commission had interviewed Norlida Jamaludin, the KHSB's company secretary, last week.

When asked why Tajuk Modal had decided to acquire PISB when it had liabilities of RM18 million, Chong said: "I don't understand why the company was wound up... we bought the shares for RM2 to see if we can make some money.

"I don't even know English," he confessed.

Attempt to 'cheat' federal govt?

Malaysiakini visited the registered address of Tajuk Modal and found that its office belongs to an accounting consultant company.

The consultant firm, SF Wong Associates, serves as company secretary to over 200 companies including Tajuk Modal. It was also picked as the liquidator of PISB during the winding-up process.

However, the office's receptionist refused to reveal any information relating to Tajuk Modal.

The Matrade project's contract was first granted to PISB, a property developer, but this was terminated due to delays and shoddy construction.

Work on the Matrade building began in 1994 with completion scheduled in 1997, but the project was not finished until this year after the appointment of a new contractor.

The original construction cost of RM167 million shot up to RM287.5 million, with RM64.8 million being spent on repairs.

According to an announcement by Bursa Malaysia on July 10, 2003, PISB had received a notice from Public Works Department seven days earlier, demanding it to pay "rectification fee" amounting to RM44,245,594 in respect of the Matrade building project.

This amount later ballooned to RM159.8 million, a figure revealed by Works Minister S Samy Vellu in February this year.

The decision by Tajuk Modal to liquidate PISB not only free the company from the federal government's RM159.8 million penalty but also a debt of RM22 million from other creditors.

The whole episode of selling, renaming and winding up PISB have raised the possibility that the Selangor state government had premeditated the plan since 2003 to 'cheat' the federal government of paying compensation.

In a related development, Samy Vellu yesterday pledged to get to the bottom of the matter and take action action against PISB directors.