DAP urges Perak Corp board members to resign


Modified 26 May 2018, 11:59 am

Perak DAP has urged all board members of the Perak Corporation Berhad (PCB) to resign immediately following their weak management performance and the huge losses incurred by the state government-owned company.

State DAP chairperson Nga Kor Ming said PCB which was a subsidiary of the Perak State Development Corporation could also go bankrupt due to an increase in the company's debts caused by the Movie Animation Park Studios (Maps) project in Meru Raya.

"They (PCB board members) are political appointees...they are incapable of managing this Perak Government-owned company (PCB). They have to resign immediately," he told a press conference in Ipoh today.

The press conference was held following a news report by The Edge Markets dated May 23 which stated that the PCB incurred a net loss of RM340.6 million during the 2017 financial year, and as of 2017-end, the group’s current liabilities exceeded its current assets by RM158.5 million.

In a bourse filing on May 23, the news report said the auditors had also highlighted an impairment test which resulted in a loss of RM167.2 million as an area of audit focus due to the significance of the amount and subjectivity.

It also stated that “this is related to property, plant and equipment of a subsidiary operating a theme park, where commencement of full operation had been delayed numerous times”.

Following the report, Nga called on the MACC to carry out investigations into the huge net loss incurred by PCB.

"I do not want to make any accusation, but I think it is the task of the MACC to investigate any misconduct (in PCB)," he said.

On the Maps project, he reiterated Pakatan Harapan's stance that the previous BN-ruled government should not have built the theme park but instead, focused on looking after the wellbeing of the people.

"Whether the Maps will be closed or not, I will leave it to the wisdom of Perak Menteri Besar Ahmad Faizal Azumu as the state government needs to look for the best solution to ensure we do not continue to suffer losses," he said.

Meanwhile, Nga, who is also Teluk Intan MP, announced a donation of RM16,000 to the federal government to help reduce the country's debt which has reached RM1 trillion.

Also contributing were Kepayang assemblyman Dr Ko Chung Sen who donated RM10,000 as well as Ipoh Timur MP, Wong Kah Woh and Batu Gajah MP, V Sivakumar who contributed RM8,000 each.


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