Selangor axes real estate JVs

sun2surf | .... In a hard-hitting speech when tabling the Pakatan Rakyat-led state government's maiden budget for next year at the State Assembly today, Abdul Khalid said wastage due to mismanagement has deprived the rakyat of what is due to them.

"The CEOs of the GLCs will be held accountable for decisions made by their companies and the practice of the Menteri Besar to absorb the blame for the mismanagement, as practised in the past, will cease," he said.

"The services of these CEOs had been retained as we want them to answer for the misappropriation and irregularities detected in their companies. Since the Pakatan Rakyat (PR) took over on March 8, CEOs of these GLCs have not been able to rationally answer for the joint-venture projects they had entered into that were lopsided against the state.

"Their shameless answer would be that they did so under the instructions of the former Menteri Besar."

Abdul Khalid revealed that these lopsided deals were detected in the State Secretary Incorporated, Pemodalan Negeri Selangor Bhd (PNSB), Perbadanan Kemajuan Negeri Selangor (PKNS) and Perbadanan Kemajuan Pertanian Selangor (PKPS).... selanjutnya.