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IPOH: Datuk Hamidah Osman has alleged that Perak Corporation Berhad (PCB) is in the process of liquidation.
“All the information I gathered is from Bursa Malaysia, where you can see that the company’s liabilities have outnumbered its assets,” Parti Putra Malaysia Vice President said at a press conference at the party’s office in Sunway City. here on Tuesday (September 15). ).
Among the information shown to the media was the PCB’s financial status, the summary of properties, corporate structures, a list of announcements from the Kuala Lumpur Stock Exchange (BSKL) about the company and a list of the litigation filed against the company.
PCB is a key subsidiary of Perbadanan Kemajuan Negeri Perak Group (PKNP Group). Its key activities are to support PKNP Group as the main driver of economic development in Perak.
PCB’s main activities are structured around three main businesses: real estate development, ports and logistics, as well as hotels and tourism.
Hamidah also claimed that the current available cash and bank balances at the company are only RM25,000.
“When I was still on the board of the state committee, the company had at least RM200 thousand in cash and 600 acres of land.
On February 12, it was reported that the company had become an affected issuer under Practice Note 17 (PN17) under Bursa Malaysia Securities’ main market listing requirements.
“But at this point, according to the financial statements available in Bursa, the company’s liabilities have outnumbered its assets.
“Besides that, the loans guaranteed by the company amount to RM520 thousand and it has been included in PN17,” he said.
PN17 stands for Practice Note 17/2005, issued by Bursa Malaysia in relation to companies in financial distress.
On July 3, it was reported that the state government was seeking private investors to take over RM520mil Movie Animation Park Studios (MAPS). The theme park that first opened to the public in June 2017 has been closed since January of this year.
Former Vice Chairman of Parti Pribumi Bersatu Malaysia also claimed that if proper action is not taken, PCB may have to sell its assets, including MAPS, the Casuarina @ Meru hotel and the Lumut port to cover its losses and debts.
When he met in Pulau Pangkor, Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu denied Hamidah’s accusations.
“All the claims made by Hamidah are completely false.
“We have made some changes to the PCB board of directors and brought in several notable figures to help us solve the internal problem at PCB.
“At this time our main concern is to get out of PN17 and we do not plan to sell any of our assets.
“In fact, during a meeting I had with the PCB board of directors, I made it clear that we will not sell any of our assets, not even a pencil,” he said, adding that the company had no intention of selling Lumut Port. .
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