My fourth question to Zambry – Will Zambry dare to declare that he is totally unaware of the increase in cost of MAPS, the RM250M shareholder advances by PCBD, MAPS main contractor (SDGM) financial problems and PCB became the only company funding the project despite owning only 51% of shares in ATP?

Zambry has been totally silent since my last Media Conference on the Special Internal Audit Report on MAPS last Saturday. Neither did he respond to any of my three questions for the past three days. Instead, the State assembly opposition leader Saarani came to Zambry’s rescue by saying it is not for Zambry to answer questions related to MAPS and that I was seeking cheap publicity.

Does Saarani agree with the fact that PCBD approval of RM250M shareholder advances to ATP a cheap publicity? This is an undisputable fact that needs to be taken seriously as PCB is the only company funding the project despite owning only slightly more than half of the shares in ATP. Zambry as the former Chairman of PKNP is well aware of this but he did nothing to intervene and stop PCB to be the sole company to fund the project.

It is a well-known fact that during the previous management, PKNP group practised centralized decision making. All decisions in the group were made at the level of PKNP. Therefore, Zambry as the former PKNP chairman must be fully responsible and accountable for the RM217M cost overrun in MAPS.

In Feb 2017, when the media asked Zambry on the delay of MAPS opening, Zambry replied that there was no problem with MAPS and blame it on the safety issues. Zambry wasn’t telling the truth as he was fully aware and briefed on the financial problems faced by MAPS main contractor (SDGM) and PCBD shareholder advances to ATP.

https://www.youtube.com/watch?v=tv8S_-rSbV0

I challenge Zambry to come out from his hiding to declare that he is totally unaware of the increase in cost of MAPS, the approval of RM250M shareholder advances by PCBD, MAPS main contractor (SDGM) financial problems and PCB became the only company funding the project.

If Zambry is well aware of all these facts, what has he done as the Chairman of PKNP to intervene and stop the insane move of PCBD approving RM250M shareholder advances to ATP?

Clearly, Zambry has failed his fiduciary duty as the Chairman of PKNP to exercise care and act in the best interest in his management of PKNP and its subsidiaries.

Media Conference by Chairman of the Audit Committee Perak Corporation Berhad and Keranji State Assemblyman Chong Zhemin at Hotel Casuarina @ Meru in Bandar Meru Raya Ipoh on 27 March 2019.

 

Annex

PKNP – Perbadanan Kemajuan Negeri Perak

PCB – Perak Corporation Berhad

PCBD – PCB Development Sdn Bhd

ATP – Animation Theme Park Sdn Bhd

SDGM – Sanderson Design Group (Malaysia) Sdn Bhd