UPDATED as at 04 January 2009, 10:52 PM:
I am sorry for any misinformation or misleading fact that arises out of this post.
Please be informed that I am only commenting on a personal capacity. Thus, the erroneous judgment or wild guess.
Please take note that the money has gone to MalaysiaMyDestination.com
Original posting:
MCA Wanita chief Chew Mei Fun has resigned from the Tourism Ministry’s controversy-ridden subsidiary Pempena Sdn Bhd eight months after she was picked to head the agency...Pempena - a national tourism development company set up in 1976 by Tourism Malaysia - could chalked up as much as RM50 million in losses due to a litany of bad investments, criminal breach of trust and financial improprieties...Allegations against Pempena first surfaced in a July 2 Malaysiakini report regarding a memorandum by Pempena staff to Tourism Minister Azalina Othman, alleging graft and breach of trust by two key figures in the company...The alleged wrongdoings happened before Chew took over Pempena. Then Pempena's boss was another MCA politician, Deputy Home Minister Chor Chee Heung...“During my stewardship in Pempena for the last eight months, despite facing unfair allegations and various negative publicity ... I had patiently strive to resolve problems and find solutions for the company,” said Chew in press statement today. She said that among the actions taken was the appointment of PricewaterhouseCoopers (PWC) to undertake a business review of Pempena. In a scathing report, PWC revealed that Pempena had invested a total of RM54.5 million in 24 companies, but only four generated profits. The report also said that Pempena invested in five non-functional companies and recommended divesting the companies which would result in a loss of approximately RM20 million. PWC also found that the RM18.3 million of Pempena’s Executive Taxi Services (Pets) luxury taxi project has so far recorded a loss of up to RM7.8 million. The PWC report however did not deal with a number of other allegations highlighted by Malaysiakini, such as the RM10 million e-tourism portal. (Source: Malaysiakini)
Credit to be given to Chew for striving to resolve problems but I wonder why the selective reporting on the business review of Pempena by PWC. Why no report on the RM10 million e-tourism portal? Something to hide? Obviously. I guess the domain of this e-tourism portal is VirtualMalaysia.Com
Perhaps, the RM10 million invested in this VirtualMalaysia.Com is virtually lost!
I am sorry for any misinformation or misleading fact that arises out of this post.
Please be informed that I am only commenting on a personal capacity. Thus, the erroneous judgment or wild guess.
Please take note that the money has gone to MalaysiaMyDestination.com
Original posting:
MCA Wanita chief Chew Mei Fun has resigned from the Tourism Ministry’s controversy-ridden subsidiary Pempena Sdn Bhd eight months after she was picked to head the agency...Pempena - a national tourism development company set up in 1976 by Tourism Malaysia - could chalked up as much as RM50 million in losses due to a litany of bad investments, criminal breach of trust and financial improprieties...Allegations against Pempena first surfaced in a July 2 Malaysiakini report regarding a memorandum by Pempena staff to Tourism Minister Azalina Othman, alleging graft and breach of trust by two key figures in the company...The alleged wrongdoings happened before Chew took over Pempena. Then Pempena's boss was another MCA politician, Deputy Home Minister Chor Chee Heung...“During my stewardship in Pempena for the last eight months, despite facing unfair allegations and various negative publicity ... I had patiently strive to resolve problems and find solutions for the company,” said Chew in press statement today. She said that among the actions taken was the appointment of PricewaterhouseCoopers (PWC) to undertake a business review of Pempena. In a scathing report, PWC revealed that Pempena had invested a total of RM54.5 million in 24 companies, but only four generated profits. The report also said that Pempena invested in five non-functional companies and recommended divesting the companies which would result in a loss of approximately RM20 million. PWC also found that the RM18.3 million of Pempena’s Executive Taxi Services (Pets) luxury taxi project has so far recorded a loss of up to RM7.8 million. The PWC report however did not deal with a number of other allegations highlighted by Malaysiakini, such as the RM10 million e-tourism portal. (Source: Malaysiakini)
Credit to be given to Chew for striving to resolve problems but I wonder why the selective reporting on the business review of Pempena by PWC. Why no report on the RM10 million e-tourism portal? Something to hide? Obviously. I guess the domain of this e-tourism portal is VirtualMalaysia.Com
Perhaps, the RM10 million invested in this VirtualMalaysia.Com is virtually lost!
No comments:
Post a Comment