A thorough independent audit is needed on the Selangor state agencies that are owed RM391 million by Talam Corp Bhd to find out how the debt arose and who is responsible for allowing it to linger. What wonders it would reveal!
The stage agencies concerned are subsidiaries of Selangor Development Corporation (PKNS), Kumpulan Darul Ehsan Bhd (KDEB), Permodalan Negeri Selangor Bhd (PNSB) and Yayasan Pendidikan Selangor.
State agencies usually come under the purview of top Selangor government leaders, and if these debts go back a decade as has been reported, then those responsible in the previous administrations have to be held accountable.
State agencies are believed to have entered into joint ventures with Talam to develop huge land banks. It was supposed to be a “win-win situation” – but obviously something went wrong, somewhere. Talam reportedly secured large landbanks in Ampang, Sepang, Puchong, Bukit Jalil and Rawang, all prime areas.
