PKA gets cracking on PKFZ report
Andrew OngPublished: Jun 10, 2009 6:41 PM | Updated: Jun 11, 2009 11:04 AM
The Port Klang Authority (PKA) has established a 'special task force' and two committees to act on the findings of the Port Klang Free Zone audit report by Pricewaterhouse Coopers (PwC).
updated 7.55pm
The management body of the PKFZ project has established three new bodies to act on the findings of the audit report of the troubled project.
The Port Klang Authority (PKA) has established a ‘special task force' and two committees to act on the findings of the Port Klang Free Zone audit report by Pricewaterhouse Coopers (PwC).
The task force consists of lawyers, accountants, quantity surveyors and building cost consultants from reputable firms, headed by senior lawyer Vinayak Pradhan.
Other members include senior lawyer Lim Chee Wee, PwC managing director Chin Kwai Fatt, and PwC senior executive director Lim San Peen.
"They should come back with clear recommendations on how to rectify the wrongs and pursue appropriate legal remedies," Transport Minister Ong Tee Keat told a press conference in Putrajaya today.
“We are looking at the nitty gritty... details will include the outstanding debts and all the financial details. We believe that there are many more things that we should do in the best interest of the people,” he said.
Ong added that the task force would be given two months to complete their task, but it would take up to two weeks for the team to draw up its terms of reference and fees, as they were appointed today.
Meanwhile, the two other committees would be serving a longer term.
The first is the committee of Corporate Governance led by Paul Low Seng Kuan, who is the president of Malaysian chapter of Transparency International, and assisted by Nik Mohd Hasyudeen Yusoff, who is the president of the Malaysian Institute of Accountants.
"It shall oversee all future governance issues to ensure that the lapses that have been identified in the (audit) report do not recur in the future.
"The committee has also been tasked with putting in place a long-term control mechanism to ensure the PKA board and management follow and abide by good governance rules and regulations," PKA chairperson Lee Hwa Beng said in a statement distributed at the press conference.
The second committee, dubbed the PKFZ executive committee, would be overseeing the business operations, particularly in marketing the project and drawing investors in the project.
The six-member executive committee will be headed by Lee and co-chaired by Federation of Malaysia Manufacturers Selangor chairperson James Alfred David.
New website for Port Klang Free Zone news
The second committee, dubbed the PKFZ executive committee, would be overseeing the business operations, particularly in marketing the project and drawing investors in the project.
The six-member executive committee will be headed by Lee and co-chaired by Federation of Malaysia Manufacturers Selangor chairperson James Alfred David.
Meanwhile, Ong also announced that a new website - www.pkfznews.com.my - to address technical matters have been established.
Elaborating on the purpose of the website, Lee said that PKA wanted to engage the public in a constructive manner and disseminate accurate information about PKFZ’s development.
Quizzed about the scope of the three new bodies later, Ong said that they are not capable of taking an enforcement action.
“We have to work within our jurisdiction. That explains why immediately upon the release of the report I directed (the PKA chairperson) to hand over a copy of the report to MACC and PAC,” said Ong.
The following day after the audit report was released, Lee submitted copies of the document to both the Malaysian Anti-Corruption Commission and the Parliament Public Accounts Committee.
'Unusual and historic appointment'
Asked if the transport ministry could take action against past transport ministers involved in the project, Ong replied: “I’m not going to put the cart before the horse”.
Asked why did PKA wait until now to act, despite the audit report being ready by February, Ong told reporters to refer to the website in the future for an answer.
He again urged reporters to look up the website when asked if PKFZ turnkey developer Kuala Dimensi Sdn Bhd was consulted prior to the audit report being released.
Speaking to reporters later, corporate governance committee chair Paul Low said that his appointment was “unusual and historic”.
“This is the first time the government allow an NGO to chair (such) a committee,” said Low.
Low said that his role is to make recommendations of good practices of governance including putting in place areas of accountability and anti-bribery policies as part of the management of PKFZ.
“We want to make PKFZ the model government agency,” he added.
The task force consists of lawyers, accountants, quantity surveyors and building cost consultants from reputable firms, headed by senior lawyer Vinayak Pradhan.
Other members include senior lawyer Lim Chee Wee, PwC managing director Chin Kwai Fatt, and PwC senior executive director Lim San Peen.
"They should come back with clear recommendations on how to rectify the wrongs and pursue appropriate legal remedies," Transport Minister Ong Tee Keat told a press conference in Putrajaya today.“We are looking at the nitty gritty... details will include the outstanding debts and all the financial details. We believe that there are many more things that we should do in the best interest of the people,” he said.
Ong added that the task force would be given two months to complete their task, but it would take up to two weeks for the team to draw up its terms of reference and fees, as they were appointed today.
Meanwhile, the two other committees would be serving a longer term.
The first is the committee of Corporate Governance led by Paul Low Seng Kuan, who is the president of Malaysian chapter of Transparency International, and assisted by Nik Mohd Hasyudeen Yusoff, who is the president of the Malaysian Institute of Accountants."It shall oversee all future governance issues to ensure that the lapses that have been identified in the (audit) report do not recur in the future.
"The committee has also been tasked with putting in place a long-term control mechanism to ensure the PKA board and management follow and abide by good governance rules and regulations," PKA chairperson Lee Hwa Beng said in a statement distributed at the press conference.
The second committee, dubbed the PKFZ executive committee, would be overseeing the business operations, particularly in marketing the project and drawing investors in the project.
The six-member executive committee will be headed by Lee and co-chaired by Federation of Malaysia Manufacturers Selangor chairperson James Alfred David.
New website for Port Klang Free Zone news
The second committee, dubbed the PKFZ executive committee, would be overseeing the business operations, particularly in marketing the project and drawing investors in the project.
The six-member executive committee will be headed by Lee and co-chaired by Federation of Malaysia Manufacturers Selangor chairperson James Alfred David.Meanwhile, Ong also announced that a new website - www.pkfznews.com.my - to address technical matters have been established.
Elaborating on the purpose of the website, Lee said that PKA wanted to engage the public in a constructive manner and disseminate accurate information about PKFZ’s development.
Quizzed about the scope of the three new bodies later, Ong said that they are not capable of taking an enforcement action.
“We have to work within our jurisdiction. That explains why immediately upon the release of the report I directed (the PKA chairperson) to hand over a copy of the report to MACC and PAC,” said Ong.
The following day after the audit report was released, Lee submitted copies of the document to both the Malaysian Anti-Corruption Commission and the Parliament Public Accounts Committee.
'Unusual and historic appointment'
Asked if the transport ministry could take action against past transport ministers involved in the project, Ong replied: “I’m not going to put the cart before the horse”.
Asked why did PKA wait until now to act, despite the audit report being ready by February, Ong told reporters to refer to the website in the future for an answer.He again urged reporters to look up the website when asked if PKFZ turnkey developer Kuala Dimensi Sdn Bhd was consulted prior to the audit report being released.
Speaking to reporters later, corporate governance committee chair Paul Low said that his appointment was “unusual and historic”.
“This is the first time the government allow an NGO to chair (such) a committee,” said Low.
Low said that his role is to make recommendations of good practices of governance including putting in place areas of accountability and anti-bribery policies as part of the management of PKFZ.
“We want to make PKFZ the model government agency,” he added.
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