'Why no accounts from 1MDB subsidiaries?'
Ram AnandPublished: Nov 11, 2014 12:29 PM | Updated: Nov 11, 2014 10:58 PM
An MP has accused subsidiaries of 1Malaysia Development Bhd (1MDB) of being "recalcitrant"in not submitting their annual financial statements to the Companies Commission on time.
DAP's Petaling Jaya Utara MP Tony Pua said this when quoting a written answer to Parliament last month that two major subsidiaries, 1MDB Energy and 1MDB Real Estate, would submit their statements by the end of October this year.
UPDATED 5.58PM
Three major 1MDB firms did not file accounts for over two years, says Pua.
An MP has accused subsidiaries of 1Malaysia Development Bhd (1MDB) of being "recalcitrant"in not submitting their annual financial statements to the Companies Commission on time.
DAP's Petaling Jaya Utara MP Tony Pua said this when quoting a written answer to Parliament last month that two major subsidiaries, 1MDB Energy and 1MDB Real Estate, would submit their statements by the end of October this year.
"However, it is almost mid-November now, and yet the financial statements are nowhere to be seen, despite the statements being late by more than 24 months," Pua said.
Both the companies last filed their statements for the financial year ending March 2012.
"Another key subsidiary, Powertek Investment Holdings Bhd, has also not filed its accounts since March 2012," Pua told a press conference at the Parliament lobby today.
Pua (left) also named a host of other subsidiary companies who had submitted financial reports in the past one year at least.
Among them are Farlim Properties Sdn Bhd, Gerak Indera Sdn Bhd and Jimah Energy Ventures Sdn Bhd who last submitted their accounts for December 2012.
1MDB hotels and resorts, 1MDB Energy Holdings Sdn Bhd, 1MDB Synergy Sdn Bhd, Mastika Lagenda Sdn Bhd, and Powertek Bhd have not submitted accounts since March 2013.
"These are merely companies which I have bothered to pay RM 15 each to verify, and not the full extensive list of 1MDB's subsidiaries," he said.
He said that the lack of governance and transparency in a government owned corporation was "shocking and disgraceful."
"There is absolutely no reason for these subsidiary accounts to be further delayed unless 1MDB has something to hide," he said.
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DAP's Petaling Jaya Utara MP Tony Pua said this when quoting a written answer to Parliament last month that two major subsidiaries, 1MDB Energy and 1MDB Real Estate, would submit their statements by the end of October this year.
"However, it is almost mid-November now, and yet the financial statements are nowhere to be seen, despite the statements being late by more than 24 months," Pua said.
Both the companies last filed their statements for the financial year ending March 2012.
"Another key subsidiary, Powertek Investment Holdings Bhd, has also not filed its accounts since March 2012," Pua told a press conference at the Parliament lobby today.
Pua (left) also named a host of other subsidiary companies who had submitted financial reports in the past one year at least.Among them are Farlim Properties Sdn Bhd, Gerak Indera Sdn Bhd and Jimah Energy Ventures Sdn Bhd who last submitted their accounts for December 2012.
1MDB hotels and resorts, 1MDB Energy Holdings Sdn Bhd, 1MDB Synergy Sdn Bhd, Mastika Lagenda Sdn Bhd, and Powertek Bhd have not submitted accounts since March 2013.
"These are merely companies which I have bothered to pay RM 15 each to verify, and not the full extensive list of 1MDB's subsidiaries," he said.
He said that the lack of governance and transparency in a government owned corporation was "shocking and disgraceful."
"There is absolutely no reason for these subsidiary accounts to be further delayed unless 1MDB has something to hide," he said.
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