Tuesday, February 24, 2009

Dodgy accounts in Selangor investment arm

By Neville Spykerman

SHAH ALAM, Feb 23 — The state investment agency Permodalan Negeri Selangor Berhad's (PNSB) chief executive and finance manager have been asked to go on leave following the discovery of irregularities in the company's financial accounts.

In a statement, the Selangor state Government said the company's chief executive Datin Khairiyah Abu Hassan and finance manager Nora Azmin Radzuan have been given 30 days paid leave to facilitate investigations.

The decision was made by PNSB's board of directors.

PNSB is a wholly owned subsidiary of the Selangor state government and the irregularities and weaknesses in the financial accounts was detected by Menteri Besar Tan Sri Khalid Ibrahim

Khalid is the chairman of Selangor Menteri Besar Incorporated, the parent company of all state subsidiaries.

Among the discrepancies are PNSB's declarations to the Internal Revenue Board and the sale and purchase of real estate in Mekah between 2006 and 2007.

The Malaysian Insider has learnt that perks and bonuses of previous top officials of PNSB's were not declared to the IRB.

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