N50 Dun Sri Muda

Thursday November 19, 2009

PKR reps uncertain about plan to take over debts

By SIRA HABIBU

KUALA LUMPUR: PKR representatives have mixed feelings over the Selangor Government’s decision to buy over debts amounting to RM391mil from Talam Corporation Bhd.

PKR’s Kuala Langat MP Abdullah Sani Abdul Hamid said he would seek clarification from state executive councillors whether there was any truth to the allegations that have surfaced in the media.

“I will also ask friends who are well-versed in economic matters to explain the implications of the move,’’ he said.

Sri Muda assemblyman Mat Shuhaimi Shafiei said it was all right to sacrifice a small fortune to recover the huge debt.

They were responding to media reports that PKR secretary-general Datuk Salehuddin Hashim was irked by the move, which he described as an old trick used by crooks in the corporate sector.

State executive councillor Dr Xavier Jayakumar said that the buyover of the debt was appropriate.

“If Talam fails to settle within the given time frame (three months) we can start procedures to confiscate part of its land bank to recover the amount due.

“Why harp on the additional cost involved to pay the lawyers, consultants and bank interest?

“Look at the bigger picture. Talam has in return agreed that it owes us this amount of money, and if it does not pay up, we will be able to confiscate the company’s land,’’ he said.