More disturbing headline “Most Pempena investments are bad”. The Tourism Minister admitted that only a few of the 24 companies that were invested in by Pempena Sdn Bhd, the controversial subsidiary of the Tourism Ministry, showed profits in the last three years. Pempena had invested RM54mil via equity participation and advances made to its Investee Companies from March 1997 to November 2007.
That’s all? Announcement made and end of story? How can – anti climax! Another one bites the dust. Another throwing good money after bad thingy. It is high time someone must take full responsible for this mismanagement. (nicer word – thought of using other words!).
It is driving us crazy. Expect the rakyat to pay higher taxes and reduce the subsidy for petrol, then lo and behold, flush out this money with questionable investment and projects!!! Change Must Come to Putrajaya!!!
KIFAC 2019 - Part 4
5 years ago
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