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Probe Amanah Saham Johor losses, ACA urged |
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Wednesday, 23 April 2008 07:25am |
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©The
Star (Used by permission)
BATU PAHAT: Johor PAS has urged the Anti-Corruption Agency (ACA) to investigate
the cause of losses incurred by Amanah Saham Johor (ASJ) over a short period.
Party commissioner Datuk Dr Mahfodz Mohamad said an investigation must be done
on the audit report from May 31 to Nov 30 last year because ASJ investment had
dropped from RM48.7mil to RM23mil.
“We will report to the ACA should Johor Corporation (JCorp) subsidiary Pelaburan
Johor Berhad (PJB) call for an emergency meeting of ASJ shareholders on
Thursday,” he said.
It is learnt that PJB had issued a statement calling for the emergency meeting
at a hotel here to approve a resolution to end the ASJ Scheme.
Dr Mahfodz said the action showed that JCorp was liable for ASJ’s poor
performance since 1997.
“JCorp should find a way to revive ASJ's market price instead of ending the
scheme. We hope the corporation will draft a more aggressive action plan to
revive ASJ's price,” he said.
He explained that JCorp owned more than RM10bil in assets and must take brave
action to buy all ASJ shares in cash at the original price of RM1 per unit.
“Since its inception in May 1992, a total of 125,000 Johoreans invested
RM299.35mil in ASJ,” he said.
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