MB's speechh at Subang Deepavali Open House

Subsidiaries owe MBI RM450mil
By SALINA KHALID
THE Selangor state subsidiaries owe Menteri Besar Incorporated (MBI) more than RM450mil, Mentri Besar Tan Sri Abdul Khalid Ibrahim said.
He said the state had detected some irregularities in several of these state subsidiaries’ financial accounts after the restructuring exercise and review of Menteri Besar Incorporated last year. MBI is the parent company of all the state subsidiaries, and as the Mentri Besar, Khalid serves as the chairman of MBI.
“We did an analysis of all the assets and liabilities of these companies and detected substantial amounts owed by these subsidiaries to MBI.
“We are now making a concerted effort to collect all the amount owed by these companies and to make sure they pay up.
For you: Sivarasa (left) presenting a hamper senior citizens and the poor at the Deepavali Open House
“The money can be used for a lot of things for the people in the state,” he said.
He said, so far the amount detected was about RM450mil, but it could be higher.
He added that these debts were incurred from various sources, including the sale of properties and land, various projects and other activities whereby the subsidiaries were supposed to pay to MBI. However, the money was not paid to MBI.
“We want to return the rakyat’s money to the rakyat by making all these companies pay their debts to the state.
“This is my promise to the rakyat before the end of my term as Mentri Besar.
“It is something that none of the the previous Mentris Besar could do,” he said.
Khalid was speaking at the Subang Parliamentary Deepavali Open House held in Kota Damansara on Sunday.
MBI is not just a finance company under the state government; it also has the power to make contracts, acquire, enjoy, sell or transfer any movable and immovable properties under certain terms and conditions.
Following the restructuring exercise early this year, MBI serves as the sole investment body for the state.
Among the companies under its wing are Kumpulan Darul Ehsan Berhad, Permodalan Negeri Selangor Bhd, MSNS Holding Sdn Bhd, Pusat Pelaburan Selangor Berhad, Pendiddikan Industri Yayasan Selangor Berhad, Kumpulan Semesta Sdn Bhd, Bukit Beruntung Golf & Country Resort, Rantaian Mesra Sdn Bhd and Tourism Selangor Sdn Bhd,
When asked to elaborate on how the state planned to collect the amount owed by the subsidiaries, Khalid said it would be done by transferring the account to the state.
“To make sure that these companies do not forget to pay up, we will transfer the account to the state.
“That way, they will always remember to pay,” he said, adding that any transaction regarding the amount would be recorded in the state’s financial account.
He added that the matter would be discussed during the upcoming state assembly to be held from Nov 9 to 17.
Meanwhile, about 2,000 guests attended the Deepavali open house that was organised by Subang Member of Parliament R. Sivarasa.
Guests were greeted by Sivarasa and treated to lunch while being entertained with song and dance performances.
Also present at the event was state executive councillor Elizabeth Wong.
Khalid later presented hampers to the needy and senior citizens from the area.