The controversial RM33.4 million remuneration package given to Puncak Niaga Holdings Bhd (PNHB) executive chairman Tan Sri Rozali Ismail must be investigated, said DAP today.
DAP publicity chief Tony Pua urged the National Water Services Commission (SPAN) to take all necessary action to investigated this “payout” in order to protect the interest of Malaysians.
The Petaling Jaya Utara MP also called on the Ministry of Energy, Green Technology and Water must also stop all extraordinary and non-operational payouts in water concessionaires.
On Wednesday, Klang MP Charles Santiago questioned the RM33.4 million remuneration, which included a RM20 million retirement gratuity, given to Rozali in 2012 for his services.
The revelation on the remuneration last week invited criticisms against the company, which is the majority shareholders of Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), the concession which manages water in the Klang Valley.
However, Syabas has defended itself against the attacks and is considering legal action, while a report in The Malay Mail quoted minority shareholders, Puncak Niaga (PNHB) Minority Shareholders Watchdog Group (MSWG), as saying that the amount was “deserved” and was approved in the company’s annual general meeting on June 26.
Pua expressed shock that the group would defend the remuneration package, given that the company has allegedly not been doing well financially in the past five years.
“On paper, PNHB recorded a net profit of RM233 million for the financial year 2012. However, it should be highlighted that PNHB achieved profitability only because it recognised a RM1.02 billion ‘water tariff compensation’ from the Selangor State Government,” said Pua.
This compensation, said Pua, was never agreed to by the Selangor government because PNHB and its subsidiary, Syabas, “failed to fulfil its obligations under the water concession agreement|.
“The failure includes but is not limited to SYABAS’s failure to repair and replace aging pipes, and consequently to reduce the percentage of non-revenue water in Selangor,” he said.
The amount was also being disputed in court and Pua argued that it should not be recognised as “revenue” for PNHB in the first place.
If the Selangor state compensation was removed from the equation, Pua said that PNHB would have made massive losses of up to RM791 million.
“Given such underlying performance in the company, does the PNHB-MSWG really believe that Rozali fully deserves the RM33.4 million payoff?”
“In fact under normal circumstances, they should logically be calling for the company’s top management to be axed, and not in this case, lucratively rewarded!”
Pua said in 2011, PNHB made net losses of RM83 million, despite recognising RM458 million in “water tariff compensation”, meaning total losses without the “compensation” would have been as high as RM541 million.
Going back further, PNSB made losses of RM92 million (2010) after recognising “water tariff compensation” of RM419 million (2010), he said.
Teoh El Sen
Fri Jul 05 2013
Kertas kabinet wujud sektor sukan dibentang dalam tempoh sebulan - Hannah
Hannah berkata dengan data yang lebih menyeluruh melibatkan sektor industri sukan nanti, pihaknya akan mampu merangsang pertumbuhan sukan di negara ini dengan lebih baik.
Tiga Syarikat Semikonduktor umum melabur di Pulau Pinang - Kon Yeow
Tiga syarikat semikonduktor dari China menyatakan komitmen untuk membuat pelaburan baharu di Pulau Pinang.
Pindaan garis panduan lawatan: Sekolah diharap susun semula program - Fadhlina
Semua sekolah diharap dapat menyusun semula program lawatan masing-masing berikutan pindaan Garis Panduan Lawatan Murid Sekolah pada tahun lepas bagi mengukuhkan pembelajaran di luar kelas, kata Menteri Pendidikan, Fadhlina Sidek.
Kebajikan pendidikan anak-anak dijaga sehingga tamat sekolah - KPM
Kementerian Pendidikan Malaysia akan memastikan kebajikan pendidikan anak-anak 10 pegawai dan anggota Tentera Laut Diraja Malaysia yang terkorban dalam nahas helikopter di Lumut, Perak, terus dijaga sehingga mereka tamat persekolahan.
Chegubard ditahan polis berkaitan hantaran mengenai kasino di Forest City
Chegubard ditahan di Ibu Pejabat Polis Daerah (IPD) Dang Wangi di sini berkaitan hantaran mengenai pengoperasian kasino di Forest City pada Sabtu.
Zahid minta pihak dalam BN buka "buku baharu"
Ahmad Zahid menegaskan senario politik tanah air sudah berubah dan terdapat banyak video lama dari parti lawan yang meminta pengundi menyokong DAP.
Malaysia kongsi pengalaman dalam usaha berterusan mempertahan Palestin
Delegasi negara akan berkongsikan peranan Malaysia dalam usaha berterusan mempertahankan nasib Palestin dalam Persidangan Liga Parlimen Al-Quds kelima yang berlangsung di Istanbul, Turki pada Sabtu.
Universiti Malaya mohon maaf kepada seluruh rakyat Malaysia
Jabatan Pengajian Antarabangsa dan Strategik, Universiti Malaya memohon maaf kepada seluruh rakyat Malaysia berhubung kenytaaan tidak bertanggungjawab Profesor Dr Bruce Gilley pada 24 April lalu.
Genting Malaysia nafi terbabit perbincangan
Selepas Berjaya Corporation Bhd dan Kerajaan Negeri Johor, kini Genting Malaysia Bhd pula menafikan sebarang penglibatan dalam perbincangan mengenai pengoperasian kasino di Forest City, Johor.
Berita tempatan pilihan sepanjang hari ini
Berikut adalah berita yang paling menjadi tumpuan sepanjang Sabtu, 27 April 2024.
Tokoh korporat Rozali Ismail mahu ceburi dunia politik wakili suara peneroka Felda
Tokoh korporat Tan Sri Rozali Ismail menyuarakan hasrat untuk menyertai bidang politik melalui penubuhan parti baharu bagi mewakili generasi peneroka terutamanya penduduk Felda.
Mahkamah Persekutuan arah kes saman RM13.5 bilion Puncak Niaga terhadap Khalid Ibrahim dibicarakan
Mahkamah Persekutuan memerintahkan saman yang difailkan Puncak Niaga terhadap Abdul Khalid berhubung penstrukturan semula industri perkhidmatan air negeri, dibicarakan di Mahkamah Tinggi Shah Alam.
Azmin gagal dalam tuntutan balas terhadap Puncak Niaga
Hakim Mahkamah Tinggi Datuk Akhtar Tahir menolak tuntutan balas tersebut dengan kos RM3,000 selepas mendapati tiada kausa tindakan terhadap Puncak Niaga.
Puncak Niaga rayu keputusan mahkamah batal saman RM14 bilion
Puncak Niaga akan memfailkan rayuan terhadap keputusan mahkamah yang membatalkan saman hampir RM14 bilion syarikat itu terhadap bekas Menteri Besar Selangor.
Mahkamah batal saman RM14 bilion Puncak Niaga
Tan Sri Abdul Khalid Ibrahim, Datuk Seri Azmin Ali dan Kerajaan Selangor berjaya dalam permohonan mereka untuk membatalkan saman hampir RM14 bilion yang difailkan Puncak Niaga Holdings Bhd.
Azmin arah peguam batalkan saman Puncak Niaga
Mohamed Azmin berkata beliau telah mengarahkan peguam yang mewakilinya dan kerajaan negeri untuk mengambil tindakan itu atas alasan dakwaan Puncak Niaga dalam saman berkenaan tidak berasas.
Azmin yakin pengambilalihan aset PNHB oleh air Selangor selesai 15 Okt ini
Azmin yakin proses pengambilalihan aset air Puncak Niaga Holdings Berhad (PNHB) oleh Pengurusan Air Selangor Sdn Bhd (Air Selangor) dapat diselesaikan pada 15 Okt ini.
Rafizi sifatkan SYABAS dan Puncak Niaga nampak dangkal kerana mahu saman
Rafizi berkata menjadi tanggungjawabnya sebagai seorang wakil rakyat untuk mengkritik prestasi SYABAS di atas kelemahan perancangan dan operasi syarikat itu.