(The Malaysian Insider) - The Selangor government will commission five international accounting firms to review its debt restructuring agreement with Talam Corporation and clear the air over claims of funds abuse by MCA, Mentri Besar Tan Sri Khalid Ibrahim announced today.
Khalid insisted this afternoon at the Selangor state assembly that his administration had not relieved Talam Corp of its debts as claimed but instead had recovered monies that the troubled property developer owed the state’s subsidiaries.
“But if we want to explain all this one by one, it will take time,” Khalid said, referring to a sheaf of documents in front of him, which he said details the debt recovery exercise.
“We will let the professionals handle the evaluation,” he said.
Khalid said the five firms, to be announced soon, will conduct an independent review of Mentri Besar Incorporated’s (MBI) agreement with Talam Corp and that its findings will be presented to the next assembly sitting.
This, he added, would show how MBI had recovered the RM392 million debt from Talam Corp, now known as Trinity Corp, and put an end to the allegations of funds abuse by MCA leaders.
“We will show our returns and to show how this effort was managed, we will also invite the former accountant-general of Malaysia Datuk (Mohd) Salleh (Mahmud) to ensure that the review done by these accounting firms are free from MBI’s interference,” he said.