Tony Pua reveals another Companies Act breach

Nigel Aw 2:25PM Oct 1, 2012

Petaling Jaya Utara MP Tony Pua today named another company for breaching the Companies Act 1965 but is off the radar of the Companies Commission of Malaysia (CCM), which is adamantly pursuing human rights group Suaram.

National Aerospace and Defence Industries Sdn Bhd (Nadi), which is a partner in the country' newest budget airline Malindo Airways, has not filed its audited accounts since 2007, Pua told a press conference at the Parliament lobby this morning.

"Nadi failed to file its audited accounts since Dec 31, 2007, and yet the government last month granted its subsidiary a licence to operate an airline in Malaysia, launched by none other than Prime Minister Najib Abdul Razak himself.

"The chairperson of the company is Gen (Rtd) Mohd Hashim Mohd Ali, who is a brother in-law of (former premier) Dr Mahathir Mohamad," Pua said, basing this on a search of the company's financial report at CCM.

Pua said Clause 169(1) of the Companies Act 1965 requires company directors to present the profit and loss accounts at the annual general meeting, within an interval of not more than 15 months.

He added that any director who fails to comply with the regulation is liable to five years’ imprisonment or a fine of RM30,000.

"This is not speculation, like in the case of Suaram. These are facts, so why isn't the CCM taking action?" he asked.

Pua also reiterated his claim that YGP Holdings Sdn Bhd has not filed its audited accounts since Dec 31, 2006.

The directors of YGP Holdings are Rembau MP Khairy Jamaluddin and Kota Belud MP Abdul Rahman Dahlan, while one of the shareholders is Defence Minister Ahmad Zahid Hamidi.

'Motion to deduct minister's pay'

This was on top of the National Feedlot Corporation, which is embroiled in a corruption scandal and has not filed its audited accounts since Dec 31, 2009.

"Why has CCM failed to act against these companies, which are related to top Umno personalities?

"Given CCM's sudden assertiveness in exercising its authority by going on fishing expeditions against entities fighting for the rights of all Malaysians, we demand that CCM takes immediate action against these three companies and take all their directors to court," Pua said.

If  CCM fails to act, Pakatan Rakyat will submit a motion to have RM10 deducted from the salaries of Domestic Trade, Cooperatives and Consumerism Minister Ismail Sabri Yaakob and CCM chief executive officer Mohd Naim Daruwish, he added.