Archive for June 29th, 2010

PKFZ: ‘Gov’t will pay RM700mil to bondholders’

By Christine Chan | Malaysiakini

Deputy Transport Minister Abdul Rahim Bakri has given an assurance that the government will pay what is due to the Port Klang Free Zone (PKFZ) bondholders.

“We have a commitment to the bondholders, therefore we have to fulfill it,” he told the House today, when winding up matters relating to the ministry in the 10th Malaysia Plan.

He was replying Lim Kit Siang (DAP-Ipoh Timor) who had asked whether Port Klang Authority (PKA) would make any payments to PKFZ turnkey contractor Kuala Dimensi Sdn Bhd (KDSB), given the legal dispute between them.

PKA is due to pay RM723 million to the bondholders tomorrow, akthough it has taken KDSB to court for alleged overcharging.

The Internal Revenue Board (IRB), Lim noted further, has also asked PKA to pay RM328 million owed by KDSB in alleged backdated taxes.
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