Wednesday, December 17, 2008

State-owned companies with RM80m in losses - Star

Dec 17, 2008 By R.S.N. MURALI

KUALA TERENGGANU: Eight state government-owned companies had incurred accumulated losses amounting a whopping RM80mil from 2005 up to Wednesday, the state legislative assembly was told.

Mentri Besar Datuk Ahmad Said identified them as Terengganu Islam Publication Foundation, Permint Sutera Semai Sdn Bhd, Golden Pharos Sdn Bhd, Terengganu Islamic Commerce company, among others.

The state will try to resuscitate these companies that could be saved, but the others would be asked to cease operations, he said in his reply to Datuk Seri Abdul Hadi Awang (PAS-Rhu Rendang) at the Terengganu state assembly Wednesday.

Abdul Hadi had asked about the number of state-government companies facing heavy financial losses.

Ahmad Said said among the measures that the state government would take to save these companies were appointing new management teams to boost productivity and come out with innovative ideas.

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