LTAT takeover of AES concessionaires an indirect bailout, says PAC

The public authority’s order in 2014 for Lembaga Tabung Angkatan Tentera (LTAT) to assume control more than two concession organizations for the Automated Enforcement System (AES) project was a roundabout bailout by the public authority.

Public Accounts Committee administrator Wong Kah Woh said this was among the ends made by PAC in its procedures in regards to the AES project under the vehicle service, Bernama detailed.

One more end made by PAC was that the execution of the AES through reevaluating was exceptionally unseemly in any case as it ought to have been exclusively directed by the Road Transport Department (JPJ).

In an assertion on PAC’s procedures, what began on Nov 16, 2020, to investigate the AES project, Wong said the takeover cost for the two concession organizations – Ates Sdn Bhd and Beta Tegap Sdn Bhd – had been swelled.

“The takeover cost by LTAT, adding up to RM555 million, was exaggerated and extravagant. The worth didn’t follow the consequences of due determination did by KPMG (review organization), where the greatest worth (of the concessionaires) was recorded as just RM251 million,” he said in an assertion today.

PAC additionally inferred that the provisions of the agreement, particularly identified with the assistance charge to be paid to the concessionaires, were not for, and negative to, the public authority, while the all out pay paid by the public authority to LTAT in 2019 was RM668.9 million.

All things considered, PAC suggested that the public authority guarantee that every one of the terms in any concession understanding are not impeding to them, Bernama announced.

Wong said the Malaysian Anti-Corruption Commission (MACC) expected to audit and examine the issues brought up in the Governance, Procurement and Finance Investigation Committee Investigation Report and the PAC report, to check whether there are people engaged with payoff in the securing system of the AES by LTAT.

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