Former Pos Malaysia chairman to testify before PAC on Wednesday

Former Pos Malaysia Bhd chairman Tan Sri Adam Kadir will testify before the Public Accounts Committee (PAC) on Wednesday concerning his claims that the company suffered RM546mil losses.

PAC chairman Datuk Seri Mohamed Azmi Khalid said the committee wanted Adam to explain his claims and as such, was unable to arrive at any conclusions on the matter yet.

Azmi was speaking to reporters after chairing a PAC meeting at Parliament building here, Tuesday.

On May 2, Adam, in a newspaper report, alleged that Khazanah Nasional Bhd had not given a true account of the losses suffered by Pos Malaysia.

A proposal to sell a strategic stake owned by Khazanah in Pos Malaysia was aimed at covering up certain weaknesses, Adam, a former president of the Dewan Negara, claimed in the article.

Khazanah, the Government's investment arm, is the main shareholder in Pos Malaysia, having a 32.23% equity in the government-linked company.

Meanwhile, on Sime Darby, Azmi said its management had asked the PAC defer their meeting to August.

The meeting was to discuss the conglomerate's reported cost overruns amounting to RM1.6bil in some of its projects. - Bernama