RM500mil missing from Yayasan Selangor, says GM

Newly-minted Yayasan Selangor general manager Ilham Marzuki told the Select Committee on Competency, Accountability and Transparency (Selcat) that half a billion ringgit had gone missing from the state education foundation’s assets under BN rule.

“Our study shows that, from 1991-2008, there were leakages of RM500 million from Yayasan Selangor,” Ilham told the committee at its public hearing today.

“If not, our assets would have been RM800 million.”

At present, he said, the foundation holds RM300 million worth of fixed assets and RM50 million in cash deposits.

Ilham called upon the state and Selcat to assist the foundation in auditing Yayasan Selangor for the period between 1991 and 2008, to detect the source of the leakages.

[More to follow]