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Tuesday, August 21, 2012

Proham wants gov't to investigate Puncak Niaga


Human rights group Proham has called on the government to investigate water company Puncak Niaga following reports that its directors were paid RM17.2 million in a year where the company suffered RM75.2 million in pre-tax losses.
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"Proham calls on the federal government to investigate and act immediately on the gross abuses - if any - as in the case of Puncak Niaga in order to right the wrongs for the immediate benefit of the consumers," said Proham secretary-general Denison Jayasooria (right) and Proham member Ramon Navaratnam in a joint statement today.

Puncak Niaga is the beneficiary of Selangor's water privitisation exercise in 2004 through its subsidiary Syarikat Bekalan Air Selangor (Syabas).

It also called for a review of all utilities companies that were beneficiaries of the privatisation project to ensure that it truly benefited consumers.

In its statement, Proham noted that while the privatisation exercise was intended to promote competition, better efficiency and productivity in its services, the exercise had been plagued in problems at its implementation and delivery levels.

NONECiting a study by economists Jomo KS (left) and Jeff Tan, Proham noted that the privatisation had not significantly improved competition and cost for consumer had increased disproportionately.

It further notes that the exercise lacked transparency and accountability which saw the political influential and well-connected enhancing their private wealth.

"Proham recognises that privatisation can be successful when it fulfils basic human rights and public good and not for private greed.

This is especially so when water must not be regarded as a commodity for profit and money making but as a basic human right.

"In this context Proham calls on the federal government to review all the public utility companies where were privatised and which supply basic needs such as water, electricity, transport, housing to ensure that these privatised companies fulfill the principle objectives set in the Economic Planning Unit's Privatisation Guidelines," it said.

Malaysian Business had placed Puncak Niaga at 16th in its top 50 highest paid directors, citing its annual report which showed one of its director being paid between RM8.35 million and RM8.4 million last year.

The identity of Puncak Niaga's highest paid director was not disclosed in the report. its executive chairperson is Rozali Ismail.

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