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Thursday, February 28, 2013

'Corruption in Terengganu’s logging activities'


'Corruption in Terengganu’s logging activities'
There is a systematic modus operandi to enrich proxies by trading logging concessions to logging companies in Terengganu.
Revealing this today, Batu Buruk state assemblyman Syed Azman Syed Ahmad Nawawi claimed that the operation had evolved around logging companies buying shares at above market price from dormant companies before being rewarded with logging concession.
“The money from the transaction is channelled to certain influential individuals in awarding logging concession,” Syed Azman told a press conference held at the PKR headquarters today.
Citing an example, PKR strategic director Rafizi Ramli said on December 28, 2011, six months prior to approval for logging activity in Hulu Setiu Forest Reserve, a sawmill company had paid RM2.5 million to purchase a RM2 company owned by proxies.
The logging project was approved by state Forest Revenue Collection Board, according to Syed, during a meeting in July last year believed to have been chaired by Terengannu Menteri Besar Ahmad Said.
“We have clear evidence that the agreement was tied to the logging concession. These evidences will be revealed in the next two weeks ahead of the 13th general election while waiting for the Menteri Besar’s response,” he added, and called on the Malaysian Anti-Corruption Commission to investigate.
-Harakahdaily

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