An Umno man is set to make RM137 million in profit following the increase of 19% in MyEG Services Bhd's share price after Putrajaya decided to outsource the renewal of the foreign workers' permits (PLKS) to the private firm, PKR said today.
Semambu assemblyman Lee Chean Chung said MyEG's share price had closed yesterday at RM2.50, a 19% increase from RM2.10 recorded on January 2.
"Based on the latest announcement, Datuk Raja Munir Shah, a major shareholder who is also former Penang Umno information chief and Tanjung Umno deputy division chief, owns 374,135,796 units of shares or 31.1% of the company (MyEG)," he said in a statement today.
"The 19% increase in MyEG share prices in the last few days has given Raja Munir an RM137 million profit on paper."
Lee along with Sungai Petani MP Datuk Johari Abdul had previously raised concerns about Putrajaya's decision to outsource the renewal of the PLKS to MyEG as it would threaten the country's security and sovereignty because of the biometric data involved.
This is not the first time Pakatan Rakyat leaders have highlighted the RM95 million contract to MyEG.
Besides having received the PLKS tender, MyEG was also reported to be the consortium in the collection of the Goods and Services Tax (GST).
Pokok Sena MP Datuk Mahfuz Omar in April disputed MyEG's role as he feared that it would not channel all funds collected to Putrajaya.
Johari, who had demanded an explanation for the awarding of the contract, had earlier this week given Home Minister Datuk Seri Ahmad Zahid Hamidi 24 hours to explain the issue.
"If Zahid refuses to give an explanation to the public, we will take this issue to the Malaysian Competition Commission (MyCC)," he said on Tuesday.
Lee, who is also PKR Youth information chief, said today that while Zahid has remained silent over the matter, the people were still waiting for his explanation.
He also noted that the increase in MyEG share price has given the company a market capitalisation of RM463 million.
"The market price in the bourse has put MYEG profits at between RM400 million and RM500 million. What is sad is that the profits are from the burden and sufferings of the rakyat and employers in general," he said.
He also revealed that along with Datin Paduka Dr Tan Yee Kew, he had made a report over MyEG's monopoly on the PLKS with MyCC.
"It is clear that the monopoly contract has given an extraordinary amount of profits to MyEG and their cronies. This practice of monopoly has also affected the interests of the people and the country," he said.
"In the report, we have named Zahid Hamidi as someone who can assist in the MyCC investigations. I urge him to give the commission his full cooperation."
- TMI
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