The RM17.2 million paid out by Puncak Niaga Holdings Bhd (PNHB) as directors fees is "madness", especially when it is a loss-making association with services which have been not up to mark, a Coalition Against Water Privatisation (CAWP) says.
The tip management of a company, which owns state H2O distributor Syarikat Bekalan Air Selangor (Syabas), enjoys benefits no matter how most waste a association suffers, CAWP coordinator Charles Santiago said.
"The association is patently bleeding, but a tip care is being paid more," Santiago told Malaysiakini, adding which this was finished at a responsibility of a company's employees as well as a people of Selangor.
He was commenting upon a Top 50 top paid directors list released upon Wednesday by Malaysian Business, which places Puncak Niaga in a 16th mark for profitable a single senior manager between RM8.35 million as well as RM8.4 million final year.
The list was gathered based upon a annual reports of a companies concerned. The temperament of Puncak Niaga's top paid senior manager was not disclosed in a report.
It was additionally disclosed which a sum of RM17.2 million was paid as directors' fees to Puncak Niaga's senior manager directors during a year when a association reported a pre-tax detriment of RM75.2 million.
In fact, a annual inform showed which a association has been in a red given 2007 when it's pre-tax detriment was RM435.7 million but given afterwards a waste have been gradually reduced.
Santiago, who is additionally Klang MP, pronounced it was unsuitable for a association to be profitable large fees to a house members as it was radically a public utility company.
Puncak Niaga owns Syabas, which is a state's sole H2O supply distributor.
Critics explain which a association was award! ed a hig hly lopsided benefaction agreement when a BN was in power in Selangor, with created promises of steep as well as steady H2O price tag hikes.
The stream Pakatan Rakyat administration has criticised a performance, quite in reducing non-revenue water.
'Span must act'
Santiago pronounced a onus was right away upon a National Water Services Commission (Span) to examination a benefaction agreement as well as safeguard which Puncak Niaga does not profiteer at a people's expense.
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