GEORGE TOWN, October 17 DAP secretary-general Lim Guan Eng currently sought Putrajaya's explanation for Perwaja Terengganu's RM1.6 billion debt write-off since which a loss-making steelmaker is a public listed company. The Auditor-General's Report 2011 had suggested a write-off when detailing loans due to Putrajaya by companies and state governments.
"Perwaja Terengganu is a public listed association so it should be able to compensate up a debts," Lim (picture), who is both Penang arch apportion and Bagan MP, told reporters here today.
He pronounced a federal government's move to write off a debt is bad as it will encourage alternative companies to stop paying up their debts.
"This will tell others which if we compensate up your debts, we do not get anything though we have everything to benefit when we default in your payments as your debts will get created off," Lim said.
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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