Where is our RM15.3 mil, mining company asks Terengganu government

Managing director of Golden Mineral Sdn Bhd R Rajagopal.

PUTRAJAYA: An iron ore mining company has taken the Terengganu authorities to task for saying that a state government subsidiary that was supposed to pay it RM15.3 million has ceased operations.

R Rajagopal, managing director of Golden Mineral Sdn Bhd (GMSB), said a check with the Companies Commission of Malaysia (SSM) showed that Permint Minerals Sdn Bhd (PMSB), a subsidiary of Terengganu State Enterprise Development Corporation (PMINT), was still active as at May 20.

The Court of Appeal had on Sept 13 last year ordered PMSB to pay a consequential loss amount of RM15,342,212.55 to GMSB after the company ceased iron ore mining operations at Padang Air Putih, Mukim Bandi, Kemaman, in 2012.

The Federal Court confirmed the award but until now, no payment has been made to the company, Rajagopal told reporters at the Malaysian Anti-Corruption Commission headquarters here today.

He was at the MACC headquarters to follow up on a report lodged by the company at the MACC office in Terengganu on March 8.

Terengganu Menteri Besar Ahmad Samsuri Mokhtar had reportedly said he would leave the matter to the courts.

He was also reported to have said there was nothing the state could do as PMSB had been wound up, adding that it was a business decision.

Rajagopal said if PMSB had ceased functioning, there would have been a confirmation or declaration made in court or the state government could have furnished a statement by the companies commission.

“PSMB is still operating and active, why are they saying that it has been wound up?

“If it has nothing to do with the state, what about the affidavit that was pledged by PMSB on Jan 2 that it belongs to the state government and has an interest in the income or treasury of the state government?” he asked.

Urging the Terengganu government to resolve the issue, he said investors would lose confidence in the state if such matters persist.