Dap Man Files Report Over Alleged Asset Fraud By Perak Corp

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Chong Zhemin outside Bukit Aman after lodging the police report against Perak Corp.KUALA LUMPUR: Keranji assemblyman Chong Zhemin has filed a police report against state-owned subsidiary Perak Corp Bhd (Perak Corp) following allegations of fraud involving its assets.
He said Perak Corp did not disclose the actual value of its assets when it filed an originating summons at the Ipoh High Court in July 2020, where it allegedly left out 12 assets.
“It’s obvious that the 12 assets were not included in the scheme of arrangement for creditors. Thus, the declaration of assets by Perak Corp and its subsidiaries before the court was not true and accurate,” said Chong outside Bukit Aman.
The DAP assemblyman said that based on the company’s annual report for 2021, there were 13 assets listed from 1995 until 2017 but only one, a state lease in the district of Muallim, was included in the scheme of arrangement for creditors.

He believed that Perak Corp’s board of directors had broken the law and urged the police to investigate the matter urgently.
In July 2020, Perak Corp filed an originating summons at the Ipoh High Court. The court in May 2021 allowed a scheme of arrangement in favour of creditors with a list of Perak Corp’s assets as well as its subsidiaries.
Chong said the matter had been raised several times in the state assembly, but no satisfactory answer had ever come from the state government.
FMT has reached out to Perak Corp for comment. - FMT

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