Something ‘fishy’ in Majuikan’s loan

KUALA LUMPUR NST 12/04/2007: Majuikan Sdn Bhd, a subsidiary of Malaysian Fisheries Development Authority (LKIM), has been accused of acting improperly in a transaction involving an offshore loan last year.

The LKIM management had reported to the Anti-Corruption Agency (ACA) on Jan 29 on the alleged loan by Majuikan, whose chairman is Adam Abdul Hamid. Among others, the report questioned Majuikan’s decision to become a loan guarantor for a fisheries product company without the knowledge of the LKIM board of directors.

LKIM director-general Datuk Annas Khatib Jaafar, who confirmed the report, said LKIM only knew about the matter following an internal audit last September and after receiving a tip-of from the National Fishermen’s Association (Nekmat). "LKIM has no knowledge of the matter and never granted permission for Majuikan to be a guarantor."The board discussed the matter before lodging a report with ACA," he said here yesterday.

Annas, who would retire on April 23, refused further comment, while Adam could not be contacted for comments. On Tuesday, Adam was reported to have made a report to ACA last February concerning the awarding of a contract to build the RM55 million complex in Kuala Kedah. In the report, Adam claimed that the contract was awarded directly to a company even though the project did not require specialised expertise. Annas retorted that Adam’s accusation was baseless and malicious.

In Alor Star, Menteri Besar Datuk Seri Mahdzir Khalid said he was leaving it to the ACA to investigate whether the Langkawi Development Authority (Lada) breached any regulations in the approval and implementation of projects on the island. "I am aware of the investigations.
"Let the ACA do its work."

He was asked to comment on yesterday’s New Straits Times report that the agency is investigating Lada over claims that certain projects were carried out without government approval.