Saturday, October 23, 2004

RM80 Million Fine For MATRADE Contractors

IPOH, Oct 22 (NST):The contractors who failed to complete the Matrade building in Jalan Duta have been slapped with a RM80 million fine. And the figure could rise by RM40,000 a day for as long as the work in progress sign hangs outside the building.But whether Perangsang International Sdn Bhd will end up with a deep hole in the pocket remains unclear. The company has appealed to the Finance Ministry to waive the fine.

Works Minister Datuk Seri S. Samy Vellu believes that there should not be any leniency."They are responsible. We have faced many problems because of them," he said after visiting the site where a mudslide along the North-South Expressway occurred last week. When told that Perangsang International was linked to the Selangor State Government, he said: "We do not care if they are linked to somebody. In fact, those who are linked to a State should be more responsible." Perhaps complicating any attempt to get back any compensation is the fact that the company linked to the Selangor State Government has been sold to a RM2 company. The building originally cost RM167 million and was to have been completed in 1997.- P. Chandra Sagaran (NST)


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