Chua added that his check showed the Talam annual report disclosed that on
March 12, 2010, and April 9, 2010, the Selangor government purchased assets
worth RM676mil from the company.
“Before the deal with the Pakatan Selangor government, Talam was still under
PN17 with lots of debts.
“When a company is under that category, that means financially it is not in
good shape and can be de-listed
which will be detrimental to the shareholders.
“The shares of Talam cannot be traded in the stock exchange before the deal
with the Selangor government.
“It is shocking that the state started out trying to recover a RM392mil debt
and ended up with questionable deals amounting to more than RM1bil,” Chua said.
“The Selangor government should explain the acquisition of RM676mil worth of
assets and the use of the RM392mil grant.”
He also noted that RM266mil was paid to Talam's bankers, according to the
company's financial report
