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TJ: IWK Hutang 700 juta
By Kapal Berita

11/10/2000 11:54 am Wed


Bernard Dompok menyatakan Kerajaan menyelamatkan IWK kerana tidak ingin khidmat pembentungan tergendala menyukarkan pengguna.

IWK dijual kpd kerajaan pada kadar RM192.54 juta oleh Public Utilities Bhd (PUB) Jualan ekuiti dimeterai pada 23/6/00 hasil MOU 27/3/00. Kerajaan menyuntik dana RM 925 juta sebagai pinjaman kepada IWK hingga menyebabkan ia menjadi pemegang sahama yang istimewa.

IWK mengambil alih khidmat sistem pembentungan pada 1994 dan sedang dihantui hutang RM700 juta. Ia gagal mengutip hutang berjumlah RM145 juta.

Sebenarnya apa yang terserlah dalam kes IWK ini ialah rakyat tidak berpuas hati dengan khidmat mereka. Lagipun negara kita boleh membina menara tertinggi di dunia, tetapi mengapa rakyat perlu membayar bil pembentungan sedangkan dulunya ia percuma walaupun kita tidak empunya sebarang menara yang amat tingginya?

Nation: Govt will not take over privatized entities'

09 October 2000

THE Government has reiterated that it will not take over the ownership or management of entities that it had privatized, including Indah Water Konsortium (IWK) which was sold to the Minister of Finance Inc (MOF) for RM192.54 million.

Minister in the Prime Minister's Department Tan Sri Bernard Dompok said it is not the general policy of the Government to conduct reverse privatization of such entities.

However, he said the issue of IWK is an exceptional case where the Government had to intervene to ensure public interest is safeguarded and to avoid disruption of the service to the public.

"Although IWK is now owned by the Government, the present management operates the national sewerage company," he told Business Times.

Dompok was asked on the fate of IWK and the other privatized entities which had defaulted and handed back to the Government.

Except for IWK, he said there has yet to be any privatized entities that had been handed over to the Government.

It was reported that the MOF had bought over the debt-ridden IWK for RM192.54 million from Prime Utilities Bhd (PUB).

The sale equity interest in IWK by PUB to the MOF was completed on June 23.The agreement was pursuant to the finalisation of the sale and purchase agreement signed between the MOF and PUB on March 27.

According to earlier reports, the Government became a special shareholder of IWK last year when it pumped in RM925 million in support loans.

IWK, which took over the sewerage treatment services in 1994, had been plagued with debts amounting to RM700 million although the Government had pumped in money to keep the company afloat.

IWK's main problems included uncollected debts which amounted to some RM145 million as well as the servicing of more than 7,000 treatment plants.

To determine the future direction of the sewerage services in the country, Dompok said the Government has embarked a comprehensive study on the overall sewerage services, which will include the operational, technical as well as financial aspects of the services.

In future, he said the Government will continue with the privatization programme as this has saved the Government a lot in terms of expenditure since it introduced the programme in 1983.

For instance, he said the Government had saved RM132.16 billion in terms of capital expenditure and RM7 billion in terms of annual operating expenditure.

"Proceeds earned from the sale of Government's interest amounted to RM23.1 billion," he said.

Since 1983, Dompok said a total of 457 projects had been privatized.

Of this total, he said 338 are existing projects, while the remaining 119 are new projects.

According to the Privatization Master Plan 1991, privatization has been implemented much earlier than 1983, mainly by way of methods not involving the transfer of assets or personnel.

Contracting out services by municipalities and other Government organisations were already commonly practised even prior to the announcement of the privatization policy.

However, these were undertaken for reasons of efficacy of execution of activities rather than to consciously achieve some national objectives.

With regards to the question on corporatised entities that are on the verge of being privatised, Dompok said currently the Government is finalising the terms and conditions of the privatization of Percetakan Nasional Malaysia Bhd.

He said other Government entities, which are being considered for corporatisation include Radio Televisyen Malaysia, Federal Land Development Authority and Rubber Institute for Smallholders Development Authority.

On some of the major projects which are in the process of being privatized, he said these include, the vehicle registration, licensing, record management and drivers' licensing services of the Road Transport Department; and the supply chilled water to government offices in Putrajaya.

Construction of hostels in Universiti Kebangsaan Malaysia and Universiti Malaysia Sabah; development of information technology laboratories and computerisation in the primary and secondary schools; management of Kuah and Kuala Perlis jetties; and management of Kemaman Port.

On the approach to project implementation, according to the Privatization Master Plan, the privatization of a government owned entities may be initiated by the Government or the private sector.

In the case of a Government initiated privatization candidate, it will be offered to the public at large or specific target groups subject to competitive bidding.

The private sector will be at the same time be allowed to summit privatization proposals.

In the initial stage, the private sector should submit a comprehensive conceptual proposal which will enable the Government to determine its privatizability and uniqueness.

Such proposals will be considered on a "first-come-first served" basis, with a view to rewarding innovativeness and ingenuity and encouraging entrepreneurship.