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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
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'
By KAMARUL YUNUS
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
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
"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
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
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
The private sector will be at the same time be allowed to summit
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