BY DESMOND DAVIDSON
The report stated that CMS has major projects in the Samalaju Industrial Park (SIP) in Bintulu – the northern industial node of Score - through its wholly owned subsidiary Samalaju Industries Sdn Bhd, which owns 65 acres of industrial land.
The company, the report stated, also holds 51% stake in Samalaju Property Development Sdn Bhd, which is building the Samalaju township, comprising worker camps, a hotel, light industrial areas and other services on an area of 2,334acres; and a 20% stake in OMMaterials (Sarawak) Sdn Bhd which is developing a ferro silicon and manganese alloy smelter in SIP.
It stated that CMS expects further profits from the project from 2016.
BMF said it would ask potential Score investors, meeting tomorrow in Kuching during the “International Energy Week 2015”, not to invest in Score as long as CMS and other Taib family endeavours are among its main beneficiaries.
It said since the takeovers were questionable and there were corrupt practices in the awards of state contracts, the Sarawak government must review all current and previous contracts awarded to CMS in an “open, transparent and publicly accountable manner” and suspend contracts “as long as the group is majority owned by Taib Mahmud’s family”.
BMF is also asking Bursa Malaysia to suspend the trading of CMS shares until further notice and check if CMS fulfils legal compliance and transactions with related parties.
- See more at: http://www.themalaysianinsider.com/malaysia/article/swiss-group-pushing-for-royal-probe-into-sarawak-company-linked-to-taib#sthash.6CR1Lg8k.dpuf