Written by: Dato' Sri Ong Tee Keat, 07/07/2009
There have been allegations that Port Klang Authority (PKA) has wrongly reversed its decision to release the repayment amounts due to Kuala Dimensi Sdn. Bhd. (KDSB) and the bondholders.
I am told that the PKA board has agreed to the re-payments for two reasons:
1.There was an appeal from the trustees for the bondholders indicating the consequences of non-payment and possibility of the trustees taking action.