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Wednesday, April 23, 2014

Bank-rejected firm got RM150 million from Putrajaya, not RM100 million, says PKR

PKR today revealed that NSE Resources Corporation (NSERC) Sdn Bhd received an additional grant of RM50 million from Putrajaya, besides an earlier cash injection of RM100 million.
Party strategy director Rafizi Ramli said the RM50 million grant was awarded to NSERC by the Ministry of Energy, Green Technology and Water.
"This shows that a private company like NSERC managed to obtain two separate grants from different ministries to carry out its commercial activities," he said today.
"In fact, the company in its application letter said that its costs were RM130 million, but the RM150 million surpasses that figure," Rafizi (pic, top left) added.
Rafizi yesterday questioned how Putrajaya awarded a RM100 million research and development grant to the company, which banks had refused to finance.
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