Perak Man aka Orang Perak to rise from from Lenggong Cave angry that his ancestral land is corrupt ruled by hooligans.
Perak Corp Bhd (PCB), which holds 60% Perak State Development Corporation’s (PKNP) assets in midst of winding up operations
PCB dragged to court several times after defaulted loans from banks
- PCB borrowed RM520m from banks
- to invest in Movie Animation Park Studios (MAPS)
- additional RM200m borrowed to pay contractors
- All these loans in default
- group’s total assets RM742.273m, total liability RM751.361m
- state govt kept matter secret, hid it from public
- in 2012 PCB had cash of RM200m and assets RM1.2 billion
- including 243 hectares land in Meru Raya, 243 hectares in other areas
- now group cash balance RM27,806 and lost half asset value
PCB has until Oct 23 to settle debt or go into receivership
High Court granted 90 days from July 23 to comprise with creditors
If receivership then MAPS, Hotel Casaurina Meru, Lumut Port, lands will be auctioned
discussions between state and foreign investors on selling Lumut Port
Loans borrowed during BN administration
MB Faizal said PCB is currently under PN17
adapted from OSTB
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