KUALA LUMPUR, Feb 15 — Politicians want details of the “out-of-court settlement” between national asset management firm Pengurusan Danaharta Bhd (Danaharta) and Tan Sri Tajudin Ramli made public.
They said the public had a right to know how much of public funds were recovered in the settlement which was made confidential by the Court of Appeal yesterday.
Barisan Nasional (BN) and Pakatan Rakyat (PR) federal lawmakers told The Malaysian Insider that the company set up to handle toxic assets during the 1997 Asian financial crisis must reveal if it managed to recover a substantial amount of the RM589 million owed by Tajudin.
“The public has a right to know as it involved a state-owned company, whether or not it is Tajudin or anyone else. We should know how much was recovered, any interest rate to show how well Danaharta did,” Deputy Education Minister Datuk Wee Ka Siong said.
The company’s page on the Bank Negara website says it has dealt with 2,902 non-performing loans (NPL) worth over RM50 billion and recovered 58 per cent of the amount as of 2005, surpassing “the typical 20 – 50 per cent range experienced by similar agencies in Asia.”
“Without transparency, this is like a personal bailout fund for certain individuals. The public is justified in wanting to know if it was a bailout or a settlement which was good business,” said Selangor PAS deputy chief Khalid Samad, who is also Shah Alam MP.
Danaharta and Tajudin ended their drawn out legal battle when they settled out of court yesterday after Putrajaya had directed in August all GLCs to drop civil suits against the former chairman of the national carrier and protégé of Tun Daim Zainuddin.
But the terms of the settlement remain confidential between the two parties despite a High Court decision in December 2009 for Tajudin to pay Danaharta RM589.14 million with two per cent interest per annum backdated to January 1, 2006.
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Reveal details of Danaharta-Tajudin settlement, say BN and PR MPs
February 15, 2012 – MI
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