The much-awaited Port Klang Free Zone audit report stated that “significant project costs, weak governance and weak management” have severely undermined the viability of the project. It is imperative that PKA takes immediate actions to restructure the Ministry of Finance soft loan of RM4.632 billion to avoid potential default in 2012, the report further stated.
The Government, the report stated, would need to make a concerted effort to turn the PKFZ into a viable venture.
In the report’s executive summary’s main conclusion, the new cost of the zone had inflated from the original RM1.957 billion to RM4.6 billion in 2007 ...... Read more on New Straits Times
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