Perak MB directs PKNP to reject Majuperak Holdings' proposals

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IPOH (June 25): Perak Menteri Besar Ahmad Faizal Azumu has directed the Perak State Development Corporation to reject all proposals which were made during the annual general meeting of Majuperak Holdings Berhad (MHB), which took place today.

He took cognisance of MHB's intentions to propose a motion to re-appoint three directors as well as to retain non-executive directors.

"At the meeting too, they (MHB) also proposed to approve a payment of RM386,250 director's fees for financial report ending Dec 31, 2017 and approve remunerations to non-executive directors amounting to RM150,000 from June 28 until the next AGM," he said in a statement here tonight.

He said it was not appropriate for MHB's directors to receive huge fees due to the dismal performance in the financial report last year when it recorded a net loss of RM11.01 million in the same annual report.

In fact, the renumeration  for the financial year 2018 should reflect the current challenging situation, he said.