Frankly Speaking: What happened to the RM20 mil?

This article first appeared in The Edge Malaysia Weekly, on December 2, 2019 - December 08, 2019.
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Late last week, the Ministry of Entrepreneur Development said an audit on Aerodyne Ventures Sdn Bhd was not necessary as the flying car project is not under the government.

This was in response to questions raised by parliament’s Public Accounts Committee (PAC).

“The project is led by the private sector and is fully funded by Aerodyne Ventures,” the ministry said, explaining that it did

not get any allocation from the government.

While this may be true and there is no government investment or grant, the ministry, for the sake of transparency, should explain what happened to the RM20 million that came from a public-private partnership — the Malaysian Industry-Government Group for High Technology (MIGHT).

The PAC report listed seven concerns about the project, which involved a RM20 million investment from MIGHT in Aerodyne Ventures.

The report also noted that the ministry  had promoted the project as if it were a national project when it was a private initiative.

The ministry should take a step forward and clear the air on its involvement in the flying car project.

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