Rozali latest recipient of govt concession for UiTM campuses

by **Cals** Fri 20 Jun 2014, 01:45

Business & Markets 2014

Written by Cynthia Blemin of theedgemalaysia.com

Thursday, 19 June 2014 09:12

KUALA LUMPUR: Tan Sri Rozali Ismail, who is executive chairman and major shareholder of Puncak Niaga Holdings Bhd and Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), is said to have clinched a government concession to build, operate and lease University Teknologi Mara’s (UiTM) new Puncak Alam campus in Selangor.

The Puncak Alam campus is one of six new campuses for UiTM. The government has agreed to sign a 23-year concession agreement with six companies to build the campuses.

PKR strategy director Rafizi Ramli said the concession for UiTM’s Puncak Alam campus has been awarded to TRIPLC Ventures Sdn Bhd, a wholly-owned subsidiary of TRIPLC Bhd, and “this was confirmed by the prime minister in his written reply to my question dated April 10”.

Speaking to reporters at the lobby of Parliament House yesterday, Rafizi said: “TRIPLC is a public listed company, the shares are majority owned [43%] by Rozali, the owner of Syabas and Puncak Niaga, his family and individuals close to him.

“This makes Rozali the one in control and with the majority holding in the concession contract to build, operate and lease UiTM’s Puncak Alam campus back to the government.”

On June 9, the government requested for an additional RM634.1 billion to fund the cost of concession payments for six UiTM campuses, as well price increases in contracts following the implementation of the minimum wage.

The Pandan MP as earlier explained that the cost to build all the six campuses was estimated at RM1.8 billion, but the federal government had inked 23-year agreements to pay a yearly rental of RM8.6 billion for the campuses to the concession companies.

In April this year, the Dewan Rakyat was told that the cost for building each campus was between RM280 million and RM315 million.

“Which means the government is expected to pay a total of RM375 million annually to these concessionaires for 23 years, an average sum of RM62.5 million for each campus,” said Rafizi.

Rafizi has over the past few days revealed the names of companies and individuals that have benefited via their political connections.

Meanwhile, Prime Minister Datuk Seri Najib Razak said the government will create a professional accounting centre at UiTM to boost the number of professional bumiputera accountants.

The centre will provide four professional accounting programmes, namely Institute of Chartered Accountants in England and Wales (ICAEW), Association of Chartered Certified Accountants (ACCA), Certified Institute of Management Accountants (ACCA) and Malaysian Institute of Certified Public Accountants (MICPA), he added.

[You must be registered and logged in to see this image.]

Rozali owns 43% of TRIPLC, a public listed company.

[size]

This article first appeared in The Edge Financial Daily, on June 19, 2014.[/size]