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PKA meeting on release of PKFZ report

KUALA LUMPUR, 13 May 2009: The Port Klang Authority (PKA) will hold an emergency board meeting at 10am tomorrow to approve the terms and conditions for the release of the audited report prepared by accounting firm, PriceWaterhouseCoopers (PwC).

PKA chairperson, Datuk Lee Hwa Beng, confirmed that the meeting would be held at the PKA building in Klang.

He, however, refused to elaborate.

PKA has missed the deadline set by Transport Minister Datuk Seri Ong Tee Keat last week to release the highly-anticipated report on the Port Klang Free Zone (PKFZ).

Ong had given PKA until 6 May to release the report.

However, PKA, in a statement released after that, had said the PKFZ audit report has been held back due to technical issues as it could only be released with the consent of its auditor, PwC.

PwC had made it clear that the said report was confidential to PKA and must not be reproduced or distributed, “in whole or in part, to any other party in any way without prior consent of PricewaterhouseCoopers Advisory Services Sdn Bhd”.

Lee said he had earlier written to PwC on 30 April to seek its consent to publicly release the report following the instructions of transport minister to release it within seven days.

PwC replied on 4 May that consent would be given subject to certain terms and conditions and an emergency board meeting was called to seek the approval on the terms and conditions for the release of the report.

The 405-hectare PKFZ transhipment hub, which has warehouses, office blocks and a four-star hotel, has been dogged by controversy after it was revealed that its original development cost had ballooned from less than RM2.5 billion to up to RM4.6 billion. — Bernama

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