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    31 December 2011| last updated at 10:15PM

    Khazanah told to monitor Iskandar closely



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    JOHOR BAHARU -- The Iskandar Malaysia Chamber of Commerce and Industry (DPPIM) has asked Khazanah Nasional Berhad to closely monitor the activities of its subsidiary, Iskandar Investment Berhad (IIB).

    Its president, Mohd Salikon Sarpin said the alleged fraud, abuse of power and corruption involving several IIB executives was shocking.

    "The alleged misconduct by a handful of IIB executives could be likened to a Malay proverb, 'harapkan pagar, pagar makan padi' (a wolf in sheep's clothing)," he said, adding that DPPIM lauded the Malaysian Anti-Corruption Commission's (MACC) investigations into the misconduct.

    He said DPPIM prayed that IIB and Iskandar Regional Development Authority would succeed in their strives to develop Iskandar Malaysia in a transparent, efficient and productive manner.

    "We hope the impact of the economic spill over from Iskandar Malaysia will benefit local community," said Mohd Salikon in a statement today.

    The MACC sprung into action after a series of measures initiated by the Board of IIB as early as mid-2010, which led to a police report lodged by the board in April. - Bernama

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