No transparency in Sukom 98 winding up

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Recently, we got to know from the news report this week announcing that Sukan Komanwel 98 (Sukom 98) Berhad has been shut down for good.

What was surprising was the winding up of Sukom 98 Bhd was indeed being carried out in such a hurry. First of all, why in a hurry to shut it down? It took nearly about fourteen years for the company and its accountants to wind up the company after the event in 1998. What took it so long to do it? And now they are doing it in just one glimpse.

Didn't they realize that Sukom 98 Bhd was established as a business entity under the category of public limited company by shares which was fully funded by the government's treasury. Since it is a public limited company funded by the government, there should be transparency and accountability on to its accounting transaction, reports, and its activities from 1998 right up to the date of the company's winding up.

Come on, the formation of Sukom 98 involved a large proportion of public funds being used, as well as contributions from many sponsors. With this, the people and the sponsors are also stakeholders to this process and therefore have their rights to know about what has been carried out during the company's tenure.

What about the directors? Why aren't they being called and scrutinized for explanations? Are the transactions in this company really perfect and "clean"? Are the directors really perfect too?

Since the winding up is being held in a particular close door, we wouldn't know if their accounts and all its transactions are being properly audited or otherwise? The people should know if this Sukom 98 Bhd is yet another loss making government linked company (GLC) being wound up in order to cover-up something in it.

Our question now is, whether Sukom 98 Bhd was a bankrupt entity prior to its foreclosure?

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