KUALA LUMPUR: Suspicious real estate deals and high-risk investments were some of the issues identified by the Public Accounts Committee in its report on Human Resources Development Corporation .
“The agreement was a sales and purchase agreement, but the contents of the agreement was a lease to purchase agreement,” said the PAC in its report released yesterday. Also under scrutiny was the purchase of Blok A, Sutera Avenue, in Kota Kinabalu for RM16mil, in which the purchase was not tabled in HRD Corp’s board meeting.
“Besides that, HRD Corp’s investments in the ‘put and call’ option is considered high risk,” it added.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: