Failed bookstore chain leaves suppliers in the lurch

Nabihah Hamid Nabihah Hamid Updated 7 years ago · Published on 28 Dec 2018 7:00AM · 10 Comments

The KB1M store at Institut Terjemahan dan Buku Malaysia in Wangsa Maju, Kuala Lumpur, was the last to shut down in mid-December last year. – The Malaysian Insight file pic, December 28, 2018.

A YEAR after the last Kedai Buku 1Malaysia (KB1M) store was shut down, dozens of small, independent publishers which were the book store chain’s suppliers are still waiting for payment .

Many of these companies, some with unpaid invoices amounting to hundreds of thousands of ringgit, want the new government to pay the debts of KB1M, the brainchild of former prime minister Najib Razak.

“We hope the government can help us find a way out,” said Lejen Press founder Aisamuddin Asri.

The publisher of Awek Chuck Taylor by Nami Cob Nobbler said KB1M owed RM70,500 from 2016.

“Thankfully, we suspected there was a problem (of payment) early on  and stopped supplying books to them in 2016. Otherwise, the debt would have reached hundreds of thousands,” he told The Malaysian Insight.

Reports quoting court documents said KB1M owed some RM3 million to local publishers, among which were Fixi (RM104,930), Magfirah Pustaka (RM62,000) and Media PTS Group (RM260,000).

Najib launched the bookstore in September 2012, with the aim of offering reasonably priced books to encourage more to read. Several KB1M stores were opened in the city.

The outlet at Institut Terjemahan dan Buku Malaysia (ITBM) in Wangsa Maju was the last to shut down in mid-December last year.

“We held discussions with the KB1M representative in March 2016. They came to the Lejen office to ask for more time to make payment. At the time when we had requested for it, they did make some payments.

“But since then, we’ve not heard from them,” said Aisamuddin.

Former prime minister Najib Razak launched the bookstore in September 2012, with the aim of offering reasonably priced books to encourage more to read. – The Malaysian Insight file pic, December 28, 2018.

He said the Malaysian Book Publishers’ Association was in the midst of collecting information from all publishers involved to try and ease the process of seeking payments.

Selut Press founder Aloy Paradoks said KB1M’s debt with the publisher was three years old.

“We send the invoice and it doesn’t get paid. There has only been one actual collection so far. It’s been almost three years and there has been no news,” he said.

Selut Press is owed RM10,000.

Former Dubook Press CEO Muthalib Uthman said KB1M had owed more than RM30,000 since 2016.

“We hope the government will take note of this. If they can repay the debts of 1Malaysia Development Bhd, they can pay us. We really need the money,” he said.

The Malaysian Insight is seeking a response from the finance and education ministers. – December 28, 2018.

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Comments

  • Bloody idiot Najib Razak

    Posted 7 years ago by S Y L · Reply

  • Go and ask Najib rosak

    Posted 7 years ago by Hemanth Kumar Arumugam · Reply

  • Another failed project and wasted money from najis idea.

    Posted 7 years ago by Will Be Humble · Reply

  • Country full of Malay debts. Never end.

    Posted 7 years ago by Jackal Way · Reply

  • Another mess left behind by Najib's administration that new government has to clean up. Should just collect from Najib. He's still parading his cibai face all over town!!!

    Posted 7 years ago by Your Grandpa · Reply

  • Pekan lanun said his regime paid felda folks on time unlike PH government. That where the votes banks were. He just took other people's money and channel the fund to Felda.
    He is a real assh@le!

    Posted 7 years ago by Chee yee ng · Reply

  • Is there no process for companies to force payment of money owed to them without resorting to an expensive court case? Such as a class action by all creditors against the debtor?

    Posted 7 years ago by Malaysia New hope · Reply

  • Everybody is in a fix.. everybody needs money.. the man who lost his job now cant pay his house instalment.. the man who got a contracted job found himself jobless when the contract was cancelled.. So, how?
    I think as unpaid suppliers, you too have to join the queue..

    Posted 7 years ago by TTs Take · Reply

  • Another mess created by Najib and his cronies! Yet he dared to shout that BN was a good paymaster.

    Posted 7 years ago by Jordan Lee · Reply

  • They think this government is a goldmine. If you couldnt collect from Najib then you will just have to write it off. Thats business. Thats the risks businesses take.

    Posted 7 years ago by Lily Cheong · Reply