STATE-OWNED Terengganu Development and Management (TDM) Bhd has failed to submit annual financial reports to the Companies Commission Malaysia (SSM) for several years, Senator Raja Kamarul Bahrin Shah Raja Ahmad said.

TDM Bhd is believed to have failed to submit its financial reports for the years 2017, 2018 and 2019, and this is a violation of the Companies Act, he told a press conference in Parliament today.

The company, which runs plantations and healthcare facilities, also did not submit its financial audit report for 2019, he said, citing information from SSM.

The Amanah Terengganu chairman asked how this could be when the company’s directors took such high salaries and are supposedly professionals.

“What is the need to appoint outsiders in so many government-linked companies with such lucrative salaries if they do not have the expertise.

”It is very sad to see that while many Terengganu natives are unemployed, those appointed as GLC directors are not even locals or people residing in the state,” he said.

Raja Kamarul Bahrin said the Terengganu menteri besar and TDM chairman should be held responsible for the company’s problems.

He urged SSM not to bow to pressure or fear its duty to impose fines on those responsible for TDM’s non-compliance. – September 9, 2020.