Written by Mohd.Ariff Sabri
See how people in positions abused their power? The PM, defence Minister, the management of LTAT. A division of LTAT, Boustead Holdings answerable to the Defence Minister, buys 80% of Astacanggih Sdn Bhd for RM30 million.
What does Astacanggih have? It has no property. It has no track record. It has an outstanding loan with Kuwait Finance House. That is a liability. It has an unsettled dispute over rights on a land of 200 acres that on paper, is still owned by Awan Megah Sdn Bhd.
So why buy Astacanggih? Where is the value? Why not ignore Astacanggih and concentrate on Awan Megah the company that has value? It has a contract to build a RM100 million Defence Research Center and legal rights over an estate of 223 acres in Kelang. Who the hell in LTAT recommended the purchase of Astacanggih?