LUMUT: Greed, corruption and mismanagement caused the failure of PSC-Naval Dockyard Sdn Bhd to build six offshore patrol vessels (OPV) for the Royal Malaysian Navy (RMN) under a RM5.4bil contract.
According to the Public Accounts Committee (PAC), the Government needed to pump in at least RM80mil to pay the local vendors, suppliers and contractors and another RM120mil to salvage the first two vessels, which were nearing completion after seven years.
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