Malacca wants to sell off KYM

  • Nation
  • Wednesday, 14 May 2003

LEE YUK PENG at the Malacca State Assembly 

THE Malacca government is prepared to sell off Kolej Yayasan Melaka (KYM) due to the strained relationship with its partner, Dr Hamzaid Yahya, although the college is making money. 

Chief Minister Datuk Seri Mohd Ali Rustam told Betty Chew (DAP – Durian Daun) that Yayasan Melaka, which owned 60% of the shares in the college, was willing to sell off its entire stake to Dr Hamzaid, who owned the remaining shares, at the price of RM51mil. 

“It will be sold with the condition that Dr Hamzaid no longer use Kolej Yayasan Melaka as the name of the college,” he said. 

Mohd Ali claimed that although the college made a profit of half-a-million ringgit in 2001, its account was not transparent. 

Mohd Ali claimed that another reason to sell off KYM was due to the lack of co-operation between Dr Hamzaid and the state government, adding: “It is better to split rather than getting involved in quarrels all the time.” 

Dr Hamzaid, he said, was capable and could manage the college well. 

Dr Hamzaid had earlier offered to sell off his 40% stake to the state government at RM34mil but the state government counter-offered him, offering its 60% equity at RM51mil, Mohd Ali said.  

On another question, Mohd Ali said a total of 76 private religious schools set up in the state had yet to be registered under the state enactment. 

However, 10 of the schools had applied to be registered, he told Datuk Ramli Mohd Said (BN – Masjid Tanah). 

Senator Datuk Hazizah Sultan was re-appointed for a second term starting yesterday. 

Hazizah, whose term came to an end on Dec 20, last year, has been appointed for another three years.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 7
Cxense type: free
User access status: 3

Across The Star Online