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Malay Mail
41 minutes ago
- Malay Mail
Perak's Lenggong Valley Unesco site boom: Tourists soar, locals thrive, and geopark bid gains ground
LENGGONG, July 13 — Lenggong Valley continues to record rapid growth as a heritage tourism destination, with tourist arrivals soaring by over 280 per cent in just two years. Perak Menteri Besar Datuk Seri Saarani Mohamad said the number of tourists rose from 24,770 in 2022 to 114,182 last year, following continuous efforts to develop the area. 'Tour guides saw their income increase by 237 per cent, while accommodation operators recorded a 145 per cent increase in revenue over the same period. 'This development has had a direct impact on the local economy, especially for rural communities, including traditional villages and the Orang Asli, who are now actively involved in tourism-related activities such as handicrafts, traditional food and homestay programmes,' he said. He said this during a dinner event held in conjunction with the evaluation session of the Aspiring Lenggong Unesco Global Geopark (UGGp) site here yesterday. Saarani said scientific studies conducted have identified several areas with development potential, involving 39 geosites, 11 geoarchaeological sites, eight biosites, and 21 cultural and heritage sites. 'Five of these sites have been recognised for their international geological value, encompassing unique and interrelated elements of geological heritage, biodiversity, culture and archaeology. 'This diversity of resources makes Lenggong Valley not only an important site for research activities but also a competitive international tourism destination,' he said. He also said the state government is actively strengthening Lenggong Valley's international standing through collaborations with various international geopark networks and participation in global conferences, including with Japan, South Korea and Turkey. 'Lenggong Valley is no longer just a tourism destination, it is now a centre for human capital development based on heritage,' he added. Lenggong Valley, designated as a Unesco World Heritage Site since 2012, spans 22 square kilometres (sq km) which is about one per cent of the total area of the Aspiring Lenggong Unesco Global Geopark, which covers 2,248 sq km. The UGGp area covers five subdistricts, Durian Pipit, Temelong, Lenggong, Kenering and Gerik, with a population of around 61,039 people. — Bernama
Free Malaysia Today
2 hours ago
- Free Malaysia Today
Court takes over THHE's winding-up, citing liquidator's bias
The Kuala Lumpur High Court has ordered that THHE Engineering Berhad be wound up, with costs totalling RM150,000 to be paid out of its assets to the three petitioners led by Global Mariner Offshore Services Sdn Bhd. PETALING JAYA : The Kuala Lumpur High Court has, in a landmark decision, converted TH Heavy Engineering Berhad's (THHE) voluntary winding-up into a court-supervised compulsory liquidation, citing serious concerns over how the process was conducted previously. 'This is probably the second time that such an application has been made,' Justice Atan Mustapha Yussof Ahmad said in a written judgment handed down recently. 'The earlier case was decided over a hundred years ago,' he added, citing the Seremban General Agency case from 1923. The judge was setting out his grounds for allowing a petition by Global Mariner Offshore Services Sdn Bhd (GMOS) and two others under Sections 464(1) and (2) of the Companies Act 2016, and for the appointment of private liquidators. GMOS became a creditor of THHE on July 21, 2023, after securing judgment for US$63.42 million in damages following a shareholders' dispute. Together, GMOS and two other petitioners – Boomslang Technology Sdn Bhd and Dynac Sdn Bhd – hold 76.8% of THHE's total debt. 'The breaches of statutory provisions in the voluntary liquidation process, conflicts of interest of the interim liquidators, questionable circumstances surrounding the voluntary liquidation, and the compelling need for independent investigation all point inexorably to the conclusion that compulsory liquidation under court supervision is necessary. 'The evidence reveals concerning aspects of the voluntary liquidation process that call into question its bona fides,' Atan said in his 58-page judgment. This includes conflicts of interest arising from the appointment of two individuals as interim liquidators when the creditors' voluntary liquidation process began on Sept 8, 2023. FMT is withholding the names of the individuals concerned. Atan said there were serious questions about the independence of the two appointees, given their 'long-standing relationship with the THHE Group'. The duo were previously appointed to advise on debt restructuring schemes drawn up in 2017 and 2023. The judge said the interim liquidators had demonstrated a 'lack of objectivity and bias in favour of the directors who appointed them'. He found that they failed to properly investigate a 'suspicious' declaration of solvency for THHE Fabricators Sdn Bhd – a subsidiary of the company – after it 'showed a dramatic change from a RM29.469 million deficit to RM10.525 million surplus within one month'. He also said the interim liquidators had failed to adequately examine inter-company transactions, and had tended to defend actions taken by the company's directors instead of conducting impartial investigations. 'The interim liquidators' conduct throughout the voluntary liquidation process demonstrated a clear intention to maintain control rather than facilitate proper creditor governance,' the judgment read. Atan also questioned their conduct of a meeting convened on Oct 4, 2023, alleging they had 'deprived creditors of their statutory rights to elect a chairman and nominate a liquidator of their choice'. He criticised their subsequent attempt to initiate legal proceedings aimed at convening a fresh meeting 'under their control'. 'Their conduct throughout suggests a deliberate strategy to frustrate creditors' rights and maintain their position, rather than acting in the best interests of the creditor body as a whole,' he said. He pointed to the timing and manner in which the voluntary liquidation had been commenced, saying it 'strongly (suggested) an ulterior purpose'. He described the two scheme applications previously filed in court as 'tactical manoeuvres to delay creditors' enforcement actions', noting that they were submitted shortly after GMOS obtained its judgment. The judge concluded that the voluntary liquidation had been initiated to preempt any attempt by creditors to compulsorily wind up the company. 'The timing and circumstances suggest the companies may have sought to maintain control over the liquidation process by placing it in the hands of their chosen liquidators, rather than risk court-appointed liquidators in compulsory proceedings,' he said. Atan also found the creation of security interests immediately before liquidation to be 'particularly troubling'. 'The timing suggests an attempt to prefer certain creditors and ring-fence assets before liquidation commenced. 'The need for independent investigation is a recognised ground for conversion from voluntary to compulsory liquidation. A court appointed liquidator, as an officer of the court, may better serve the interests of the creditors,' he said. The court ordered that THHE be wound-up, and appointed Lim Tian Huat and Chiang Teng Guan, nominated by the petitioners, as joint and several liquidators of the company. It also ordered that costs totalling RM150,000 be paid to the petitioners out of THHE's assets. THHE's largest shareholder is Urusharta Jamaah Sdn Bhd (UJSB), an asset management company established by the finance ministry in 2010 to manage underperforming Lembaga Tabung Haji investments. Formerly known as Ramunia Holdings Berhad, the company was involved in the fabrication of oil and gas structures, and in construction and management services. In 2017, it was classified as a PN17 company, and was delisted by Bursa Malaysia five years later.
Malay Mail
2 hours ago
- Malay Mail
Govt ready to act on unjustified price hikes after SST revision, says deputy domestic trade minister
KUALA LUMPUR, July 13 — Authorities will step up efforts to monitor the prices of basic necessities, including food at eateries, following the Sales and Service Tax (SST) revision, Deputy Domestic Trade and Cost of Living Minister Datuk Fuziah Salleh said. According to The Star, Fuziah said the ministry is ready to take action against food operators who increase prices unnecessarily due to the SST adjustments. 'We have already launched Ops Kesan 4.0,' she said. 'This is to protect consumers by detecting price movements and any attempts to exploit the SST adjustments. We will continue to monitor them,' she said. She added that the ministry is prepared to receive complaints from the public. 'We hope all parties can play their roles and we will look into all the complaints,' she said. The Domestic Trade and Cost of Living Ministry has begun nationwide enforcement operations under Ops Kesan 4.0 to curb unjustified price increases and profiteering linked to the SST revision, which came into effect on July 1. Minister Datuk Armizan Ali said on July 8 that the enforcement will be guided by four key elements, starting with the scrutiny of goods and services listed under the revised SST scope. He said the second element involves ensuring registered businesses exceeding the SST threshold register with the Customs Department. Other factors include examining pricing margins to determine whether they reflect profiteering in violation of the Price Control and Anti-Profiteering Act 2011. 'Businesses are advised to consider all four aspects before making any price or service fee adjustments,' Armizan said. He also urged businesses to consult the Customs Department and the Finance Ministry for policy and compliance clarification while seeking guidance from the ministry's Enforcement Division for matters involving profiteering indicators.
