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Free Malaysia Today
5 days ago
- Politics
- Free Malaysia Today
Give cost breakdown of S'wak's ‘White House' project, state govt told
DAP's Violet Yong says Sarawak premier Abang Johari Openg should disclose details such as construction, furnishing, and landscaping costs, and consultancy or design fees for the Kompleks Satria Pertiwi project. (Bernama pic) PETALING JAYA : Opposition leaders in Sarawak have called on the state government to reveal the total cost of the Kompleks Satria Pertiwi project, as well as a details of how much each item costs, in the name of transparency. They said the details should include the costs of specific items, such as construction, furnishing, landscaping and consultancy or design fees. The Satria Pertiwi, the state government's new administrative complex, also dubbed the 'White House of Sarawak', was declared open by Yang Di Pertua Negeri Wan Junaidi Tuanku Jaafar in conjunction with state permier Abang Johari Openg's birthday on Aug 4. Chong Chieng Jen. DAP's Padungan assemblyman and Stampin MP Chong Chieng Jen told FMT the state government should be transparent in its use of public funds. 'The state owes the public a duty to make known how much the building costs. When the government uses public funds, there should be a breakdown of the costs,' he said. Chong noted that the state government currently lumps funding for projects under 'development expenditure', without a breakdown of costs for specific items. His party colleague Violet Yong, who is Pending assemblyman, pointed out that if the state government has nothing to hide, 'there should be no hesitation in making this information public'. Violet Yong. 'Public funds must be spent prudently and in a way that directly benefits the people, not merely to satisfy political vanity,' she told FMT. The administrative complex, located in Petra Jaya, has a resemblance of the residence and workplace of the US president in Washington DC, earning it the moniker 'White House of Sarawak'. Huge imbalance On another note, Yong said there is now a huge gap between spending on lavish projects compared with funding to meet urgent needs of rural communities. 'Time and again, we have seen the GPS government pour huge sums of money into high-profile 'showpiece' projects while ordinary Sarawakians wait for years, if not decades, for basic infrastructure and essential services,' she said. 'This is the hallmark of a government obsessed with grand image-building at the expense of bread-and-butter issues,' she added. Yong also criticised Abang Johari for his defence of the project in February when he said the previous government office Wisma Bapa Malaysia was open to the public, thus posing a significant security risk. 'If that is the justification, I must ask: how insecure was it that security could not simply be tightened there? 'More importantly, if it was indeed so insecure, what about all the other government departments still operating there? Are they not also exposed to the same so-called security risks?' she asked.
Reuters
04-08-2025
- Business
- Reuters
India's tax card upgrade contract awarded to LTIMindtree, government source says
NEW DELHI, Aug 4 (Reuters) - The Indian government's tax card upgrade project, known as PAN 2.0, has been awarded to LTIMindtree ( opens new tab, a government source aware of the matter said on Monday. The project, approved by Prime Minister Narendra Modi's administration in November 2024, is expected to go live in 18 months, the source, who did not want to be named as the information is not yet public, said. LTIMindtree and the income tax department did not immediately respond to Reuters' requests for comment.
Yahoo
19-05-2025
- Business
- Yahoo
India's Protean eGov sinks on ouster from key government project
(Reuters) -Shares of Protean eGov Technologies tumbled 20% on Monday after the company said it was ruled out of bidding for an Indian government project, creating doubt about a service that accounts for nearly half of its revenue. Protean has been managing applications for Permanent Account Numbers, or PAN cards -- used to maintain every taxpayer's record -- since around 2006. It claims roughly 60% market share for the service, which accounts for about half of its revenue. However, Protean said on Sunday that the income tax department has "not considered favourably" the company's bid as a service provider for PAN 2.0, a $168 million project to consolidate multiple platforms and portals, and quicken processing times. Protean's shares slumped a maximum-allowed 20% on Monday, on course for their worst day since listing on the National Stock Exchange in early February this year. The company said it expects no operational impact on its current PAN business of processing and issuing PAN cards. "We have reached out to the tax department to seek further clarity on their stance. As of now, we see limited impact," Managing Director Suresh Sethi said on an investor call. However, Equirus Securities forecast a much bigger hit. "While the impact (this fiscal year) may be muted, we expect a 75%-100% collapse in this revenue stream over the next 2-3 years," Equirus Securities said, downgrading the stock to "sell". "About one-third of the industry's PAN requests currently originate directly from websites of PAN service providers -- volumes that will almost certainly shift to the PAN 2.0 contract winner once it goes live." It was not immediately clear who else bid for the project. ICICI Securities said Protean was considered the leading contender "by a distance" for PAN 2.0 and losing out "creates uncertainty on PAN business outlook over (the) medium term." ($1 = 85.3330 Indian rupees) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
19-05-2025
- Business
- Reuters
India's Protean eGov sinks on ouster from key government project
May 19 (Reuters) - Shares of Protean eGov Technologies ( opens new tab tumbled 20% on Monday after the company said it was ruled out of bidding for an Indian government project, creating doubt about a service that accounts for nearly half of its revenue. Protean has been managing applications for Permanent Account Numbers, or PAN cards -- used to maintain every taxpayer's record -- since around 2006. It claims roughly 60% market share for the service, which accounts for about half of its revenue. However, Protean said on Sunday that the income tax department has "not considered favourably" the company's bid as a service provider for PAN 2.0, a $168 million project to consolidate multiple platforms and portals, and quicken processing times. Protean's shares slumped a maximum-allowed 20% on Monday, on course for their worst day since listing on the National Stock Exchange in early February this year. The company said it expects no operational impact on its current PAN business of processing and issuing PAN cards. "We have reached out to the tax department to seek further clarity on their stance. As of now, we see limited impact," Managing Director Suresh Sethi said on an investor call. However, Equirus Securities forecast a much bigger hit. "While the impact (this fiscal year) may be muted, we expect a 75%-100% collapse in this revenue stream over the next 2-3 years," Equirus Securities said, downgrading the stock to "sell". "About one-third of the industry's PAN requests currently originate directly from websites of PAN service providers -- volumes that will almost certainly shift to the PAN 2.0 contract winner once it goes live." It was not immediately clear who else bid for the project. ICICI Securities said Protean was considered the leading contender "by a distance" for PAN 2.0 and losing out "creates uncertainty on PAN business outlook over (the) medium term." ($1 = 85.3330 Indian rupees)
Yahoo
19-05-2025
- Business
- Yahoo
India's Protean eGov sinks on ouster from key government project
(Reuters) -Shares of Protean eGov Technologies tumbled 20% on Monday after the company said it was ruled out of bidding for an Indian government project, creating doubt about a service that accounts for nearly half of its revenue. Protean has been managing applications for Permanent Account Numbers, or PAN cards -- used to maintain every taxpayer's record -- since around 2006. It claims roughly 60% market share for the service, which accounts for about half of its revenue. However, Protean said on Sunday that the income tax department has "not considered favourably" the company's bid as a service provider for PAN 2.0, a $168 million project to consolidate multiple platforms and portals, and quicken processing times. Protean's shares slumped a maximum-allowed 20% on Monday, on course for their worst day since listing on the National Stock Exchange in early February this year. The company said it expects no operational impact on its current PAN business of processing and issuing PAN cards. "We have reached out to the tax department to seek further clarity on their stance. As of now, we see limited impact," Managing Director Suresh Sethi said on an investor call. However, Equirus Securities forecast a much bigger hit. "While the impact (this fiscal year) may be muted, we expect a 75%-100% collapse in this revenue stream over the next 2-3 years," Equirus Securities said, downgrading the stock to "sell". "About one-third of the industry's PAN requests currently originate directly from websites of PAN service providers -- volumes that will almost certainly shift to the PAN 2.0 contract winner once it goes live." It was not immediately clear who else bid for the project. ICICI Securities said Protean was considered the leading contender "by a distance" for PAN 2.0 and losing out "creates uncertainty on PAN business outlook over (the) medium term." ($1 = 85.3330 Indian rupees)
