Mosti Grant: Project Cost was RM130 Million but Received RM150 Million

KUALA LUMPUR, 23 Apr: After given the grant to fund Research and Development (R&D) worth RM100 million from the Ministry of Science, Technology and Innovation (Mosti), NSE Resources Corporation Sdn Bhd (NSERC) was also given another fund worth RM50 million.

“This means the NSERC managed to receive an allocation of public funds amounting to RM150 million from two different ministries to undertake its commercial projects.


“In fact, the RM150 million is more than the cost of their projects, which was informed by Mosti which amounted to RM130 million,” revealed the PKR Strategy Director, Rafizi Ramli in a press conference today.

In a copy of the letter from NSERC to the State Economic Planning Unit (UPEN) of the Terengganu Government, dated 27 January 2014, it stated that the funds amounting to RM50 million is being reviewed for the approval of distribution period and the foreseeable future by HSBC Amanah.

“The RM150 million is a very large amount and should not be allowed to be allocated to a commercial project by a privately-owned company like this,” he told reporters.

The latest fund is under the Green Technology Financing Scheme by the Ministry of Energy, Green Technology and Water (KETTHA).

The Member of Parliament for Pandan further explained that he was contacted via SMS by an individual claiming to be Datuk Seri Najib Tun Razak’s officer to discuss and confirm the information disclosed.

He said that this approval should be stopped immediately until investigations are completed.

In addition, he proposed for a panel of independent experts to be appointed to evaluate the content of the project and a special panel from the Auditor-General’s Department to investigate the decision to approve the fund.

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