PETALING JAYA: Perak Corporation Bhd has refuted accusations of fraud and failure to disclose land assets made by Paramount Grace Sdn Bhd director Paramjit Singh Gurbachan Singh.
On Aug 19, Paramjit had lodged a fraud complaint regarding Perak Corp’s land assets. The company had claimed to own the land assets under its own creditors’ scheme of arrangement in an announcement dated December 2020 to Bursa. Under the agreement, Perak Corp had sold a 110-acre leasehold agricultural land in Kampar for a cash sum of RM5.5 million to Kim Poh Sitt Tat Feedmill.
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