The Minister of Finance Inc has appointed Datuk Asri Hamidon as chairman of its wholly owned unit, Suria Strategic Energy Resources Sdn Bhd (SSER).
Asri is currently the treasury deputy secretary general for the Ministry of Finance (MoF) and chairman of 1Malaysia Development Bhd (1MDB). He will now lead SSER, alongside its newly formed executive committee (exco), with daily operations to be managed by accounting firm Grant Thornton Malaysia.
Effective June 25, Kishan Jasani, the partner of Grant Thornton Malaysia will lead SSER’s daily operations.
The newly formed EXCO members of SSER are Datuk Wan Mohd Fadzmi bin Wan Othman (former CEO of Agrobank), Hooi Kok Mun (Senior Partner of Grant Thornton Malaysia), and Faisal@Pisal bin Abdul Ghani (Ministry of Finance).
SSER was set up on May 19, 2016, under the MoF to oversee the Multi-Product Pipeline and Trans-Sabah Gas Pipeline projects worth a combined RM9.41 billion. China Petroleum Pipeline Bureau, a unit under state- owned China National Petroleum Corp, was awarded both projects on Nov 1, 2016.
Only 13% or RM1.22 billion of the works for both projects were completed, despite RM8.3 billion or 88% being paid to contractors from China.
The gas pipelines are currently under review by the government ahead of Finance Minister Lim Guan Eng’s scheduled trip to China later this month to engage in discussions with the relevant parties. — TMR