RM20mil not for ‘flying car’ project, ministry says despite PAC findings
Friday, 29 Nov 20191:41 PM MYT
image: https://apicms.thestar.com.my/uploads/images/2019/11/29/411084.jpg
A file picture of Entrepreneur Development Minister Datuk Seri Redzuan Mohd Yusof during a private viewing of the so-called "super drone" in Subang on Nov 20, 2019. The experimental vehicle is a joint venture project between local company Eastcap Berhad and a foreign company.
KUALA LUMPUR (Bernama): The Entrepreneur Development Ministry (MED) says that the RM20mil allocated by the Malaysian Industry-Government Group for High Technology (MIGHT) was not for the “flying car” (super drone) project developed by Aerodyne Group.
In a statement issued Thursday (Nov 28) night, the ministry said the funding was to develop innovation, research and development of the new national car project (NNCP), with DreamEDGE Sdn Bhd chosen as its anchor company and MIGHT leading it.
The ministry also said that it has no allocation or authority to approve funding for investment in any drone projects.
"This (super drone) project is a private initiative and fully funded by local companies.
“The project does not involve any allocation from the government and as such, was not brought to the National Development Council or the Cabinet as it does not require government approval, ” said the ministry.
In view of this, there was no need to conduct a financial and intellectual property audit of Aerodyne as it was not a government venture, it added.
“The project does not involve any allocation from the ministry and the ministry will not suffer any losses if the project fails to take off.
“The ministry is aware of the Public Accounts Committee’s (PAC) findings and suggestions with regard to air mobility. The ministry is in the midst of preparing comprehensive feedback on the matter.
“The information provided by the ministry is based on what (information) the ministry has.
“Information on action by the other agencies will also be reviewed by the ministry, ” the statement read.
The PAC, in its report on the super drone project tabled in the Dewan Rakyat earlier Thursday, which was also uploaded on the PAC website Friday (Nov 29), said Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof had made a premature announcement on the project.
The report said PAC also found that MIGHT, through VentureTech Sdn Bhd (VTSB), had approved an investment in Aerodyne to the tune of RM20mil that was channelled on Nov 1.
The PAC also called for the Auditor-General's Department to do an audit of the RM20mil investment. – Bernama
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