C4 calls for RCI into GLC which was RM29b in debt

The Centre to Combat Corruption and Cronyism (C4) today called for a Royal Commission of Inquiry (RCI) into a little-known Finance Ministry-owned company, Pembinaan PFI Sdn Bhd, which reportedly had a debt level of RM29.68 billion.

Pembinaan PFI was set up on Sept 28, 2006, as a special purpose vehicle to finance the development projects of the Ninth Malaysia Plan.

It was reported back in 2020 that Pembinaan PFI had a debt level of RM29.68 billion as of June 30 that year.

C4, which launched a report today titled “PFI: The Search for Accountability”...