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The report also found that the board neglected to set up a committee responsible for valuing and monitoring its investments in the companies.

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It added that Pempena’s investments in its seven subsidiary companies and 17 associated companies were not presented and discussed with the board prior to approval.“Pempena only informed the board after the investments were made,” it said.

The board in reply said it would report to the Finance or Tourism Ministry to withdraw the Government’s investments from subsidiaries that failed to declare dividends for three consecutive years.

THE Malaysian Tourism Promotion Board has not turned in a single ringgit of profit despite making investments of RM41.9mil since its inception in January 1976.

The Auditor-General’s Report revealed that the ministry’s subsidiary Pembangunan Pelancongan Nasional Sdn Bhd (Pempena) had not done due diligence before making its investments.

John and Bill: Hold an early election to prove you know what you are doing.

Nella giornata internazionale della donna sono ben due le iniziative milanesi sulla womenomics , prendendo spunto dalla presentazione della traduzione italiana di 2 importanti libri internazionali (americano e inglese): Ore 19, Teatro Franco Parenti, via Pier Lombardo 14, Milanopresentazione del libro "WOMENOMICS" di Claire Shipman e Katty Kay Ne discutono: Benedetta Centovalli (editrice), Maria Rita Gismondo (presidente Fondazione Donna a Milano Onlus), Laura Lepetit (editrice), Valeria Palumbo (giornalista), Francesca Panzarin (fondatrice Womenomics Italia), Giovanna Pezzuoli (giornalista), Andrée Ruth Shammah (Teatro Franco Parenti)Seguirà cocktail. Ore 18, Sede del Gruppo 24 ORE, Via Monte Rosa 91, Milanopresentazione del libro "RIVOLUZIONE WOMENOMICS" di A. Mailand Introduce: Gianni Riotta Direttore Il Sole 24 ORE Partecipano: Martina Colombari Fondazione Francesca Rava - NPH Italia; Daniela Del Boca Professore Economia, Università Torino; Andrea Ichino Professore Economia Politica, Università Bologna; Renato Mannheimer Presidente Ispo; Claudia Parzani Partner Linklaters, Associato Valore D; Mariavittoria Rava Fondatrice e Presidente Fondazione Francesca Rava - NPH Italia; Avivah Wittenberg-Cox autrice del libro.

Partecipando all’incontro, sconto del 50% sul biglietto dello spettacolo di Catherine Spaak “Vivien Leigh - The last press conference”, ore 21. Modera: Laura La Posta Caporedattrice Il Sole 24 ORE.

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In reply, the Board said it held a Strategic Planning and Direction workshop from Oct 16 to 18 as per the recommendations of the Auditor-General.

In response to the Auditor-General’s Report, Tourism Minister Datuk Seri Dr Ng Yen Yen said yesterday that the ministry had a special committee looking into the losses incurred by the Malaysian Tourism Promotion Board, She said the ministry was aware of all the issues, and was almost at the end to its investigation into the losses.

This is financial mismanagement to go with the total mismanagement of the country by these so-called experts.

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