Sunday March 18, 2012

KHSB files clarification with Bursa over sand reports

PETALING JAYA: Kumpulan Hartanah Selangor Berhad (KHSB) has filed a clarification with Bursa Malaysia on two news reports in The Star about sand mining in Selangor.

It denied that there was a “bitter rivalry” between the company and Kumpulan Semesta Sdn Bhd (KSSB) as reported.

KHSB also denied that any of its officials were in communication with The Star, or any other media, in relation to the matter. Neither was it “forced” to give approval to KSSB to extract sand from the site it owned, KHSB said.

“KHSB totally denies the allegation that KHSB was going to take legal action against KSSB.

“As a matter of fact, the KHSB board, on Feb 21 last year, approved the receipt of royalty for sand extraction based on the state government’s policy of sand mining on GLC’s land at 8% of sales revenue.”

KHSB said it was now seeking advice on the next course of action based on the article in The Star on March 15.

The news report had also quoted sources that KHSB was “forced” to give approval to Kumpulan Semesta to extract sand from the site it owned at a rate of RM4.50 per tonne.

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