Kantoi!! Chase bank AES Operating Company
PETALING JAYA: While the implementation of the Automated Enforcement System (AES) is faced with various problems and difficulties, banks are pursuing two operators, Beta Strapping Co., Ltd. and Automated Traffic Enforcement System (Ates) Limited.
Both companies are being chased by the banks for failing to make loan repayment schedule cash flow problems due to falling totaling millions of dollars, according to Edge.
According to the contract signed with the Road Transport Department (RTD), the two companies should provide services to JPJ enforcement unit continuously, without interruption.
They are supposed to provide services to the RTD since last September until the end of the five-year contract in which the delivery of equipment will be done.
According to sources, a leading commercial bank, take action freezes the accounts of a company failing to pay back the loan.
Our tubular and Ates was trying to hold talks with the Ministry of Transportation and RTD on future projects, cash flow constraints problem.
Search on the website of the Companies Commission of Malaysia showed that Beta Strapping is incurring losses of RM7.62 million for the financial year ended June 30, 2012.
Total issued share capital of Beta Strapping is RM19 million. Four shareholders of the company consists of Tan Sri Nik Ismail Nik Mohamed, Yap Yap Kim See @ Ai Lin, Rozana Redzua and Adreas Teoh.
Rozana is the largest shareholder and he is the son of a Johor Umno leaders.
Ates while the financial position is unknown because the company just send account until May last year. The company's shareholders are directors and Ates Cheong Chee Chwee Co., Ltd..
Apart from Chee, another director is Lawrence Foong Ates, who was the father-in-law Chee. Chee is the founder of the consulting firm Ethos Consulting, where Omar Mustapha was his partner. Omar has close ties with Prime Minister Datuk Seri Najib Tun Razak.
In terms of the area of operations, Strapping Our service covers Kuala Lumpur, Putrajaya, Selangor, Negeri Sembilan, Melaka, Johor and Terengganu.
Ates while operating area covers the states of Perlis, Kedah, Penang, Perak, Kelantan, Sarawak, Sabah and Labuan. ~ Kl-today
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