Ministry of Finance Terminates Prasarana CEO

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Putrajaya has terminated the contract of Prasarana Malaysia chief executive officer (CEO) Masnizam Hisham, eight months after she was appointed to the post.

Masnizam had been informed by the Ministry of Finance (MOF) that her appointment was terminated with immediate effect, a source told news portal FMT.

She had been with Prasarana for more than a decade before she was appointed as CEO in January.

Her last day at work is on Monday.

In a farewell message to staff of the public transportation company, she said she had taken over at a time when costs were spiralling in several projects undertaken by Prasarana, including the LRT3 project linking Petaling Jaya and Klang.

“If we had been firm in managing costs, we would not be facing the acute financial problems as we do today,” she said.

It is understood that Masnizam’s removal comes as resistance grows within Prasarana over a Ministry of Finance (MOF) decision to retain MRCB George Kent Sdn Bhd (MRCB-GK) as the main contractor for the LRT3 project.

Reportedly, board members feel the LRT3 project could save billions if MRCB-GK is removed as the project delivery partner (PDP).