PAC Accepts Medac, Mosti’s Explanations That ‘Flying Car’ Project Not a Priority for Now

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The Parliamentary Public Accounts Committee (PAC) has declared its satisfaction over the Entrepreneur Development and Cooperatives Ministry’s (Medac) decision to focus on developing small and medium enterprises as well as micro-businesses.

Its chairman Wong Kah Woh said PAC was informed of Medac’s decision to shift its priorities from developing a flying car by ministry secretary-general Datuk Suriani Ahmad during a follow-up presentation to the committee on November 11.

“Medac’s presentation to PAC was made in the wake of the committee’s follow-up action report on the development of Air Mobility which was presented in the Dewan Rakyat on November 28,” he said in a statement.

PAC also received clarification from the Science, Technology and Innovation Ministry (Mosti) regarding its report by ministry secretary-general Datuk Siti Hasimah Tapsir.

“The committee is satisfied with both Medac and Mosti’s clarification, in which we were informed that regular monitoring is being conducted by Venture Tech Sdn Bhd (VTSB) on its RM20 million investments, per the report’s findings.

Bernama

“PAC has also determined that VTSB’s investment agreement document specifically made clear that the RM20 million investment cannot be used for the purposes of developing a flying car,” Wong said.

Similarly, he said PAC is also satisfied by the Auditor-General’s Department’s explanation, following its detailed auditing of VTSB’s owner company Malaysian Industry-Government Group for High Technology, in which the RM20 million investment for a flying car did not come up.

“Members of the public interested in reading and analysing PAC’s report on Medac and Mosti’s follow-up for the development of Air Mobility can download it at www.parlimen.gov.my/pac,” Wong said. – MMO