Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Wednesday, November 3, 2010

Cyberview will take heed of advice in report

PETALING JAYA: Cyberview Sdn Bhd, the landowner of Cyberjaya, acknowledges the recommendations in the Auditor General’s Audit Report 2009 for tighter management and coordination of efforts in developing Cyberjaya.

The company was responding to the recent report which highlighted some weaknesses in Cyberview in handling issues related to the development of Cyberjaya.

Managing director Hafidz Hashim said via e-mail that scheduled reporting and tighter monitoring measures as recommended by the report were in the process of being put into place as Cyberview’s role expanded from that of a landowner to the entity spearheading and masterminding the development of Cyberjaya.

“With the rapid changes taking place in the cybercity, the role as development mastermind brings challenges and Cyberview’s role is continuously evolving with the growth of Cyberjaya and we constantly strive to improve processes for the betterment of the cybercity,” he told StarBiz.

The audit report for the company was done between July and November 2009 and highlighted some weaknesses such as management of the land, records on land status that were not properly maintained, dissatisfaction with the transport service and some financial management.

However, it said, Cyberview’s financial performance from 2006 to 2008 was satisfactory as the company was profitable all those years despite some decline in profit in 2008.

It said the objective to form Cyberview was to ensure the development of Cyberjaya was in tandem with the Government’s aspiration to create an information technology city (cybercity).

“The complete development of a cybercity could not happen if Cyberview could not monitor the development of the city efficiently,” it said.

The report said the Finance Ministry, the main shareholder in Cyberview, needed to ensure the company was focused in monitoring Cyberjaya’s development.

It also suggested that Cyberview fully monitor the buildings’ rent collection and take action on those who failed to pay their outstanding rent.

By The Star

No comments: