GEORGE TOWN – A fuming P. Ramasamy has leapt to the defence of Datuk P. Kuvenaraju, whose appointment and salary as a non-executive director with the Penang Water Supply Corporation (PBAPP) have come under scrutiny.
Taking aim at “misleading” reports, the Penang deputy chief minister, in a Facebook post, said there may be a conspiracy fuelling the need to question Kuvenaraju’s duties and wages, and singled out an article that sought to seek clarification on the matter as “mischievous” and “fictitious”.
At a recent state assembly sitting, reps raised misgivings about Kuvenaraju’s high pay.
“There was no need to discredit a non-executive director” of PBAPP, said Ramasamy.
The Prai assemblyman said comparing between Kuvenaraju and Chief Minister Chow Kon Yeow’s salaries is akin to comparing apples to oranges.
“Chow receives a monthly or meeting allowance of a certain amount for being chairman of PBA,” he said, referring to PBAPP’s controlling shareholder, PBA Holdings Bhd.
For the record, Chow received an annual salary of just RM54,541 as PBA chairman approved last year.
“Kuvenaraju receives a special allowance as per his contract, not a salary, to the effect of RM47,600 plus some allowance.
“It must be noted that Chow receives a monthly salary for being chief minister.
“There should have been an effort to compare Kuvenaraju’s monthly salary with that of the chief minister.”
The comparison made is not only flawed, he said, but goes to the extent of questioning a decision made by PBAPP and PBA.
“Before his appointment as non-executive director, Kuvenaraju was a member of both companies’ boards.
“Prior to that, he managed his own surveying practice, which he had to disengage from after he joined PBA, causing him to suffer a big income loss.”
On why Kuvenaraju was given the post of non-executive director, Ramasamy said it was on the recommendation of independent directors, with a decision made by both the PBA and PBAPP boards to offer a contract position to Kuvenaraju for two years, beginning September 2019.
“PBA believed that it needed someone with considerable experience to review matters such as succession planning and contract management, which were previously discussed, but not sufficiently addressed.”
On Friday, The Vibes reported that Kuvenaraju’s pay package was approved after PBAPP registered a net loss of RM102.43 million for the financial year ended December 31, 2018.
His gross annual income of RM560,400 is also twice as high as that of other PBAPP directors.
Ramasamy said the question of non-adherence to governance principles does not arise.
“PBA, as a whole, has been making profits over the years, although the profits might have dipped in some years. We enjoy a monopoly on water services, and the profits are made from sales to companies.”
Water is subsidised in Penang, making the state’s rate for consumers among the lowest in the country, he said.
“The main reason why I suspect the matter of appointment was raised is because there is a tiny segment in the PBA management who are not happy with the work done by Kuvenaraju.
“Of late, he has been painstakingly digging up matters pertaining to the awarding of projects to certain companies.
“This might have upset some in PBA, hence, the clever use and manipulation of the opposition to discredit the Penang government in general and the appointment of Kuvenaraju in particular.
“As a director on the PBA board and its subsidiary, PBAPP, and chairman of the establishment committee, I will propose at the next meeting that an investigation be carried out as to who in the management used the opposition to discredit the state government.” – The Vibes, October 18, 2020
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