KUALA LUMPUR, July 5 — Although his salary package has stirred a controversy, a group of Puncak Niaga Holdings Bhd (PNHB) minority shareholders has come to the defence of its executive chairman Tan Sri Rozali Ismail’s RM33.4 million remuneration package, saying he deserves it.

Puncak Niaga Minority Shareholders Watchdog Group chairman Muhammad Imran Abdullah said it must be understood that Rozali’s remuneration was approved at PNHB’s annual general meeting, which took place on June 26.

“It was tabled there and we approved it,” Imran said yesterday. 

“You must understand, this man is the founder of the company which started 20 years ago. For all his contributions, the shareholders have agreed to the payment.”

Imran, who claims that the group represented over 100 shareholders or 20 per cent of Puncak Niaga shares, also said that he personally felt Rozali deserved it.

However, when asked to comment on Klang MP Charles Santiago’s description of the decision as “unethical and irresponsible”, Imran said the minority shareholders felt PNHB and Syabas had performed well.

“We are pleased with them overall. As shareholders, what we want are just returns and dividends. As long as we get it, we are happy,” he said.

He then declined to further discuss the issue as it was a done deal.

The Malay Mail had yesterday front-paged a report saying that Rozali was paid RM33.4 million for his services last year, including a RM20 million gratuity.

The revelation drew a slew of criticisms against the company, that is the majority shareholders of Syarikat Bekalan Air Selangor Sdn Bhd (Syabas).

Consumer groups have labelled it as “shameless” while a section of the public had slammed the move, saying they were suffering from frequent water cuts.

Syabas issued a statement saying The Malay Mail article was erroneous, mala fide and defamatory.

Its corporate communications and public affairs assistant general manager Priscilla Alfred said the company was referring the article to its solicitors.

At a press conference, Imran criticised Selangor Mentri Besar Tan Sri Abdul Khalid Ibrahim for attempting to use the executive powers of the state government to make an “unacceptable” takeover of Syabas.

“An acceptable offer can only be made on a ‘willing buyer, willing seller’ principle,” he said.

He chided Abdul Khalid for making “baseless accusations” about Puncak Niaga as well as not resolving the standstill in water talks.

“It was unfair for the Selangor government to say the state acquisition of Syabas was because of ‘incompetence on the part of the concessionaires’,” said Imran.