KUALA LUMPUR, Aug 31 ― The Kelantan Football Association (Kafa) expects to settle its debts of RM6.2 million by the middle of next year.
The assurance was given by its new president, Wan Abdul Rahim Wan Abdullah, who replaced Bibi Ramjani Ilias Khan, after signing a memorandum of agreement with MQ Technology Berhad today.
Wan Abdul Rahim said that through the agreement, Kafa would make payments in stages to “smoothen” the club's licencing agreement process which had to be completed by October 31.
“The first payment will be made on September 15. We do not have to pay everything at once and we will make the next payment on a monthly basis. Most players and coaches agree with the payment process,” he said.
He said the Inland Revenue Board (IRB) had also agreed to allow Kafa to make an initial payment of RM113,000, with subsequent payments scheduled on a monthly basis.
Wan Abdul Rahim said the total amount of RM6.2 million was due to debts and outstanding arrears from 1998 involving salaries of players and coaches and government bodies such as the IRB, Social Security Organisation (Socso) and Employees Provident Fund (EPF).
Meanwhile, The Red Warriors (TRW) Sdn Bhd, the company which will manage the Kelantan team next season, has already been established under the agreement. Kafa will hold 30 per cent of the company’s shares with MQ Technology Berhad holding 70 per cent. ― Bernama
