Thursday, 29 Apr 2010

KUALA LUMPUR: Prokhas Sdn Bhd has collected RM2.92bil cash on behalf of Danaharta Nasional Bhd, and it expects to collect another RM650mil by end-2011.

“The goal is to convert all residual assets into cash and to maximise recovery as much as possible,” Prokhas managing director Fazlur Rahman Ebrahim said in a statement. “We hope to realize RM3.57bil in cash collection by end of 2011.”

Prokhas, a wholly-owned company of Minister of Finance Inc formed in January 2006, took over the management of all Danaharta’s residual assets and continued with the tender exercises that the former asset management company carried out during its lifespan. —Bernama