KUALA LUMPUR: A SENIOR official at Keretapi Tanah Melayu Bhd (KTMB) has been suspended from duty by the board for alleged fraud, said people with knowledge of the matter. According to sources, KTMB had started an internal investigation on the matter. There have been many attempts to revive the loss-making KTMB, which was corporatised in 1992. KTMB’s debt had risen to more than RM2.5 billion despite attempts to cut cost and increase revenue. Nawawi had previously said that KTMB needed to improve its overall operation and bring in between RM600 million and RM650 million a year collectively to become a profitable entity.

Source: New Strait Times November 05, 2016 04:50 UTC