Friday, August 24, 2007

Record Mega-Scandal

Have you been following the RM4.6 billion Port Klang Free Trade Zone mega-bailout scandal? If not, it's time you look into it. Malaysiakini has extensive set of reports on this issue, and The Sun has written a fair bit about it in recent weeks as well. Jeff Ooi has also given a decent summary of the extensive details here.

I won't bother repeating the details here, except to emphasize the fact that our previous largest financial scandal which necessitated a Royal Commission of Enquiry and a White Paper was for the RM2.4 billion BMF scandal involving Bumiputra Finance. Will we see a similar transparency and integrity in the Pak Lah-led administration?

Ronnie Liu, who first discovered the scandal, filed the 4th police report on the above issue, after unsatisfactory responses provided by the authorities which failed to address many key issues relating to the scandal. In particular, the Minister in-charge, Datuk Seri Chan Kong Choy has taken a leaf off Pak Lah's elegant silence. Here's the short list of the many critical unanswered questions, awaiting the reply of Pak Lah's clean and efficient government:
  • Why build so many units of warehouses and leased office blocks when there were no takers?

  • Why was there no effort to find investors before we lodged police reports this year?

  • Why build a 4-star hotel with 215 rooms here? Why build a dedicated highway here?

  • Why buy 1,000 acres when you only need 500 acres?

  • Why appoint the same lawyer for the seller (Kuala Dimensi) and buyer (PKA)?

  • Why appoint Chor Chee Heong as the chairman of PKA when he is already the deputy chairman of Wijaya Baru/ Wijaya International (owner of Kuala Dimensi)?

  • Why extend O C Phang’s service as the GM for PKA for 5 times?

  • Why appoint O C Phang as the CEO of PKFZ when she is already the GM of PKA?

  • Why Chan Kong Choy, the Transport Minister, still keeping quite when the PM has already asked him to explain to the public about two weeks ago?

  • Who were responsible for changing the minutes of meetings as alleged by Jafza?

  • Was it true that there were attempts to evade tax as alleged by Ernst & Young?

  • Was it true that there was a plan to demolish all the 512 units of warehouses because they were of wrong design and not practical?

  • Was it true that the accumulated loss of PKA has exceeded RM 3 billion?

  • Was it true that PKFZ needs to pay more than RM500 million for the loan beginning from this year for 15 years?

  • Wouldn’t these will add up to more than RM7.5 billion in 15 years down the road.

  • What were the roles played by the two former PKA chairperson, Ting Chew Peh and Yap Pian Hon?

  • Was there a breach of trust both by the former and current Transport Minister?
So many questions, so many promises to fulfil and yet, so little time... but some people can still find time to doze off during meetings.
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