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.

12 comments:

Anonymous said...

at the beckoning of its political masters ( at least in my perception), the STAR today attempted harakiri (to its credibility) by trying to justify this scandal tainted white elephant. Self-sustaining project with earnings of RM40.0 million before interest against whooping capital cost of RM4.63 billion. Simians wont even dare to use this line of reasoning of self sustenance as a cover up. what more a national paper.
think we are dumbasses. asking myslef why I am still buying STAR paper. for daily dark humour?

Anonymous said...

Dear Transport Minister Chan Kong Choy,

Don't be a coward, you still owe the nation an explanation on this big scandal. Don't keep silence to avoid the questions raised by the Sun lah. Silence means you are guilty of the corruption allegations!

Go the the parliment and dedate with Lim Kiat Siang, else call yourself a real chicken with shrunken balls!

You are a real shame to MCA!!

Sincerely,
Staff at MCA Headquaters

Anonymous said...

I am sure other mega projects such as the Iskandar Development Region (IDR) and the Northern Corridor Economic Region (NCER) launched by the sleepy Pak Lah will suffer a similar fate.

It's corruption, corruption, and corruption!!

Our ACA (ass cover ass) is a real shame to the nation!

Vincent said...

Most people will happily believe what's reported by the mainstream media....sigh.

Bekas Ahli MCA said...

Kang Choy......!!!!
Where are you???
Dont be a chicken and try to run away from the issues
We the rakyat want real answers from you NOW!!

Anonymous said...

We are already at the "bottom of the valley" in terms social justice n human right,contitutional right,social economic development,vision on nation building n worst still,corruption by the current leaderships are so rampant;reaching the stage of no return!!It has evolved into a norm for all walks of life as far as malaysia is concerned!!We are already at the stage whereby life could not be getting any more worse!!So ,why afraid of change??The change is not for ourselves only,it should be a change for your future generations' betterment,a change for a better malaysia ??A change for a "good color blind" malaysia in the context of u know what i mean!!a change in seek of a real leadership for all malaysian n not jus certain race!!a change whereby malaysian could nurture the type of statemanship that could lead all malaysian to compete with the rest of the world,n most impotant,make all malaysian laud proudly as malaysian deep from the heart!!

Anonymous said...

Malaysian must first be enlightened on how risky n vulnerable we are n for the nation in such a situation whereby almost 200 out of 219 seats are returned to a so called "front",especially so whereby MCA,MIC,GERAKAN n the others "mosqueto" components are jus "rubber stamps" for umno to qualify in their whim n fancy dealings!!By voting in this kind of manner,we are 'signning"away our n our future generation's well beings away indiscrimately!!This is jeopalising n fatal n unhealthy for all malaysian !!this is exactly what happen to this nation now,like it or not,absolute power "craddles" corruptions,abusing of rights,ignorance on responsibility,tyrannical ruling behaviours,forgetting they are of ,from n for the people!!Put it in a simpler manner,not many rich men even dare to "kuasa" his entire wealth to his kins n siblings before his last breath.Any man could hav promised any woman that she would be his only n last woman in life,n visi-versa;but who knows?Only the very last breath would tell!!common folk like me n u,irregardless of race must vote sensibly ,our vote is expensive,not rm200.00 can buy!!YM Raja Nazrin is right,malaysian must be encouraged to comprehend the constitution,then they won't be apprehended and confused in such a apathetical manner!!200 out of 219 is an act of "harakiri",it is heading towards the word "detrimental" could describe for malaysia n all malaysian.Do not be affraid of pas,dap n keadilan or even independents who know Raja Nazrin,Raja Petra who might be one of them!As far as the rule of game is concerned,they could be "red-carded" during GE for non performance!!borrow from a great man's statement"black cat or white cat,the cat that can catch mouse(for the good of malaysia n all malaysian)is a good cat"!!
26/08 19:58:47

stocktube said...

it appears every prime minister who walks the corridor of power will have to clock a mega-project which needs a bail-out to be remembered ...

but you shouldn't be surprise with such a huge bail-out as such thing will not happen it you didn't vote them in the first place ...

cheers

Fooyoong said...

A statement from the Ministry of Transport stating the reason why JAFZA withdrew from the PKFZ due to the former wanting a stake but was denied by the government.
Supposing the government gave reason of not wanting foreign ownership due to PKFZ project of country interest.
Why then Li Ka-Shing's Hutchison Whampoa was allowed a stake in Westport??

Anonymous said...

Still we are told that PKFZ will attract hundreds of investors as reported in the mainstream news media. What a great lie!

This time the great Tsunami will not originate from the SEA but from PUTRAJAYA!!!!

Anonymous said...

Well, 2 groups will start blaming each other - TDM/Ling Liong Sik and Pak Lah/Chan Kong Choy. The rest who benefited from this debacle will pray to their God that no one will point fingers at them so as they can enjoy their ill-gotten gains.

Who ultimately will be the LOSER???

Do the Rakyat or all taxpayers read this ominous sign??

I tragically doubt so!

Anonymous said...

Chan Kong Choy went on a timely medical leave. To have a medical check-up in another country. This is a big joke from the Malaysian Circus Association (MCA).

Buying land at inflated price by the government is a sure way to fill their own personal coffers while the nation suffers. They are not doing anything productive nor turning assets into further production machinery but shifting assets on paper, inflating properties prices so that the government can swallow it log stock and barrel.

Now this is not only MCA has their dirty fingers in the cookie jar, this includes the UMNOs and the State Assembly man who got their fill of the share. Malaysia has been gang raped by the Pirates of BN over and over again.

AAB it is time that you get lost. YOu reneged on your promise, you have broken every rule of transparency, you have milked the country to its barest bones and you are now married to your beloved wife. So go and have a second honeymoon and get lost. You should be totally ashamed of yourself and your family. The first mark of a PM is that he loves his country more than he loves the spoils that come with the office. You are so greedy and arrogant but I do hope that your wife has some senses in her that her soft spoken husband has raped the country over and over again. I weep for Malaysia.