Saturday, July 07, 2012

Chua Tee Yong Double Counts Talam "Scandal"

Datuk Chua Tee Yong had claimed that the “PR Selangor Government must explain to the Rakyat the acquisition on the RM676 mil worth of assets and the usage of RM392 million allocation which total to the RM1 billion questionable deal.”

Firstly, from a mathematical standpoint, using RM392 million to acquire RM676 million of assets does not add up to a RM1 billion questionable deal.  That’s elementary double-counting.

It's like saying he used RM40,000 to acquire a RM60,000 car.  It's either a RM20,000 cock-up, or a RM40,000 abuse or a RM60,000 con-job.  It's NOT a RM100,000 scandal.

But that’s not important.  What is important is whether the Pakatan Rakyat (PR) Selangor government had abused tax-payers’ monies to bailout financially troubled company, Talam Corporation as alleged by Datuk Chua. Check out subsequent posts for details.

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