Prodigy John Lee was commissioned to compile some info on this disgusting PKFZ scandal, and he did a stellar job.
What we have here is the BN conspiring to rob a bunch of poor fishermen first, and then try to make the rakyat tanggung the gargantuan cost of a completely worthless white elephant.
Kudos to Ronnie Liu, who I always respect for his views on Opposition Unity among other reasons, for tracking this case over the years.
Let’s let John’s thorough research do the talking:
1990s:
- Pulau Lumut Development Cooperative Bhd (PLDCB) sells land to Kuala Dimensi for RM1.37 psf; second portion sold at RM2.98 psf. http://www.malaysiakini.com
2002:
- Port Klang Authority proposes to buy up land from Kuala Dimensi. Port Klang Authority advised to buy land under Land Acquisition Act, meaning it would pay only RM10 per square foot. Advice declined.
- Port Klang Authority awards sole rights to develop PKFZ to Kuala Dimensi; Kuala Dimensi takes out bonds to finance the project, guaranteed by Transport Ministry. http://malaysia-today.net
2004:
- Port Klang Authority appoints Rashid Asari & Co, a firm on Kuala Dimensi’s legal panel, to handle the sale. Rashid is vice-chief of Umno Kapar. http://www.malaysiakini.com
2004:
- Port Klang Authority completes purchase of same land at RM25 psf from Kuala Dimensi. Price of land went up from RM95 million in 1999 to RM1.1 billion in just five years. http://www.malaysiakini.com
May 2004:
- Auditor-general report reveals that the real price was actually RM1.81 billion (inclusive of 7.5 percent interest). In a supplementary agreement with Kuala Dimensi, Port Klang Authority raised the development cost from RM519 million to RM1.3 billion without explanation.
- The report suggested that Port Klang Authority could not meet its RM2.9 billion obligation (with RM208 million of the RM3.1 billion total bill already paid up). It conjectured that a new Malaysian Ports Commission or the Ninth Malaysia Plan would provide further funding in 2007, prompting accusations of a govt bailout. http://www.malaysiakini.com
May 2006:
- Auditor-general’s report does not mention Malaysian Ports Commission. It suggests Port Klang Authority “is planning to obtain loans from financial institutions with the guarantee of the government of Malaysia as well as requesting grants to finance the project”.
- It is revealed that in 2005, development costs increased to RM2.51 billion due to “additional development works, professional fees and interest.” The balance of the RM4.11 billion owed will be paid from 2007 to 2017.
- As of Dec 2005 Port Klang Authority holds cash and FDs worth RM231.75 million; after-tax surplus was RM26.63 million. Auditor-general says it “needs to look for sources of financing to meet its capital obligation.” http://www.malaysiakini.com
July 2007:
- Cabinet is told that cost increases in the PKFZ project from RM1 billion to RM4.6 billion were made without approval of Finance Ministry, which is mandatory for all cost increases in excess of RM100 million.
- Transport Ministry’s guarantee of Kuala Dimensi bonds found to be against normal practice, which dictates that only the Finance Ministry may do this. http://malaysia-today.net
*
And the cast of characters?
YB. Tan Sri Dato’ Seri Hj Onn Hj Ismail
- former head of Pulau Lumut Development Cooperative Bhd
- Permanent chairman of Umno Kapar
Rashid Asari
- Lawyer for both Kuala Dimensi and Port Klang Authority
- vice-chief (Naib Ketua) of Umno Kapar.
Faizal Abdullah
- deputy CEO of Wijaya Baru Global Berhad
- Owns 0.8% of Wijaya Baru Global Berhad shares
- Umno Kapar youth chief.
- Son-in-law of Onn Ismail
YB. Dato’ Hj Abd. Rahman Hj Palil
- Present chair of Pulau Lumut Development Cooperative Bhd
- Umno Kapar division head
- Selangor state exco
- Sementa state assemblyman.
Dato’ Seri Tiong King Sing
- Largest shareholder of Wijaya Baru Global Berhad, holds 32.08% of its shares.
- Owns about 70% of Wijaya Baru Holdings, which owns 100% of Kuala Dimensi
- MP for Bintulu, under the Sarawak Progressive Democratic Party, which has been linked to Abdul Taib Mahmud.
Tan Sri Dato’ Paduka Dr Ting Pek Khiing
- Owns 1.36% of Wijaya Baru Global Berhad. His wife Puan Sri Datin Paduka Wong Sui Chuo owns 0.27%.
- Linked to Taib. Behind the Bakun Dam idea.
Datuk Azim Zabidi
- chairman of Kuala Dimensi
- UMNO treasurer
Chor Chee Heung
- Appointed to the board of directors of Wijaya Baru Global Bhd (WBGB) on April 23, 2004.
- On April 19 2007, he took over the helm of Port Klang Authority.
- Transport Ministry parliamentary secretary from 1995-2000 and deputy minister in other portfolios until he stepped down in 2004. The following year, he lost his bid to become one of MCA’s four vice-presidents and dropped out of active politics.
*
For more documentation, see:
kuala-dimensi-company-report.pdf
wijaya-baru-company-report.pdf
*
Utterly, utterly disgusting. More BN for you?
This is what patriotism is all about. The BN way.
That singing barger shouldn’t learn the bad value from taiwan. He should enroll and learn from BN instead.
I’ve translated you and John Lee’s piece into Malay here:
http://www.niknazmi.com/wordpress/?p=541
I’ve calculated what the public has lost out of the RM4.6 billion!
Excellent sleuthing, Insp. John Lee of the Nova Police! Thanks for translating, Nik Nazmi. I’ll help by circulating this blogpost far and wide.
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