Archive for category PKFZ
— Jaleel Hameed
The Malaysian Insider
Jul 08, 2012
JULY 8 — In terms of scale, the Talam Corporation Bhd debt settlement pales in comparison with the Port Klang Free Zone (PKFZ) and Scorpene submarine cases.
The mainstream newspapers have been going at great guns with the so-called TalamCorp scandal. Understandbly because they are partial to the Barisan Nasional (BN) government. As for the alternative media, the reverse is true as some are partial to BN’s political foes, the Pakatan Rakyat (PR).
Yet, there’s a marked difference between PR and BN which can be seen by how each one has serious allegations of corruption and mismanagement and their respective reaction to the claims.
In the TalamCorp case, PR leaders are prepared to have a White Paper on the matter although it is puzzling why there has not been one since the case came up in 2010.
And PR MPs such as Tony Pua and Dr Dzulkefly Ahmad and even Tan Sri Khalid Ibrahim are all willing to lift the veil of corporate secrecy and explain the numbers to the public. After all, it involves public institutions and funds from the time the deal was struck when Selangor was under BN rule.
Transparency is key to all this. Read the rest of this entry »
By Clara Chooi
The Malaysian Insider
Apr 23, 2012
KUALA LUMPUR, April 23 — The DAP today demanded all minutes of the Port Klang Authority (PKA) meetings in 2009 and 2010 be made public, while accusing its chairman Datuk Teh Kim Poh and Transport Minister Datuk Seri Kong Cho Ha of misleading the public over the Port Klang Free Zone (PKFZ) bonds payment fiasco.
Petaling Jaya Utara MP Tony Pua said Teh was merely attempting to protect his boss Kong on Friday when the former denied allegations that the minister had been the one who had overturned PKA’s decision not to pay turnkey developer Kuala Dimensi Sdn Bhd (KDSB) bondholders.
“Teh must be either completely clueless about what had happened in 2009 and 2010 or he is just lying through his teeth to protect the boss Kong who appointed him to his current position,” Pua said in a statement here.
The DAP publicity secretary then cited a media report on July 28, 2010 that said it was Kong who had used his ministerial powers to override PKA’s decision to refuse to make the final RM222.58 million to the special purpose vehicle set up by KDSB to raise funds from the market. Read the rest of this entry »
A Pakatan Rakyat government in Putrajaya will set up a Royal Commission of Inquiry into the RM12.5 billion PKFZ scandal
Firstly, I thank the organisers for inviting me to this book launch for Dato’ Lee Hwa Beng’s publication “PKFZ: A Nation’s Trust Betrayed” (written with co-authoress Lee Siew Lian) in the company of Datuk Ong Tee Keat, one of the early “transformation” ministers in the “transformation” Cabinet of Prime Minister, Datuk Seri Najib Razak.
I commend Dato’ Lee Hwa Beng for his book on his three-year “national service” as Port Klang Authority Chairman after the 2008 general elections to try to pry open the Port Klang Free Zone (PKFZ) scandal to promote a culture of accountability, integrity and good governance.
Unravelling the full horrors of the PKFZ scandal – which I have described as not only “a can of worms” but “a swamp of crocodiles” – and bringing to justice those responsible for this “heinous crime” against the nation is, however, a still very uncompleted work.
The PKFZ scandal was one of the dominating issues in Parliament before and after the 12th general elections on March 8, 2008.
On 27th November 2007, I moved a censure motion in Parliament by way of a token RM10 salary cut against the then Transport Minister, Datuk Chan Kong Choy for the consistent wall of denial, equivocation and prevarication in refusing to give full and proper parliamentary accounting for the PKFZ scandal. Read the rest of this entry »
By Shannon Teoh
The Malaysian Insider
Apr 16, 2012
KUALA LUMPUR, April 16 — The DAP today accused Transport Minister Datuk Seri Kong Cho Ha of conspiring to reverse previous efforts to reclaim losses from the RM12.5 billion Port Klang Free Zone (PKFZ) scandal.
Publicity chief Tony Pua claimed the Port Klang Authority (PKA), which comes under the Transport Ministry, has decided to withdraw all legal action against turnkey developer Kuala Dimensi Sdn Bhd (KDSB) for failing to carry out RM1.6 billion in work.
He said the MCA secretary-general “is doing everything in his means to dismantle and reverse all painstakingly agreed steps to get to the bottom of the scandal and cover up for all guilty parties.”
The Petaling Jaya Utara MP said in a statement the suits related to “double and fictitious billings for works never carried out and excessive charges to PKA.”
Pua claimed that PKA has agreed to proceed to arbitration instead despite the “obvious criminality of the alleged offences” by KDSB, whose then chief executive was Bintulu MP Datuk Seri Tiong King Sing, the current Barisan Nasional (BN) backbenchers’ chief.
“Kong and new PKA chairman Datuk Teh Kim Poh have conspired to reverse the decision as well as many other decisions which were taken previously by PKA,” he said. Read the rest of this entry »
– Spencer Gan
The Malaysian Insider
Feb 26, 2012
FEB 26 – When exactly did Malaysia reach this point: where those sullied by wrongdoing (NFC) and the mother of all wrongdoing (PKFZ) speak without shame, even with arrogance.
There is no remorse or humility. Aren’t those who are wrong or who have misused public funds supposed to show some sorrow or at least keep silent?
Not so the people at the National Feedlot Corporation (NFCorp) or the political party whose politicians fleeced Malaysians of billions of ringgit, the MCA. Read the rest of this entry »
— Lucius Goon
The Malaysian Insider
Dec 14, 2011
DEC 14 — I read with amusement the account of Dr Ling Liong Sik’s trial yesterday. His lawyer argued that the former MCA president did not mislead the Cabinet over the inflated cost of acquiring land for the PKFZ because at all relevant times he was briefed by his ministry officials and did not conceal any documents from the Cabinet.
Dr Ling’s lawyer also said that at relevant time in question of the charge against his client, Ong Ka Ting was the minister of transport.
You know what? I think many Malaysians expect Dr Ling to walk because the prosecution’s case against him has been a joke. They have not been able to make even major points of the charges of misleading and cheating stick.
We also have grown tired of so-called “big fish” being hauled to court for corruption and then only to see it end in acquittal. Witness the trials of Eric Chia, Kasitah Gaddam and others.
But let us not get distracted here because, till today, no one is talking about how the billions of taxpayers’ money can be recovered. Read the rest of this entry »
By Shazwan Mustafa Kamal
The Malaysian Insider
Nov 15, 2011
KUALA LUMPUR, Nov 15 — Tan Sri Nor Mohamed Yakcop changed his testimony today, reversing his assertion made a day earlier that Tun Dr Ling Liong Sik’s support letter in the Port Klang Free Zone (PKFZ) project amounted to a government guarantee.
The former second finance minister testified yesterday that only the Finance Ministry could issue a letter of support with the Cabinet’s approval, and that every time such a letter was issued, the government would have to bear the responsibility if anything went wrong.
Nor Yakcop also said that Dr Ling’s letter of support was actually a “guarantee letter” as it helped secure a top-tier rating for bonds raised for the construction of the scandal-hit Port Klang Free Zone (PKFZ) and was sold for a profit of RM40 million.
But the minister in the Prime Minister’s Department also stressed that the support letter from the transport minister had not received the approval of the Finance Ministry or the Cabinet. Read the rest of this entry »
By Sakmongkol AK47 | July 25, 2011
The Malaysian Insider
JULY 25 — This is a gathering of concerned citizens. On the stage forming the committee members of Amanah were Kadir Sh Fadzir himself, Daniel Tajem, S. Subramaniam( a former MIC deputy president), Tengku Razaleigh Hamzah as chairman, Ong Tee Keat, Bujang Ulis from Sarawak and a sitting MP from Sabah.
The audience was made up of mainly concerned citizens of all races, with Malays making the predominant number. I am sure not everyone in there in the hall that day will commit themselves to the rigors of field politics; but I was sure of one thing. Everyone were united in the revulsion and rejection of what is going on in the country — the politics, economy, the divisiveness in our society, the future of democracy, the future of this country.
Read the rest of this entry »
by Damien Murphy Denis
May 24, 2011
Reading the latest happenings about our country is a pain for many of us. Seeing the kind of filth BN politicians churning day in and day out makes you think that Malaysia is in a state of anarchy.
Would anyone disagree? Politically, economically and socially our nation is sinking lower and it seems we are reaching the point of no return.
We were considered to be a model country at one time but today we are on the way to become the “Next Sick Man of Asia” or the next Somalia.
Can we re-claim our country from these corrupt and good for nothing BN politicians? I say we have too. And we need too. Read the rest of this entry »
Written by Sharon Tan
Monday, 28 March 2011
The Edge Financial Daily
On March 22, at Lee’s last board meeting as PKA chairman, he was outvoted 5-2 when the board decided not to sue the members of the previous board for failing to execute their fiduciary duties in relation to the PKFZ fiasco.
Lee, whose political career includes three terms as the Subang Jaya assemblyman, says he knew the Transport Minister had not recommended his reappointment as PKA chairman. However, he remains hopeful as he believes his work is not yet complete.
As his tenure draws to an end on March 31, Lee feels that he has tried to correct the PKFZ debacle, which may cost taxpayers RM12.5 billion if it defaults on its borrowings. Under his watch, a forensic audit of the project was initiated, good practices put in place, including a whistleblower policy, and three independent directors appointed to the board of PKA, which had been filled by politicians and civil servants.
Here are excerpts of the interview: Read the rest of this entry »
Why Chua Soi Lek dare not declare that Ling and Chan were innocent and that they are victims of selective prosecution by Attorney-General?
Just saw the unusual Merlimau and Kerdau double by-election polling day statement by MCA President Datuk Seri Dr. Chua Soi Lek, which is reported by The Malaysian Insider under the headline “Dr. Chua: Kit Siang using PKFZ as vote bait”.
Congratulations! The MCA President has issued a statement which even MCA leaders and members don’t believe, let alone the Malaysian people at large.
I am not interested in trading accusations.
What is obvious is that Chua continues to avoid the issues raised by the corruption charges preferred against the former No. 1 and No. 2 of MCA when they were Transport Ministers in connection with the RM12.5 billion Port Klang Free Zone (PKFZ) scandal, including:
Firstly, why the MCA President dare not declare that the MCA and in particular the MCA leadership are convinced that the two former top MCA leaders were innocent of the corruption charges made against Ling and Chan in connection with the PKFZ scandal?
Secondly, why he dare not declare that Ling and Chan are victims of selective prosecution by the Attorney-General, Tan Sri Gani Patail, when no other political personalities particularly from UMNO, have been charged for the same PKFZ scandal? Read the rest of this entry »
Why no protest by CSL at Ling and Chan being singled out for corruption charges in connection with RM12.5 billion PKFZ scandal without any Umno personality being charged?
Many questions are swirling in the minds of Malaysians over the corruption charges against former MCA President, Tun Dr. Ling Liong Sik and former MCA Deputy President, Tan Sri Chan Kong Choy in connection with the RM12.5 billion Port Klang Free Zone (PKFZ) scandal which do not enhance public confidence in the independence, professionalism and integrity of the Attorney-General, the Malaysian Anti-Corruption Commission (MACC) and the judiciary.
Firstly, why the MCA President Datuk Seri Chua Soi Lek endorsed the Attorney-General Tan Sri Abdul Gani Patail’s prosecution of Ling and Chan as Chua had publicly said after Chan was charged in court on Monday that “anyone who had committed an offence in the eyes of the Attorney-General’s Chamber should face the music”.
It is no secret that there is considerable questioning, not only among the general public but particularly at all levels of the MCA leadership and membership, why the two former Transport Ministers who were MCA No. 1 and 2 had been singled out for corruption charges for the PKFZ scandal when there has not been a single prosecution against any Umno personality. Read the rest of this entry »
Emergency MCA GA to decide whether MCA should make public apology for producing MCA President /Deputy President charged for the RM12.5 billion PKFZ scandal?
The assertion by the MCA President Datuk Seri Dr. Chua Soi Lek that there was no reason to apologise for the two top MCA leaders who were Transport Ministers, Tun Dr. Ling Liong Sik and Tan Sri Chan Kong Choy as whatever happened was the personal conduct of the leaders concerned and his strident denial that “MCA is a cheating party” have raised eyebrows nation-wide, even in Barisan Nasional parties including his own MCA!
Firstly, let me clarify that I had not asked Chua as MCA President to apologise over Ling and Chan on the ground that they were guilty of “grand corruption” as their trials have not even started – and I go along with the legal maxim that a person is innocent unless found guilty by the courts.
I had however asked Chua whether as MCA President he would apologise to Umno, Barisan Nasional and all Malaysians for producing a MCA President and MCA Deputy President who are charged in court for corruption in the RM12.5 billion Port Klang Free Zone scandal based on Chua’s own comments as published by the Star on Tuesday (1.3.11), viz:
Dr Chua said anyone who had committed an offence in the eyes of the Attorney-General’s Chamber should face the music.
“This shows that the Government is fair because it doesn’t just go after the small fish but also the big fish,” he said.
Since Chua as MCA President fully supported the Attorney-General’s prosecution of the two top MCA leaders for corruption in the RM12.5 billion PKFZ scandal, isn’t his next logical and responsible action (regardless of the outcome of the trials) should be to make a national apology for a MCA President and MCA Deputy President being charged for corruption in the PKFZ scandal when they were Transport Ministers? Read the rest of this entry »
CSL and MCA leadership should declare whether they believe in Ling and Chan’s innocence or that both were “political scapegoats” for Umno
The MCA President Datuk Seri Dr. Chua Soi Lek and the MCA leadership should declare their stand – whether they believe that former MCA President Tun Dr. Ling Liong Sik and former MCA Deputy President Tan Sri Chan Kong Choy are innocent of the corruption charges which have been preferred against them when they were Transport Minister in connection with the RM12.5 billion Port Klang Free Zone (PKFZ) scandal or that both were “political scapegoats” for Umno.
Ling and Chan have made infamous Malaysian history for being the first two Cabinet Ministers to be charged for “grand corruption” in misleading the Cabinet in September/November 2002 (Ling’s charge) and the Prime Minister in February 2004, October 2005 and March 2006 (Chan’s charges).
Two of Ling’s contemporaries as Cabinet Ministers in 2002 are still MPs although backbenchers – Datuk Ong Ka Ting who was then the Minister for Housing and Local Government and Datuk Fong Chan Onn, then the Minister for Human Resources. Read the rest of this entry »
Is CSL going to apologise for producing a MCA President and MCA Deputy President who betrayed the trust of the people and country as Transport Minister in the RM12.5b PKFZ “grand corruption”?
MCA President Datuk Dr. Chua Soi Lek astounded Malaysians and the world with his smug reaction to the corruption charges against a second MCA Minister yesterday – former MCA Deputy President and former Transport Minister Tan Sri Chong Kong Choy – in connection with the RM12.5 billion Port Klang Free Zone (PKFZ) “scandal of scandals”.
Chua said Chan’s court case will not affect MCA. He said when a person was charged in court, it did not mean he was guilty.
He said: “We should let the legal process take its course.”
Chua’s comments raise many intriguing questions. Has the MCA President been given an assurance by the “higher-up” that Chan was not guilty of three charges of corruption laid against him yesterday for which a RM1 million bail was posted – and that the former MCA Deputy President would be cleared in the trial, most likely after the next general elections?
Or has Chua any good reason to believe that the corruption charges against Chan as well as the corruption charges made previously against former MCA President and former Transport Minister Tun Dr. Ling Liong Sik were just “a political charade” and that the charges would be quashed with the duo declared innocent after the next general elections? Read the rest of this entry »
MCA Ministers and leaders should show at least equal concern for “Justice for 27 million Malaysians who are victims of the RM12.5 billion PKFZ scandal” than “Justice for Ling Liong Sik”
MCA leaders, including Housing and Local Government Minister Datuk Seri Chor Chee Heung, lined up to give support to former MCA President and Transport Minister, Tun Dr. Ling Liong Sik after he was charged with cheating the Cabinet in the RM12.5 billion Port Klang Free Zone (PKFZ) scandal.
Without commenting on Ling’s case, Malaysians are entitled to expect that MCA Ministers and leaders should show at least equal concern for “Justice for 27 million Malaysians who are victims of the RM12.5 billion PKFZ scandal” than “Justice for Ling Liong Sik”.
What have the MCA national leadership, and in particular the four MCA Ministers, done to ensure justice for the 27 million Malaysians in connection with the PKFZ scandal?
Did the MCA national leadership and the MCA Transport Minister Datuk Seri Kong Cho Ha prioritise the interests of the 27 million Malaysians when he overrode the decision of the Port Klang Authority (PKA) and directed it to pay its PKFZ bond obligation of RM222.58 million to Kuala Dimensi Sdn Bhd (KDSB) special purpose vehicle Free Zone Capital Bhd (FZCB)? Read the rest of this entry »
Will Mahathir or any of his Ministers in 2002 Cabinet testify in court of being misled by Ling to approve Port Klang Authority’s purchase of PKFZ land with 15-year repayment with compound interest instead of 10 years?
The charge preferred against former MCA President and Transport Minister, Tun Dr. Ling Liong Sik, in connection with the RM12.5 million Port Klang Free Zone (PKFZ) scandal has mystified many.
The charge against Ling reads:
“That you, between Sept 25 and Nov 6, 2002, at Level 4 of the Prime Minister’s Office in Bangunan Perdana Putra, cheated the Govern ment by deceiving the Cabinet into approving a land purchase in Pulau Indah for a Mega Distribution Hub project in Port Klang according to the terms agreed between Kuala Dimensi Sdn Bhd and Port Klang Authority which, among others, are:
the size of the land being 999.5 acres or 43,538,200 sq ft
the purchase price for the land being RM25 per sq ft amounting to a total of RM1,088,456,000
the repayment period being based on a “deferred payment” of 15 years with an interest rate of 7.5% per annum (total RM720,014,600), and thereby dishonestly hiding the fact that the valuation by the Valuation and Property Service Department on the land was RM25 per sq ft for a repayment period of 10 years or RM25.82 per sq ft for a repayment period of 15 years, including coupon/interest that could be charged for the repayment period.
Former transport minister Ling Liong Sik was today charged at the Kajang Sessions Court over his involvement in the multi-billion ringgit Port Klang Free Zone (PKFZ) scandal.
Ling, 67, who is also former MCA president, is by far the most prominent politician to be nabbed in recent years.
He is charged under Section 418 of the Penal Code with misleading the cabinet between Sept 25 and Nov 6, 2002 into agreeing to purchase 999.5 acres of land on Pulau Indah for a project, that is now known as PKFZ, at a price of RM25psf on a deferred payment method for a 15-year period, at a 7.5 interest rate.
The cumulative interest paid would total at RM720 million at the end of the repayment period.
He was also ffered an alternative charge under Section 417 of the Penal Code for the same offence.
Read the rest of this entry »
Call for reports of the PKFZ scandal “super taskforce” to be made public to account for actions taken by Najib administration in past year
The decision by the Transport Minister, Datuk Seri Kong Cho Ha to override the decision of the Port Klang Authority (PKA) and direct it to pay its Port Klang Free Zone (PKFZ) bond obligation of RM222.58 million to Freezone Capital Bhd (FZCB) is another proof that his topmost concern and those of the Najib Cabinet is to bail out the PKFZ turnkey contractor Kuala Dimensi Sdn. Bhd (KDSB) rather than to do justice to the 27 million Malaysian people in the RM12.5 billion PKFZ scandal.
The PKA Board had acted properly in expressing reservations on the payment of RM222.58 million to KDSB’s special purpose vehicle, FZCB, because of an RM1.4 billion ongoing suit and considering withholding payment because of its worry that it may not be able to recover funds from KDSB.
Kong’s decision is all the more deplorable as it has now been revealed that KDSB had given undertakings that it will cover any shortfall in bond repayments should PKA fail to do so, making it KDSB’s problem and not that of Malaysian taxpayers.
Read the rest of this entry »
Deputy Transport Minister Abdul Rahim Bakri has given an assurance that the government will pay what is due to the Port Klang Free Zone (PKFZ) bondholders.
“We have a commitment to the bondholders, therefore we have to fulfill it,” he told the House today, when winding up matters relating to the ministry in the 10th Malaysia Plan.
He was replying Lim Kit Siang (DAP-Ipoh Timor) who had asked whether Port Klang Authority (PKA) would make any payments to PKFZ turnkey contractor Kuala Dimensi Sdn Bhd (KDSB), given the legal dispute between them.
PKA is due to pay RM723 million to the bondholders tomorrow, akthough it has taken KDSB to court for alleged overcharging.
The Internal Revenue Board (IRB), Lim noted further, has also asked PKA to pay RM328 million owed by KDSB in alleged backdated taxes.
Read the rest of this entry »