by Damien Thanam
Two weeks ago I heard from TV3 news and read in the papers how close we (Malaysia) are to the China and to prove this diplomatic brotherhood, the People’s Republic of China is ready to allow one of its state run bank to loan a generous RM850 million for the construction of the 2nd Penang Bridge..
It was a proud moment for the Chief Minister of Penang & our top leaders as they are very sure that they have secured that amount from the soon-to-be No. 1 country in the world if China’s economic growth is steady in its current up-trend momentum.
But the people of Malaysia will be in-debt with China for a long period with the announced so-called generous interest rate that is being given for this loan. As a Malaysian, I would like to ask my government in particular its fund managers i.e Prime Minister who is also the Finance Minister, Deputy Prime Minister, the Second Finance Minister, the Governor of Bank Negara and Inspector General of Audit –
*Why did the government waste RM400 million (actual amount unknown) for nothing to pay the developer of Gerbang Perdana after scrapping a project that was nearing completion?
*Is the government going pay an estimated RM500 million to the contractors of the scrapped incinerator plant in Broga too?
The above two settlements alone could avoid the Penang Bridge loan from China & with an additional RM50 million to be used to upgrade environmentally-friendly public transportation in the Northern region.
Wasn’t the cost of building the 2nd Penang Bridge included in 9th Malaysia plan, if yes, then why is the goverment taking a loan to build it? If not, why wasn’t it?
The government has also awarded (as far as I know) a USD7 billion plus, 300 kilometres oil-and-gas pipeline project to a company with a paid up capital of RM100,000.00 and posted a loss of 150% more than what the company was shown to be paid up for!
What will happen if the pipeline project gets scrapped, will Malaysia have to pay USD3.5 billion to this company for a project that it has not even laid a single brick for?
The fund managers of this country have shown that they are not in anyway qualified or worst, are stealing from the funds!!
I would like to know as a Malaysian, can I sue these fund managers or government of mine for mismanaging the income of this country and not being able to provide a decent explanation for the millions being paid out for stupid management & planning!!
Damien Thanam