PwC report on PKFZ Scandal – has it answers to five questions I posed to Ong Tee Keat on 9th April 2009?

I welcome the public release of the PricewaterhouseCooper (PwC) audit report into the Port Klang Free Zone (PKFZ) scandal, which I had been pressuring the Transport Minister, Datuk Seri Ong Tee Keat in the past year, which had been intensified in the past two months, not only on Ong, but also on the Cabinet and the new Prime Minister, Datuk Seri Najib Razak.

I commend the Prime Minister and Ong for the publication of the PwC report on the PKFZ scandal. In fact, there should have been no foot-dragging and procrastination in withholding the PwC report from MPs and public if the Cabinet is serious about accountability, transparency, integrity and good governance.

I would not say anything until I have the opportunity to study the PwC report, except to say that the first thing I would look for is whether the PwC report furnish answers to five questions on the PKFZ scandal which I posed to Transport Minister, Datuk Seri Ong Tee Keat, on 9th April last year, viz:

      1. Was it true that when the Port Klang Authority and the Transport Ministry insisted on buying the 1,000 acres of Pulau Indah land for PKFZ at RM25 psf on a “willing buyer, willing seller” basis, in the face of strong objection by the Attorney-General’s Chambers and the Treasury which had recommended that the land be acquired at RM10 psf, the Cabinet had given its approval subject to two conditions: (i) categorical assurance by the Transport Minister that the PKFZ proposal was feasible and self-financing and would not require any public funding; and (ii) that every RM100 million variation in the development costs of PKFZ would require prior Cabinet approval.

      2. In the event, the first condition was breached when the PKFZ project ballooned from RM1.1 billion to RM4.6 billion requiring government intervention and bailout while the second condition was breached with the original PKFZ development costs of RM400 million ballooning to RM2.8 billion without any prior Cabinet approval ever sought for every RM100 million increase in development costs.

      3. The Transport Minister had unlawfully issued four Letters of Support to Kuala Dimensi Sdn. Bhd (KDSB), the PKFZ turnkey contractor — to raise RM4 billion bonds, which were regarded as government guarantees by the market. The Transport Minister had no such powers to issue financial guarantees committing the government, as it could only be issued by the Finance Minister and only after Cabinet approval. The first Letter of Support was issued by the former Transport Minister, Tun Dr. Ling Liong Sik on May 28, 2003, which was Liong Sik’s last day as Transport Minister while the other three were issued by Kong Choy.

      4. Whether it wasn’t true that in recognition that the four unlawful “Letters of Support” of the Transport Minister had nonetheless given implicit government guarantee to the market that the Cabinet had in middle of last year gave retrospective approval for the unlawful and unauthorized four Letters of Support by the Transport Ministers in the past four years creating RM4.6 billion liability for the government in the bailout of PKFZ.

      5. Why no action had been taken against the two previous Transport Ministers, both Liong Sik and Kong Choy, as well as the government officials responsible for the unlawful issue of the four “Letters of Support” – getting the government embroiled in the RM4.6 billion PKFZ scandal?

  1. #1 by SpeakUp on Thursday, 28 May 2009 - 1:33 pm

    Mr LKS … someone should lodge a report with the police or MACC etc on this matter. Will you do it so that the ball gets rolling? There is a lot of rot in this project. I think if you were to lodge a police report it would show some leadership by example. Dig out the rot in the proper manner … will you?

  2. #2 by siamo on Thursday, 28 May 2009 - 1:38 pm

    MACC and Police will only go after the opposition. Look at Khir Toyo, going around having a good time and not providing information.

    It should be called MACCAP, Malaysian Anti Corrruption Commission against PR.

  3. #3 by ALLAN THAM on Thursday, 28 May 2009 - 1:46 pm

    When we talk of wiling buyer and willing selling or transaction at arm length. It is always easy to justify. Why, it is simple when o talk about fair price at arm length price. Any price is fair price and it can always justifiable simply your arm and my arm are never at the some length. So when you talk about RM25 to be an arm length price. It was an arm length price as BN arm is always longer than the arm length of say DAP or Pas or PR for that matter. So it will never be able to proof that the RM25 per sq foot was not an arm length price as far as BN is concern or MCA is concern.
    So it is no pint of talking about this price now.
    The more important issue now is why this project has become a failure, at least from what it stand now?
    It is very simple, the initial motive or the virgin motive of conceptualized this concept of this project is not for the development of this so call international transportation hub but rather it was for an evil motive to suck away as mush money as possible for those who are born corrupts or the reborn of corrupted souls.
    From all the facts as reported we could not help this project has never go through proper feasibility studies if there any it was also use the studies to feed all the cronies all the toe to the heads.
    It was pity that regardless the report is being make public or other wise, those who has approved the project going is now sipping his whiskey every morning, the law will not catch up with the crooks simply your arm and my arm are not at the same length, like YB Kit arm and all other arm length are no the same.

  4. #4 by k1980 on Thursday, 28 May 2009 - 2:18 pm

    Sorry to be off-topic

    Starting next year, students sitting for the SPM examination will only be allowed to take a maximum of 10 subjects, Deputy Prime Minister Tan Sri Muhyiddin Yassin said. He said that of the half a million students who sat for the SPM examination, over 48,000 of them took more than 10 subjects.

    Now that the creativity of brillant students have been blocked, I propose that the standard of the SPM be further brought down so that each and every candidate can get 10A1s. Imagine the impact this will have on the world when half a million students score 10A1s every year!

  5. #5 by Ipoh Cake House on Thursday, 28 May 2009 - 3:49 pm

    Hi my friend Allam Tham..
    somehow after reading much of ur ‘good’ comments, i feel that u might take over my respected YB Lim..feel so ‘proud’ of u!!

    how u know others arm length and even YB Lim arm length..i’m always curios on what u said..

    “The more important issue now is why this project has become a failure, at least from what it stand now?”
    u know how to ask such good..but did u ever think of what u can do for the sake of rakyat and developement of the country??
    stop the nonsense keep on comment on others..give some good ideas to do the best for others and the some good example to others..dont let ppl always think that Rocket like to dig others problems and didnt help in developing the country..and at least for the sake of our party..
    Anyway just see the OTK slap on his thick face!!! what report will come out today..-:

  6. #6 by ekin on Thursday, 28 May 2009 - 3:53 pm

    Its good to see every students scoring 10 A1s because of the lowered standards and potential minimized. Just imagine half a million of students getting 10 A1s, then everyone of them applying scholarships. Is there so much funds allocated? LOL…

    500,000 students = 500,000 applications
    if Rm 30,000/student allocated,
    30,000 x 500,000 = 15,000,000,000
    if only Rm 50,000,000 allocated for the Education Ministry,
    50,000,000/30,000 = 1667

    500,000 – 1,667 = 498,333 students
    That means 498,333 students with 10A1s will have to to be flushed into the toilet since only 1,667 students could be given scholarships.


  7. #7 by ALLAN THAM on Thursday, 28 May 2009 - 4:12 pm

    I can never know how to developed the country but I did know how to pay my taxes. I just want people like YB Kit to harp on issue that the suckers has suck my money away.

    Off I wish more youngster dare to come up of offer more constructive how to developed this country.

    May be when I have time I should drop by the Ipoh Cake House to take a bit of cake and enjoy myself when I next visit Ipoh.

    Honestly I have nothing to offer but I have to curse the suckers as I say again they conceptualized all evil project to suck the public money.

  8. #8 by Loh on Thursday, 28 May 2009 - 4:39 pm

    Sorry, off-topic
    Dr. Mahathir Mohamad
    on May 27, 2009 10:35 PM | Permalink | Comments (4) | TrackBacks (0)

    ///1. We are all held to ransom by extremists. We want to be rational and we all want to do what is best for ourselves and our country. We all want the best for our children and their future. But we cannot do all these because if we do we will be accused of being traitors, not supporting our own community or our own religion. We will be demonized etc.etc. ///– TDM

    It is funny logic to say that the “politicians’ would be accused of becoming traitors, not supporting their community or their religion if they want the best for the children. As usual with the forth tongue that TDM has, he wanted to say that others would accuse him of being a racist if he tried to do the best for his children and their future, and extending it to mean Malays. He wanted to give the expression that the extremists prevent him to do good for Malays.

    Nobody would utter the word racist if he uses whatever resources he has, of his own, to create great future for his children or the Malays race. But what people objected to is that he as PM used the resources of the country to do the best for Malays and not similarly for other races. What’s worse he introduced policies to obstruct the progress of other races so that Malays could advance. That is racist, and the country suffers when that racist wielded power of absolute monarchy.

    Mencius of 300 BC said: Quote:
    That benevolence, righteousness, propriety, and knowledge belong to man as naturally as his four limbs, and may easily be exercised.

    1. Mencius said, ‘All men have a mind which cannot bear to see the sufferings of others.

    2. ‘The ancient kings had this commiserating mind, and they, as a matter of course, had likewise a commiserating government. When with a commiserating mind was practised a commiserating government, to rule the kingdom was as easy a matter as to make anything go round in the palm.

    3. ‘When I say that all men have a mind which cannot bear to see the sufferings of others, my meaning may be illustrated thus:– even now-a-days, if men suddenly see a child about to fall into a well, they will without exception experience a feeling of alarm and distress. They will feel so, not as a ground on which they may gain the favour of the child’s parents, nor as a ground on which they may seek the praise of their neighbours and friends, nor from a dislike to the reputation of having been unmoved by such a thing.

    4. ‘From this case we may perceive that the feeling of commiseration is essential to man, that the feeling of shame and dislike is essential to man, that the feeling of modesty and complaisance is essential to man, and that the feeling of approving and disapproving is essential to man.

    5. ‘The feeling of commiseration is the principle of benevolence. The feeling of shame and dislike is the principle of righteousness. The feeling of modesty and complaisance is the principle of propriety. The feeling of approving and disapproving is the principle of knowledge.

    6. ‘Men have these four principles just as they have their four limbs. When men, having these four principles, yet say of themselves that they cannot develop them, they play the thief with themselves, and he who says of his prince that he cannot develop them plays the thief with his prince.

    7. ‘Since all men have these four principles in themselves, let them know to give them all their development and completion, and the issue will be like that of fire which has begun to burn, or that of a spring which has begun to find vent. Let them have their complete development, and they will suffice to love and protect all within the four seas. Let them be denied that development, and they will not suffice for a man to serve his parents with.’
    Unquote: See

    When TDM said he wanted Malays to succeed did he have in mind to do so on the ground that he may gain the favour of the community, or as a ground on which he may seek the praise of the UMNO members so that they would keep him as a party leader. If he has what Mencius said as a normal human being having a mind which cannot see the sufferings of others, then he would not have divided the persons who suffered by race. If he chose only to feel the pains of only one race, then he was not entitled to claim that he had the sense of compassion. Rather he was using the weakness of the suffering publics to advance his political goal.

    A commiserate government cares for people without regards to difference in race, or religious belief. Any preference given to race or religion is playing politics of divide and rule.

    ///2. So willy-nilly we become the instruments of these extremists and their narrow jingoism, to our own detriment. ///– TDM

    Malaysians of all races think that they have equal rights in the country. What the non-Malays objected to but had not the political power to prevent the extremist actions of the BN government was that they are discriminated in their own country. The demands in words, which could at most be termed requests not to be further tortured are said to be extremism. Quite obviously when the person who had the power to act could get irritated with a request not to continue to cause harm to the victims and term them extremists, he was aptly called Malay ultras by Lee Kuan Yew.

    Malays have a saying ‘biar mati anak jangan mati adat’. The Chinese have been pursuing the same sentiment when they want their children to preserve their language and culture. That is termed narrow jingoism because the person had the might to declare so.

    ///3. In Malaysia we are constantly being asked to confront each other on racial issues. Disputes cannot be resolved by rigidity in our stand. But we have to be rigid if we do not want to be vilified. ///– TDM

    It should be correct to say that racial issues are always created by the government which chooses to administer through the principle of discriminating against the minority races. UMNO has not been happy just to remain in power, but they had to create the mindset that it was the birth right of UMNO members to be more equal than others. UMNO does not have to show that they are big bully all the time, but they choose to. Once caught in the act, it becomes a pride for them to stand firm or else they complain that they will be vilified.

    ///4. It is a miracle that this multi-racial country has remained stable and peaceful for so long. If the extremists can have their way we would all be at each others’ throats. We would be demonstrating in the streets and at the airports. If we do not accede to the wishes of the extremists then we cannot even make a living, there will be no investments and no jobs for the workers.///–TDM

    It is indeed a miracle that the non-Malays could have endured the pains of discrimination over the past 40 years, since the advent of NEP. The non-Malays who had the foresight that this country would not change once UMNO had acquired their racist approach to permanent vote banks would not change had long ago left Malaysian shores. That resulted in why this is now a low-income country, and Najib thinks that through magic wand he could turn it around.

    The extremists cultivated by TDM have always had their ways, and that is why this country is at par with Myanmar, and the police in the country are no different from the Myanmar junta. The sorry state the country is in has TDM to thank for, firstly by causing Tunku to resign his post in disgust and then for carrying out the rule as absolute monarch subsequently. His greatest legacy was in his moulding the racist mindset of his followers.

    ///5. Today we are grappling with the problem of education. We have three streams and woe betide anyone who suggests that we should not have them. We talk of liberal society, of free speech, but if you express some commonsensical views you would be labelled racist.///–TDM

    The problems of education in the country is not because we have three streams, but politicians always used it, since the day of Tun Razak as Education minister, to extract a pound of flesh from the Chinese and Indian communities so that the schools could stay. People from the vernacular schools since 60 years ago are paying a high percentage of income tax to national coffers. They have not turned communist as the politicians of the past liked to identify language with ideology.

    Malays ultras resent the apt description of them as racist, when others find themselves no longer free after their speech.

    ///6. Then there is the controversy over the teaching of science and mathematics in English. We curse the person who had proposed this, calling him a betrayer of his mother tongue, of the national language. Then there are those who want to carry out a nationwide strike if the policy is not changed.///–TDM

    One would be smart to leave professional matters to the experts, but others choose to create problems for the successor, because he could do so. Nobody ever question the utility of modern languages including English. People are willing to accept that it pays to have more hours teaching the English language in primary schools. It is the approach on how to improve the standard of English that matters. The policy to improve English language in primary school can stay, and the experts should have been invited to find the best means to do so. But TDM just announced that science and mathematics should be taught in Primary schools, months before he stepped down. It was obvious that while there could be some improvement in the standard of English in primary schools with the change but the achievement would not be commensurate with the efforts put in by the students and the teachers. In the end, the standard of the subject matter declined, and God knows whether the improvement in English language had compensated, making the efforts wasted without net return.

    AAB should have announced the end to the teaching of science and mathematics in English soon after announcing the cancellation of the dual tracks railway line.

    ///7. I am ready to surrender to the extremists, to pay the ransom demanded. What does it matter if the country goes up in flames, if the extremists win the day? What does it matter if the life of our children and their children is blighted? Anything for a quiet life. I want to be a member of the silent majority and just acquiesce. However the habit of a lifetime just refuse to go.///– TDM

    The Ultras of the first generation claims that he would surrender to extremists, peace will be here to stay. But he said his habit of causing trouble has not ended. If he cannot have it, good or bad, you cannot too.

  9. #9 by the reds on Thursday, 28 May 2009 - 4:44 pm

    I strongly believe that the report has been “completely” touched up before it is released for public viewing. Otherwise, would they dare to release for public viewing, I doubt? As such, I think we won’t be able to dig out any “secret” or scandal out of the report.

    Transparency will never genuinely surface under current government! Najib, please do not fool our fellow Malaysians!

  10. #10 by Joshua on Thursday, 28 May 2009 - 4:54 pm

    How to deal with such ‘fishy’ business?

    What is the next step?

    External Auditors are generally not really interested in the quality of the facts presented. It is for the taxpayers to insist that everything is above board. If external auditors are going into all the aspects including suspecting ‘corruption’ and abuse of power, they would never finish any job.

    Sabah Bank – the sole small bank of Sabah-owned losts few hundred millions Ringgit and nothing happened and the accounts were never queried and passed without the desired qualifications.

    I was the only one to raise some pertinent questions at the AGM, but swept under the carpet as usual. The auditors were there – silence all round.

    So would there be any good if a Royal Commission of Inquiry to be held? My 27 Police Reports worth RM30 trillions had gone missing…

  11. #11 by Ipoh Cake House on Thursday, 28 May 2009 - 5:07 pm

    sure i do welcome u to my cake house..and have a cup of tea with me and YB Lim as well..!! Find a way to help all others folks..

    i do agree and like what u said “Off I wish more youngster dare to come up of offer more constructive how to developed this country.”

    somehow i still couldnt get a point from u on taxpayers u know they corrupt an suck all the money..
    *ur taxes paid can built KL tower??..u dont need to be a ‘hero’ to protect by saying that someone sucks all the taxpayers money..
    actually i’m quite furious about our ppl keep on saying they sucks all the taxpayers money..
    we need to appreciate on what we have today in malaysia..just think it deeply about this..
    before cursing others, better think of urself..see the mirror..whether u contibute anything to the country bside always keep on mentioned u paid the tax..
    to be a good citizen, not that way..we need to show our professionalism, accountabilty in order to make our party to perform..
    not to curse others, we can bring ‘them’ to be on the right track to govern a country by showing them our accountability and professionalism in helping the developement of the country ..
    if we r really good, the rakyat will support us automatically..just try to be our best..dont try to show that u r the best by helping us to curse on the suckers..

    friend, just get a coffee and have a cake here and think deeply..

  12. #12 by yhsiew on Thursday, 28 May 2009 - 5:20 pm

    I will not believe the PWC report – it will not reflect what had actually transpired.

  13. #13 by gofortruth on Thursday, 28 May 2009 - 5:48 pm

    They said they needed legal advice before granting PwC indemnity and that took much time. But do you honestly think PwC would have taken up the audit assignment without first obtaining such indemnity??????????? PwC is not just a small audit firm in the back lane but reputable international audit giant.

    Our public perception can only be that there must have been a lot of arm twisting & bargaining to “re touch” the report. Its ‘hot from the oven’ original version would have provided indisputable legal grounds to put many VIPs behind bars!!!!!

    It goes to show all the huha & ding dongs in delaying the audit findings from being made public how desperate some “people” are!

  14. #14 by taiking on Thursday, 28 May 2009 - 6:11 pm

    Aiyah soi tai chi mah. Small matter only. Never mind. Never mind. 4.6b ah? There are 25m malaysians. Dont forget. 25m people. Meaning hoh only about 200 ringgit one person. Small matter. Dont bother umno. Dont bother najib. Eveyone hoh go home today and sweep under carpet. There. Like that problem will go away.

  15. #15 by waterfrontcoolie on Thursday, 28 May 2009 - 6:13 pm

    I am wondering if it isn’t too late, the blokes responsible had all quitted. Sometimes, I think people can only hit a guy who is more open. This issue should have been bitten by a pitch bull 10 years ago! But that would be impossible b’cos Firaun would have had sent many to Kamunting!! having seen the development of this report, I am just wondering as to why we all hit so hard at a guy not totally accountable for all the wrong doings??

  16. #16 by taiking on Thursday, 28 May 2009 - 6:15 pm

    And speaking of responsibility, ex president Roh of Korea committed suicide over an alleged connection with a corruption case involving US6m. Investigation is still ongoing. That means the case is nothing more than a mere suspicion only. Yet he decided to face the allegation like a man.

    In malaysia, all those responsible will just be transferred to another equally lucrative department or glc etc etc.

  17. #17 by chengho on Thursday, 28 May 2009 - 6:36 pm

    uncle LKS,
    from your twitter you got the report , i shall wait for your comment…

  18. #18 by All For The Road on Thursday, 28 May 2009 - 6:49 pm

    The PwC report on the PKFZ scandal must have been watered down to put the government in good light. Imagine the number of times the report has been postponed! Can the people be hoodwinked?

  19. #19 by Onlooker Politics on Thursday, 28 May 2009 - 7:00 pm

    For those who clearly stated that they had no confidence in the released PWC report and suspected that the report had already been touched up, I wish to advise that no one should ever expect too much from an audit report prepared by an external auditor.

    There is a cliche saying that accounting is just like a girl in bikini — the part that you can see is interesting, but the part that you cannot see is usually the most fascinating! I believe that the external auditor was only able to see the interesting part only but the most fascinating part would always be covered up by the insiders.

    Anyway, if the audit report is able to make some recommendations for improvement in the corporate governance or the government governance, then it should be deemed to have already fulfilled the professional requirement of the assigned duty of the external auditor. The additional follow-up job for action taking is still dependent on the initiative of PKA Director, MACC and the BN Cabinet.

  20. #20 by jules on Thursday, 28 May 2009 - 7:02 pm

    Question # 6 :

    Where are those displaced people now whose lands had been acquired in such underhanded manners ?

  21. #21 by ALLAN THAM on Thursday, 28 May 2009 - 7:30 pm

    One interesting point about KDSB was that before the issue of bond of 4.6 billions there was already charges of closed to 862 million way back before this evil project PKFZ. After the issue of the 4.6 billion bond and guaranteed by Ministry of Transport, the 862 million charges have been fully satisfied?

    Dear folks! I am not an expert on this kind of bond issue but did know there are certain conditions attract on it such as the money raised must be for specific used?

    Please also being reminded that whether PKFZ go burst or other wise the turnkey contract has make 55 millions in the last two years ended 31.12.2007, and dividend of the same amount also declared. Well, many people still look at the micro side and did not consider the macro side. They confused how sure am our money have been suck by them as there are still bigger projects aroung like KLCC and the unutlised Putra Jaya Mega Town shop. so these people still believe that as far as these project are that, there is no issue if PKFZ just go burst and have nothing to do with our tax payer money.

    Please think about it, we are talking of billions and billions? If this Project can waste such a huge sum, where the money come from?

    The sucker have to bee be cursed even though I know there is nothing constructive about but I just can help anyway by cursing them I feel better and can think better.

    MCA has no hope in Malaysia. Once again they just team up with all these suckers and keep conceptualized tis evil project to suck not just your bllod but your bone too.

  22. #22 by Onlooker Politics on Thursday, 28 May 2009 - 7:32 pm

    “3. The Transport Minister had unlawfully issued four Letters of Support to Kuala Dimensi Sdn. Bhd (KDSB), the PKFZ turnkey contractor — to raise RM4 billion bonds, which were regarded as government guarantees by the market. The Transport Minister had no such powers to issue financial guarantees committing the government, as it could only be issued by the Finance Minister and only after Cabinet approval.” (Lim Kit Siang)

    In the Bond issuance and purchase deal, I wonder which investment managers or which merchant bankers would be so negligent in such an investment decision by failing to find out that the Letters of Support from the Transport Minister of Malaysia had no legal binding if the Letters of Support did not clearly mention that the Federal Government of Malaysia would undertake the risk of paying the debt on behalf of KDSB in the event that KDSB failed in its legal and financial obligation to redeem the Bond at the maturity date.

    If the Letters of Support from the Transport Minister did clearly make a promise to take over the financial obligation to pay back the debt on behalf of KDSB, the investment managers or the merchant bankers should at least try to make sure that the Transport Minister had been duly delegated with the power by the Government Cabinet of Malaysia for the issuance of the Letters of Support. Otherwise, the investment managers or the merchant bankers who had bought the bond issued by KDSB had done a grave disservice to their respective clients, their corporate shareholders and the retail investors of the KDSB Bond.

    If the former Government Cabinet of Barisan Nasional did really authorise the Transport Minister to sign Letters of Support for KDSB’s Bond Issuance, then the legal and moral responsibility of the Cabinet’s decision should be traced back to either Dr. Mahathir or Pak Lah. Otherwise, Dr. Ling Leong Sik would have to be held responsible and be answerable to the abuse of official power as a Transport Minister!

  23. #23 by ALLAN THAM on Thursday, 28 May 2009 - 7:47 pm

    Reading some high light from PWC’s report made you vomit ? suppose to be BLOOD but no more blood as all the blood have been suck by the MCA SUCKERS.

    PKA was force to pay interest to KDSB because PKA has no money to paid KDSB as per schedule of payments? How ridiculous? This was just the same tune with PLUS? If you as the master do not agreed on the rate increase pay compensation. Now we have a case here where PKA has committed to pay KDSB for certain sum on the fixed schedule if not interest at 7%? PKA being under MOT just committed any thing as the money was from the tax payers. Now who is KDSB? All the owners are high profiles some remain in the parliament some has since retired.

    Good heaven, Why have this billion project? Greed? Sooner or later there will be short of place in the HELL OF NO RETURN. Too many are queuing to enter this HELL OF NO RETURN!!!

  24. #24 by Onlooker Politics on Thursday, 28 May 2009 - 7:48 pm

    On the part of the Bond purchasers of KDSB Bond, I wonder why the purchasers would permit KDSB to declare dividend without trying to take the legal action of applying for court injunction on the dividend payout. If KDSB failed to establish a sinking fund and failed to comply with the requirement of the International Financial Accounting Standards by depositing a fixed amount of the amortized portion of the Bond into the sinking fund which would be entrusted to a trustee banker, then the Managing Director and the Executive Director of KDSB could actually be prosecuted by the Commercial Crime Department of PDRM for criminal breach of trust (CBT).

    Since the Police Officers of Commercial Crime Department of PDRM have been so keen and so hardworking in order to trace and detect the suspected cases of the alleged misuse of internet, will the same Police Officers be also keen and diligent in the attempt to find out whether there is any criminal offence being committed by anybody in KDSB? Those goons in the Commercial Crime Department of PDRM please show that you are really a man, and not just a timid sissy guy who only dares to pick up some innocent internet users in order to find trouble on them for purpose of monetary extortion!

  25. #25 by ALLAN THAM on Thursday, 28 May 2009 - 8:13 pm

    “We need now to seriously act on the findings of the report to make sure that the interest of the people are fully protected and that this government walks the talk,” said Ong in his latest blog posting.

    I say Ong you better do some thing about this PKFZ, other wise you are in debt with all Malaysian and you will also one the one queuing to enter the HELL OF NO RETURN, which you strongly believe in.

  26. #26 by donplaypuks on Thursday, 28 May 2009 - 8:27 pm


    The taxpayer must not be lumbered with this utter waste of money. If it’s necessary to bankrupt a politician or 10, let it be so, and let PKFZ file for the equivalent of Chapter 11 in the USA.

    It will rank as the biggest fraud ever perpetrated on the taxpayers of M’sia. Make sure heads roll !!

  27. #27 by boh-liao on Thursday, 28 May 2009 - 9:57 pm

    The PKFZ is not a scandal
    It is a cash cow’s udder
    For retiring ministers’ pleasure
    to squeeze n squeeeeze n squeeeeeeeeeeze

    Now EC chief said ‘No more deaths please’
    Why not?
    1Malaysia demands more BN MPs to die pleassssssssse
    Thank you, BN MPs, more valuable dead than alive

  28. #28 by House Victim on Thursday, 28 May 2009 - 10:10 pm

    Whatever it can be dug out, it will only come to more points under MALAYSIAN JOKES!When Police and judiciary system do not work!

    Even Auditor General in many of his annual reports pointing out to many loopholes involving BILLIONS? PM and those responsible Ministers had just ignored!

    When the Accounting Association or Society cannot even admit that an “audited account” of a Condo presented under a non-registered body is invalid when all charges or payments were through the Developer bank’s account, the door of ROTS already started from there – the account & auditing “professional”!

    When a Condominium project (Wangsa Baiduri) can be started from part of a Water Retention pond for the whole Subang Jaya with illegal land alienation of part of Water retention pond to PKNS before 1984, the Land Department already ROT! This continues with the issue of the rest of the Water Retention Pond (designated as Town Park) with a Private Title to SIMP UEP in 1987 (about). The Club house of Wangsa Baiduri land was transferred to a sister company of the Developer. The Condo units were issued with Apartment titles after some “condo” land was silently converted into Apartment Land and the Land Office refused to provided tracks for years.
    The ROTS of Housing Ministry can be found when the Wangsa Baiduri project was allowed to continue with the land for the Club house to qualify the project as “Condo” was transferred to the above 3rd party in 1987 and kept an eye closed for the Developer to market Condo even without a Sales and Advertising permit and non-standard S&P. Yet, MPPJ/MPSJ continued to allow the project to be marketed as Condo with manipulation of Common Areas, much out of quota in units!
    The Condo is now under a MC elected without a list of registered proprietor and non-registered proprietors were voting and elected as Council Members during the First AGM and manipulating the administration.
    All related authorities had been complained, including the existing State Administration and State Assemblyman/person, NOTHING WAS DONE!



    The Wangsa Baidiri should not be there! -a billion project!
    The Subang Ria Park and the new Subang MC car car park in under the Public land for Town Park!
    The new commercial building in SS15 and the the Subang Plaza are green land or reserved land for SS15.
    The building opposite Care-four are green land as Divider from Federal High Way!

    Every Subang Jaya resident has a saying. But, even USJ “residents” came to fight for the acquisition of Subang Ria Park to make it gazette as Town Park!
    When Rights or Fairness is not in the daily live of those Malaysian concerned. But, allowing anyone who can manipulate to come to “worm” without any means of warning or penalty. The rots in Subang alone already go for the last >30 years!

    IF CKC on manipulating the “authorization” letter and other key suspects cannot be locked up or suspended subject to further investigation and their asset frozen, any further digging is a waste of time.

    Land, Oil, concessionary and those 20 (or about) semi-private Corporation not accountable even by the Audit-General are the major cause of corruption!

    If a Condo of 100-200 owners cannot run properly with complaints to all authority concern and are manipulated by a few law-breakers, who can help to stop the ROTS of the ENTIRE NATION?????

  29. #29 by ocassey on Thursday, 28 May 2009 - 11:35 pm

    I thought I saw KOREK-KOREK visiting PwC some months ago . KOREK-KOREK didn’t go there to borrow (the loo). He paid professional call on the peoples in the inner circle. He is master wizard willybillier, can get any one out of a pool of quicksand.He can even pull one out of the middle of a spinning cyclone,so,PKFZ external auditer’s report,is kacang putih, “fong sarm,Moh se, MMMsai kieng,Ngoh woee kautim!!! ” I thought I saw Locobun with a videocam at the vicinity, too!!! Mr Locobun, did you get a closeup of the front of KOREK-KOREK’s face ???? Oh, you also manage to record him speaking KUONGTOONGWAH !!!

  30. #30 by distantmalay on Thursday, 28 May 2009 - 11:58 pm

    “EC chief: No more deaths please.” (Malaysiakini)

    this is a request by the EC, please obey.
    if you’re dying tomorrow, don’t!
    kindly postpone your deaths.

  31. #31 by boh-liao on Friday, 29 May 2009 - 2:05 am

    No, you need polis permit to die
    If die without permission
    mata-mata will tangkap you, fine you

  32. #32 by frankyapp on Friday, 29 May 2009 - 7:21 am

    Hey guys,how you doin ? When I arrived in the US,most people I met and they asked me “how’s your PM doin ?” My answer was he’s fine and I asked why you guys are interested in my Prime Minister and you know what’s the response from the americans. It’s Atantuya murder that’s interest them.Some directly asked me whether the PM was involved. I felt uneasy and ambarased and in the interest of our country I had to deny our PM involvement. I think our new FM had made a huge mistake when he intented to clear NR’s name during his recent visit to washington DC. The new FM has in fact cost great damage not only to his boss but also to our country Malaysia.

  33. #33 by k1980 on Friday, 29 May 2009 - 7:36 am

    Will they get away scott free?

    A deputy minister and assemblyman were found by auditors to be possibly in a conflict of interest over their involvement in the Port Klang Free Zone (PKFZ) project. The PricewaterhouseCoopers audit report on the PKFZ today revealed that Deputy Finance Minister Datuk Chor Chee Heung was both non-executive deputy chairman of Wijaya Baru Global Berhad (WBGB) and chairman of Port Klang Authority (PKA) in 2007. WBGB is linked to PKFZ’s main developer Kuala Dimensi Sdn Bhd (KDSB) via a common shareholder and director — BN Backbenchers’ Club chairman Datuk Seri Tiong King Sing.

    The report said when the final account for the RM1.2 billion construction work carried out by KDSB between 2004 and 2006 was approved by the PKA board, Chor neither declared his previous involvement in WBGB nor withdrew himself from deliberations.

    Also named in the report was Sementa assemblyman Datuk Abdul Rahman Palil, who was both the Pulau Lumut Development Cooperative (KPPL) president and a PKA director in 2002 when the land for PKFZ was sold by KPPL to PKA.

  34. #34 by ALLAN THAM on Friday, 29 May 2009 - 7:45 am

    It was reported in the Sun paper that: KDSB may have over charged PKA for interest between RM51 milliion and RM309 million in connection with the purchase of the land and the PWC has informed the PKA management to refer the matter for legal advise”

    This was another blatant mismanagement. Can you imagine that if this was found to true. This could be also the attitude that since the money does not belong to me, who care. They can charge whatever they going to charge! Where is the internal control?

  35. #35 by Godfather on Friday, 29 May 2009 - 8:11 am

    Pointing out conflicts of interest won’t help the taxpayers. Bolehland has a history of blatant conflicts of interest that went unpunished – the Fat Lady sat in a meeting where shares were allocated to her son-in-law many years ago, and no action was ever taken against her.

    The government has to form a royal commission of inquiry to ascertain the flow of money, especially as three political parties were involved – MCA, UMNO and SUPP. Knowing the purpose of this fundraising exercise, I doubt that the government will want to do anything beyond the usual wayang kulit.

  36. #36 by negarawan on Friday, 29 May 2009 - 8:47 am

    The released report is not the original version. Many crucial information have been omitted.

  37. #37 by boh-liao on Friday, 29 May 2009 - 8:56 am

    What’s this BBC Tiong KS’s share
    in this PKFZ scandal?
    The one who very generously sponsored BN MPs
    to Taiwan recently to learn about agrobiotech

  38. #38 by Thinking Two on Friday, 29 May 2009 - 9:02 am

    1. Go and demand the Auditor to make a Statutory Declaration that it is the orignal version.

    2. There are many staffs from the audit firm conducted their works in this report and anyone would be suffice to render this report’s authencity.

  39. #39 by ALLAN THAM on Friday, 29 May 2009 - 9:26 am

    EXCEPT FOR PKFZ running into huge losses and expecting to go burst by 2010 if MOT done nothing on the loans, the following players in this scandal has make handsome profits;-
    KDSB made 26 million after tax and declared dividend 25 million in 31.12.2006,
    It also made another RM30 million and declared RM35 million as dividend.
    Tiong indirectly held 70% in KDSB. Wonderful!!
    WIJAYA BARU GLOBAL BERHAD ( WBGB) Where Chor, the Alor Star MP,( Alor Star folks please remember this when you wish to cast your vote again to him) was the non executive chairman from April 2004 to July 2007, made the following profit:-
    2006: Revenue RM55 M, profit before tax RM24,460,000 to 24% , this was not gross profit margin, but margin after all expenses. Wonderful margin)
    Interesting point, in 2006 profit after tax was higher RM26,974,000. How to explain this? May be due to tax over paid in prior years?
    Dividend declared was RM7,152,000. No bad too.
    2007: revenue was RM66,742,000, Profit before tax RM11,866,000 , Profit after tax RM10,211,000, dividend paid RM4,834,000
    What happen to PKA? Make any profit? Ai ya Ah kong company sure make loss lah.
    The above information cab be found by online search on SSM by paying RM15 per search

  40. #40 by k1980 on Friday, 29 May 2009 - 10:18 am

    And the macc is going after the Selangor MB’s personal car and cow, instead of the PKFZ crooks named in the PricewaterhouseCoopers audit report

  41. #41 by ALLAN THAM on Friday, 29 May 2009 - 10:28 am

    I am a keen follower of this PKFZ project. Way back some years ago, Mr Nades from the Sun paper has written extensively and provide many pointers fo the then ACA to act. But as usual the progress was snail speed, not like Aminah case where the now MACC strike like lightening to commence its investigations.
    I have no quarrel with ACA or MACC what ever you want to call and what ever they want to name, again this is my perception and I also believe this is the public perception, that ACA/MACC will only act provide there is some one above direct them to do so.
    So the question is why now only serious on PKFZ? Was it not enough when Mr. Nades has written about it in the Sun paper start immediate investigations and not only so to make decisive and strike it like lightning speed so that public money can be safe guarded? Are this is one of the duty of the MACC which is funded by the tax payers money?
    Any way, we always believe it is better to be late rather then nothing. Well say, but will there be prompt results and prompt actions as it is seem what MACC need to do was purely verification on the PWC reports, which I believe this report was not cheap, PWC FEE could be come to thousands and thousands if not millions. Can be expect MACC to make full use of this report and use their power to recommend prosecution?
    To the tax payers, the damaged have been done. The costs was high and the scary thing is one this project start it will not end here as the commitment in the interest costs is slowly and surely milk our money until the last drop. No wonder Islam financial theory make interest haram, now we see it.
    Many still hopeful and ask to recommend way to revive this hantu project. May be I suggest the project turn into world class cemetery with world class feng shui looking forward to the vast seas front. May be this was more viable. PKA should consult NV to do a feasibility studies and turn this ghost land into reality?

  42. #42 by ALLAN THAM on Friday, 29 May 2009 - 10:51 am

    I have no doubt since day one, this project was BN allocation to MCA to fund their retirement? BN was formed on power sharing and not only that they also on money sharing. You take this and I take this sort of thing. When the party’s coffer dry out, some full time think tank start to create and conceptualized all evil and as evil as possible projects to milk the tax payers moneys to channels. This PKFZ was one under MCA ministry and since normally they have no many chances come by, but one will enough for them. They do it big and biggest ever. Do you know that the rot head who has a hand on it has retired and enjoy his whiskey daily. If the cemetery proposal turn into rality, one big lot should reserve to this MCA great and of course the next will be AS MP.

  43. #43 by Loh on Friday, 29 May 2009 - 11:13 am

    Sorry, off-topic
    ///EC chief: No more deaths please
    Ng Ling Fong | May 28, 09 1:43pm

    The by-election-weary EC chief Abdul Aziz Yusof calls on political parties to field candidates of sound health and hopes that no more deaths will occur///– Malaysiakini

    But death gives the Election Commision no chance to deny that vacancy exists. Had the three kataks’ constitutencies had the same fortune, the Perak impasse would have been solved long ago.

    But the Elction Commision whether on its own or under instruction chose to take the responibility to verify the vacancy through the legally authorised party to seizing to as authority to serve the boss, and thus only death can prevent EC from messing around.

  44. #44 by boh-liao on Friday, 29 May 2009 - 11:44 am

    MACC – simple minds can only tackle simple maths
    Cars & cows OK lah can count with fingers & two hands
    Add more pun boleh cos still got two feet
    But PKFZ scandal lain cerita
    Astronomical figures too many zeros to fathom
    MACC kepala pusing, pass, no investigation

  45. #45 by Loh on Friday, 29 May 2009 - 12:56 pm

    Sorry, off-topic

    Chin Peng signed the agreement with the government which allowed him to return to Malaysia, within a year. Had Chin Peng returned then according to Najib’s argument the people who felt uneasy of his return would have suffered right from 1989 (?) instead of starting now in 2009, 20 years later. Those who died during this period had been spared the pain at having Chen Peng living in the country had he returned in time. The argument Najib advanced now was equally relevant when the government signed that peace agreement with Chen Peng at that time. Is Najib telling us that the government was wrong then, or is he telling us that BN under UMNO had no intention to honour agreements on selective basis? The social contract though unwritten was not honoured by UMNO, so the refusal by Najib is in keeping with the lack of trustworthiness of UMNO leaders.

    Rais Yatim said that because the history did not detail the atrocities of communists people show support for the return of Chen Peng. A person who was with Semagat 46 had some reputation, but since going back to government he has squandered whatever left of a PhD holder of his ability to reason.

    On the ground that it was government agreement to allow Chen Peng to return, the people see no harm of him taking up the offer, though 20 years too late. Whether Chen Peng did anything which would make his return unwelcomed is not in the equation, and Rais Yatim should not have even considered the use of distorted history to achieve the aim of supporting Najib in his decision making.

    Since distorting history had been in the mind of Rais Yatim when the question of Chen Peng is raised, is it the intention of the government to write history to support UMNO as the sole defender against colonist? Is it also UMNO’s intention to justify that Malaya belongs to Malays because people of other communities never featured in Malayan history before independence. So UMNO wants people to believe that non-Malays came to Malaysia as pendatang after independence, like Khir Toyol.

    There are other sinister motives residing in Najib’s mind, and Rais Yatim either as mind-reader of Najib, or an extremist himself even advanced the hope that history could have been sufficiently distorted, not that it had not been manipulated already.

  46. #46 by Godfather on Friday, 29 May 2009 - 1:11 pm

    There’s another document which was not sighted by PwC – the letter signed by Minister of Finance to the bondholders confirming that the letters of support issued by the Minister of Transport were valid and binding on the government. Presumably asking for this letter would be outside of the scope of the PwC mandate but it would go a long way to understand why this is a BN conspiracy, and not just the MCA acting for the retirement plans of its leadership.

    The letter from the MOF explains why the bonds were rated AAA – the highest possible ranking. This letter also explains why the bondholders could not care less about putting restrictions on KDSB.

    Ultimately this is about UMNO, MCA and SUPP defrauding the taxpayers with a hare-brained scheme. Would Azim, Ling Liong Sik, Chan Kong Choy and Tiong King Sing be asked about their roles in this deal and how much money they personally gained ? I don’t think so. Instead they have put this report to the MACC – which is the famous black hole, where matter is so dense that not even light can be allowed to escape.

    Such a fitting finale to this sorry tale. If this is not enough to persuade voters to abandon BN, I don’t know what will.

  47. #47 by Onlooker Politics on Friday, 29 May 2009 - 1:56 pm

    Chin Peng’s application for returning to Malaysia, as mentioned by Loh in this blog’s comment section, may be a sensitive issue for YB Kit to discuss openly and publicly because some Malay extremists will tend to accuse DAP as pro-communism if DAP has to say something in favour of Chin Peng.

    I wish to comment Chin Peng’s case from the religious point of view. On 12.12.1989 the representative of the Federal Government of Malaysia, the former Deputy IGP Tan Sri Rahim Nor, signed a peace treaty with the Secretary-General of Malayan Communist Party (MCP), Chin Peng. MCP members agreed to give up their political struggle through the means of violence and they agreed to surrender all their fire arms to the Military Force of Thailand in the joint supervision with the Police Force of Malaysia. These acts from the part of MCP were viewed by many analysts as the MCP members’ declaring surrender to both the Thai Government Authority as well as the Malaysian Government Authority because MCP Secretary-General on behalf of MCP agreeing to dissolve the MCP as a political party. As the terms and conditions in the peace treaty, the Thai Government agreed to allocate a piece of lands near Malaysia-Thai border situated within the boundary of Thailand for the home building of ex MCP members and the Malaysian Government as represented by Tan Sri Rahim Nor agreed to grant the ex MCP members the chance of returning home to Malaysia and live peacfully as a common citizen.

    Based on the peace treaty, the civil war between the MCP and the Malaysian Armed Forces and Police Forces had already become a past history. We should not allow some feelings of unforgiveness and irrational hatred of some members of the Association of Retired Members of Armed Forces and Police Force to continue dominate our preoccupation on the historical event of the civil war due to ideological differences. In any warfare, it would be difficult to avoid possible casualty or death on any party who took part in the war. Why should we be wasting much time to bog ourselves down with the tragic past and to hinder our peaceful path for future human development? The Malaysian people should learn to be much more forward-looking, and not to insist that the one who had wronged us must always be punished.

    The religion we try to uphold does not teach us to punish but it teaches us to forgive. The willingness and readiness to forgive other people’s sins and the ability to dispense grace to the sinners are the basis of justification and the prequisite for us to ask for the forgiveness of God based on the wonderful grace and loving-kindness of our merciful God. If Chin Peng had chosen to surrender his weapon and to give up struggle by means of violence, he had already shown a great repentance in the eyes of God, even if he did not explicitly express his believing in God. Why should we continue to insist that an old man who is in his age of 86 years must be punished no matter what for the wrong he had committed during his youthful era? What kind of useful message does people such as the sour and bitter members of the family of the civil war casualties and the learned men like Rais Yatim and Najib try to convey to the public by saying that a repented man such as Chin Peng should not be allowed to return to his home town in Perak, which is of personal remembrance and emotional value to Chin Peng?

  48. #48 by ALLAN THAM on Friday, 29 May 2009 - 2:01 pm

    Who say Malaysia has no money? Malaysia has abundant resources both human and natural. Oil has generated much revenue, the hard working lots and the business acumen lots make up mainly the Chinese ethic group, have contribute greatly to Malaysia.
    This is why time and time again we can effort to lose billions and billions in scandalous projects. This is the reason why the crook politician who has the power to manage the people money always at the look out to create and conceptualized evil motive projects to milk the tax payer money for their own benefits. How much damaged Malaysian can stand, if this PKFZ is not enough? How much money can we effort to lose before there is a change in PutraJaya?
    Please remember that PKFZ will not end here, each day the interest is running and it is going to costs the tax payers each day until the committed sum has been fully settled in full. Mind you what you are paying now will go part of it to foot this project who as of today has only 14% occupancy? The more you think of the main pain you have and it bleed your heart and soul. Yes, the hard working lots of Malaysian, you work hard and you pay your taxes and it end up that way!
    Yet, they are still doubtful that and question how sure am I the tax payers go to fund this PKFZ? Simply because the argument go, KLCC still stand Tall by today?
    Do not be an idiot, do not still believe in MCA represent you, the majority tax payers who has funded this ghost project! No matter how little you have paid as taxes you are contributing to this ghost project.
    Yes, what curse now? Offer some constructive ideal how to make PKFZ viable etc? Who on earth in the right frame of mind still can believe in the viability of this project simply in the very first day, it has conceptualized to milk your money. The reason that the land was purchase at RM25 per sq ft instead compulsory acquisition was the CLEAR indication, PKA put the cronies interest as the upmost consideration and not the viability of the project.
    Full of shit and yet some people still think this project is viable? If you lose further it already a bonus to you. Worst to come! And the costs is running, the interest costs is running by second, by the minutes and by days. Think of it, each RM that you earn now and there fore the portion that you pay up as taxes is used to fund this interest costs and it is for non of your benefits but the cronies?
    May be once should take the advise, if you do not like this country please go back to the country where you come from or where your forefather come from.

  49. #49 by taiking on Friday, 29 May 2009 - 2:16 pm

    Stupid MCA. Without disclosing the letter from Min Fin which endorsed the bond issue (see Godfather’s posting above), people would be left with the impression that the bug (at least on the bond issue) stops at MCA’s doorstep. Again the useless MCA is bullied into eating cat carcass whereas some others get to eat juicy and nicely marinated roasted meat.

    Report Card.

    PKFZ: F
    Perak: F
    Court: F
    Police: F
    Macc: F
    1malaysia: F
    Performance Now: F
    People’s First: F
    Human Rights: F
    Economy: F

    OMG, we are truly fu.ked arent we?

  50. #50 by siamo on Friday, 29 May 2009 - 2:23 pm

    What is the difference between 1) Abdullah CD and Rashid Mydin and 2) Chin Peng.

    From my perspective, if 1) can be allowed to return to Malaysia, why not Chin Peng? Asking the question directly, “Is it because he is ethnic Chinese?

    Other than that, I cannot see any difference?

  51. #51 by k1980 on Friday, 29 May 2009 - 2:29 pm

    Report Card (Latest Reappraisal)

    Authoritarianism: AAA+++
    Corruption: AAA+++
    Cronyism: AAA+++
    Racist Discrimination: AAA+++
    PKTZ-Z: Z-
    Perak: Z-
    Judiciary: Z-
    Police: Z-
    Macc: Z-
    EC: Z-
    1malaysia: Z-
    Performance Now: Z-
    People’s First: Z-
    Human Rights: Z-
    Economy: Z-

  52. #52 by siamo on Friday, 29 May 2009 - 2:38 pm

    On PKFZ matter, credit must be given to where credit is due. I believe Ong Tea Keat has been up against all many odds and vested interest not to release the report. I am sure he has taken a lot of beating when the push for the report to be released. One must express appreciation for that.

    It is good that we have this report. A RM1B project is now expected to explode to RM12B? How could that have happened? The PWC report is not good enough. There must be a national enquiry on this. As we know well, PWC is an private accounting firm and it has a lot of disclaimers of what they said. They have explain the situation but I am sure the detail background needs further investigation and the stake holders who have breach the law and their fiduciary duties must be brought to book.

    Ong Tea Keat has shown courage. Now, it is time for Najib to show even more courage to bring to book people, some of whom may be within his own party and the ruling coalition.

    The PKFZ affair “Klangate” should be an eye opener to those are staunchly blindly loyal supporters of UMNO and BN of how the powers vested in them can be abused so blatantly, to fatten themselves. The difference of RM11B can mean a lot of difference to the welfare of ordinary Malaysian. Imagine the kind of hospitals we can have, the schools, roads, public library. If this cannot open the eyes of these people, Malaysia’s future is gone. It is time we have alternative, an alternative government.

    This is also yet another opportunity for the MACC to show if it will act independently or is just another extended organ of the BN. It remains to be be seen if there is any tinge left of Abdullah’s legacy.

  53. #53 by ALLAN THAM on Friday, 29 May 2009 - 2:39 pm

    “Everyone should learn from the mistakes which occurred in the shortcomings here and prevent a repetition of the same anomalies in the future. From the lessons here, Malaysians have to move forward,” said Lee Wei Kiat
    This is just a Public Relation stereo type of announcement. Move forward and forget what has happen?
    Sure people will walk by moving forward ! Learn from the mistakes? I doubt about it? If Malaysian politician want to learn from mistake they have long graduated with PHD, instead after so many painful lessons still at the kindergarten level of learn from mistake, learn from mistake!
    We are taking about billions of RM here and the amount has not stop here and it is on going if the PROJECT achieve an increase in its occupancy rate.
    This scary, right? We are not talking of just a loss of billion and story end, we are talking of the costs still running and it dose not seem to end as yet?
    Who should we ask to move forward? Are asking the people not to border too much on what has happened and move forward to make more money to foot the interest bills?
    Yes, we demand brought those to the be charged! Those people who have we trusted them with the fiduciary duties of managed the people money to be charge. Not lesser than that can we say to have learned the lesson. Anything lesser than that is just another Public Relation jobs to clam the public and yes, move forward and wait for another scandal to come. The return of the evil force.
    My last question? Do we hard working Malaysian reserve it???

  54. #54 by Godfather on Friday, 29 May 2009 - 2:41 pm

    Did you see the picture of a smiling Lee Hwa Beng handing over the PwC report to the MACC representative ? It was like a photo-op for a prize-giving ceremony ! I think Ah Beng was thinking that they could not have passed the buck to a better bunch of morons.

  55. #55 by Godfather on Friday, 29 May 2009 - 2:55 pm

    The PKFZ deal is the best case study for Ali Baba business relationships. You have Selangor UMNO people involved in selling the land, you have a Sarawakian MP involved in developing the land, and he brought in the UMNO treasurer as his chairman. Then you have the MCA transport minister approving the financing with his nominee in charge of the Port Klang Authority.

    Kit is asking for those named in the report to be charged. That’s unlikely. Even if you have a royal commission of inquiry, the answers given will be similar to those given at the Lingamgate inquiry – “I don’t remember” and then everything will be swept under the carpet. The Ali Baba characters will still be enjoying their wealth in Australia and the UK.

  56. #56 by limkamput on Friday, 29 May 2009 - 2:58 pm

    I have not read the report, but dare say it will be a waste of time. Like all reports, this report is yet another ingenious way to apportion blame to people who don’t really matter. All roads lead to Rome, if you know what I mean. It is an insult to the intelligence of Malaysians a few insignificant fellows mentioned in the report could amass so much power to make mega decisions. Wise up lah.

  57. #57 by madmix on Friday, 29 May 2009 - 3:03 pm

    Ho Hum!
    July 31, 2009: MACC boss says investigation finished. No wrong doing; every character named given stamp of clearance by MACC.
    August 12, 2009: Sarawak MP says he will sue PWC for defamation.
    September 15, 2009: new contract given to new company to handle mess.

  58. #58 by Thinking Two on Friday, 29 May 2009 - 3:07 pm

    If the so-called REPORT is the original version and cover all the aspects of the PKFZ, the Auditor would not have seek for an Indemnity from all kind of accusations or prosecutions!!!!

  59. #59 by Thinking Two on Friday, 29 May 2009 - 3:10 pm

    What happened to the PKFZ’s statutory auditors?

    This auditor is not doing the jobs as required.

  60. #60 by Thinking Two on Friday, 29 May 2009 - 3:14 pm

    This PKFZ is should be in insolvency long time ago!

    This company not only lost all its share capital invested therein but also owing to others more than what they have invested.

  61. #61 by 9to5 on Friday, 29 May 2009 - 3:20 pm

    PKFZ report handed to MACC: But after that what happens?

    After that NOTHING WILL HAPPEN because:

    1. MACC does not have the political resolve to handle the case as it is beholden to the powers that be.

    And even if we assume that it has the political resolve to move on to tackle the case:

    2. MACC does not have the capability to handle such a case involving financial shuffling and money laundry through complicated, multi-tier company organisations some of which may ultimately end up in foreign countries which still have secrecy laws. These needs experienced forensic accountants which MACC does not have!

  62. #62 by limkamput on Friday, 29 May 2009 - 3:24 pm

    Sometimes I just wish that the less the government do, the better. Almost every damn thing they do, it must lead to cost overrun, corruption and white elephants. Please just collect less taxes from the rakyat. You can keep the stimulus packages. I think the rakyat must be made to realise that stimulus packages will lead to mega wastages, corruption, white elephants and enriching the cronies. Please just stop it. Let the economy goes into recession, it is ok.

  63. #63 by ctc537 on Friday, 29 May 2009 - 3:32 pm

    Those who plunder the country’s wealth, involve in corruption, glaring abuse the power entrusted to them are the real UNPATRIOTIC Malaysians. They have committed so much sin, and I wonder how are they going to face their Creator.

  64. #64 by ALLAN THAM on Friday, 29 May 2009 - 3:46 pm

    DAP has suggest PKFZ to closed shop.

    This was the definite a good suggestion. For that matter I have worry on the on going interest charges that PKA have to keep paying the crooks. It will be better to let PKFZ to go burst and cut costs, other wise it will be no ending.

    Alternatively as I suggest before call NV conduct its feasibility to convert it into burial ground for all Malaysian to enjoy a good resting ground?

  65. #65 by Joshua on Friday, 29 May 2009 - 4:17 pm

    Bank Negara Malaysia’s Statement of Assets and Liabilities

    From RM502 billion on 30 May 2008 to RM344 billion in Mar 2009, where has all the money gone?

    Joshua Kong RM502 billions 30 May 2008 RM344 billions 13 Mar 2009

  66. #66 by bebe on Friday, 29 May 2009 - 5:22 pm

    My Dear Allan Tham,

    I salute You. U r such a good imaginative human being….Having a lively imagination, especially a creative imagination. On the PKFZ issue itself, u r able to ‘generate’/ create such a fanciful story….

    Wat u have done for the sake of rakyat other than juz criticizing in this small space….U juz know how to condemn others on such an issue n giving ur own ‘valuable’ prediction, ideas n opinions!!!

    Why you cant stop from all this kind of criticizing n really do sumthing which is good for our beloved country! Why muz u always treat this kind of critic as your hobby n not doin sumthing which is good for ur self-advancement

    Im not a supporter of DAP or BN, im juz giving my own opinions as a outsider n hope that our country will progress better even excellent in the near future

  67. #67 by Loh on Friday, 29 May 2009 - 5:35 pm

    The quantum of traffic going to and from PKFZ gave the impression that the country was busy with its import and export trades. It is now known that less than 15% of the constructed facilities are utilized. With recession, the number would go down.

    KLIA was planned for 125 million passengers, and there are hardly 25 million using it now. So a five-time overbuilt is norm to the megalimmania standard. PKFZ is only 7-time larger than necessary.

    With oil money to spend, the larger the project the better. Malaysia has always depend on construction works to boast the economy. Maybe they should have delayed PKFZ to be built now. But then only a few decision makers get to benefit from the multiple billions, and and the spinoff to foreign workers.

  68. #68 by puteri pinang on Friday, 29 May 2009 - 5:55 pm

    I like it and agreed to what Onlooker Politics wrote on Chin Peng. TQ Sir. I suppose people who have objections to his return are those trying to show off their power and authorities, just that.

  69. #69 by siamo on Friday, 29 May 2009 - 6:27 pm

    Now the government is suggesting to pump in RM8.6b into the PKFZ. Is this in the best interest of the nation or just to say certain stake holders b..side? or siphoning more tax payers money to their buddies?

  70. #70 by siamo on Friday, 29 May 2009 - 6:28 pm

    I mean to say, “save” not “say”

  71. #71 by boh-liao on Friday, 29 May 2009 - 6:37 pm

    The less the government do
    esp less megaprojects and corridors
    Mana boleh?
    Why would the gomen kill the golden geese
    that lay them golden egg after golden egg?
    How to be instant multi-millionaires or billionaires?
    Cannot, cannot, cannot
    Must keep pumping in more $$$ RM $$$
    Gasak fast and furious before the next GE
    Make hay while the sun shines

You must be logged in to post a comment.