Monday, August 27, 2007

Blogger's help sought in RM4.7 billion fiasco

Motion for debate in Parliament. Lim Kit Siang met Capt Yusof the Ancient Mariner blogger yesterday for inputs the DAP stalwart hopes to put to good use when he proposes today a motion to debate the Pork Klang Free Zone's RM4.7 billion debacle, and the so-called soft loan the government has unilaterally proposed to bail out the parties involved for the losses.
Capt Yusof has been at the forefront in reporting the PKFZ's scandal in his blog while the mainstream media obediently waited for the "green light" from the 4th Floor operatives before they could report on the matter.

21 comments:

Anonymous said...

as expected, the motion for a debate on this scandalous bail-out is denied.
Is this a clean and corrupt-free government as promised by the PM? Answer is obvious, isnt it?
By covering all the alleged abuses of power and corruption, is this not amounting to abettment?
Answer is obvious, isnt it?
On one hand, the PM promises a clean administration and on the other hand condoning corruption, isnt this constitute lying? The answer is obvious, isnt it?

Anonymous said...

Dear Bro,
This is an old friend from Boon Lay. Tried to get you on your phone the last two weeks but ....

Been hoping to tell you this and hoping through your contacts can shed some lights on what I saw about 3 Sundays ago. AND YOU WOULDN'T BELIEVE IT.

I WAS DOING MY PROVISION ON A SUNDAY AT ABOUT 5.00 PM IN A GIANT SUPERMARKET IN SETIAWANGSA.

I nearly died of shock when in front of me , stood a Singapore military personnel in his uniform shopping.. On his shirt was his name and that word 'SINGAPORE"

Are we very very very close to Singapore now ? Just wondering if thers any further information aon this, MIlitary exercise ? Meeting ? or.....

Find it very intimidating indeed.

skilgannon1066 said...

Motion denied by the Dewan Rakyat Speaker. Looks as if Lim Kit Siang has to keep plugging away.

Interestingly, I note that the name of the former Transport Minister has surfaced.

Now, who was the PM and the Finance Minister when the Port Klang Free Zone project was awarded to Kuala Dimensi? Who signed the "support letters" issued by the Transport Ministry that allowed Kuala Dimensi to issue bonds to finance the project?

skilgannon1066 said...

Pak Rocky

Check out the front-page report "Iskandar Development Region - US$1.4b investment set to kickstart project" by S. Jayasankaran in today's Spore Business Times (http://business-times.asia1.com.sg).

According to the report, Middle Eastern investors (including Dubai-based Jumeirah Capital and 3 other parties from Saudi Arabia, Abu Dhabi and Kuwait) will enter in to a special purpose vehicle (SPV) with Khazanah, with an initial US$1.4 billion development of a nucleus "Rim City" in the IDR.

An official was quoted in the BT report as saying that "this will make the KLCC look like peanuts". Between US$4.5-6 billion is expected to be invested in the project over the next 10-15 years.

The Middle Eastern investors will hold a majority stake in the SPV with Khazanah putting in land (on a 99-year lease) as its portion of its equity in the SPV.

(Note the difference from the Port Klang Free Zone project. In the IDR project, the Middle Eastern investors will have a clear majority stake in the SPV).

The BT report noted that since the "Middle Eastern investors will have control of this project, all contracts are likely to be based on open and international tenders to ensure best prices and quality. In that sense, politically-connected companies hoping to ride on the boom through negotiated awards are likely to be disappointed".

(However, I expect that these "politically-connected companies" will lobby very hard for negotiated contracts in this IDR project. I just hope that the govt and Khaznah will stand firm and let have the majority Middle Eastern investors have firm and unequivocal control over the project).

Interestingly, the report said that ongoing negotiations between the Middle Eastern investors and Khazanah are being held in SINGAPORE!

(I wouldn't be the least bit surprised if Spore's GIC or Temasek Holdings take a stake in this IDR project. Both GIC and Temasek have excellent connections in the Middle East, especially with the GCC countries).

Anonymous said...

Probably a student at the staff or defence college near Mindef, all foreign military ofiicers have to wear uniform on most occaisions when they go to classes there

kittykat46 said...

When I was an engineering student overseas, we regularly had trainees from a nearby military college attend some of our specialist courses which their college didn't have the right experts to teach.

One time I was pleasantly surprised to see a group wearing uniforms with "MALAYSIA" clearly embossed on their uniforms, so far from home. It turned out they were Malaysian officers on a military exchange program. They wore the Malaysian uniform all the time when attending their classes.

I'm sure we have a few Singapore military personnel attending similar programs in Malaysia.

Anonymous said...

No. The person was the Singapore Military Attache at their High Commission. Haven't you seen US marines around town especially at Mc Donalds, the US Embassy?

Or foreign Navy sailors walking around town in their uniforms?

Boy, you gotta get out more.

On the RM 4.7 billion PKFZ fiasco, go get them cowboy!

And don't forget. RM 5 billion to quietly save PUTRA, STAR, Monorail, bus cos etc.

And of course, the pre-blog era mother of all scandals RM 30-40 billion forex losses by our Finance Minister II which at today's prices would be RM 60-70 billion losses. And BNM tried to hide this through some creative accounting.

And don't forget the maestro. The short Tun and his coterie, who are now enjoying their fortunes.

NURAINA A SAMAD said...

rocky,

as a "layman", all i know is that they screwed up PKFZ bigtime and the government is now giving them a soft loan which is as good as a bail-out using taxpayers' money.

Am I on the right track.

I pay my taxes.. if i am late in submitting my returns, I get fined.
My salary was deducted, faithfully and religiously, for tas payments to the government of malaysia.

everybody who has to pay taxes, pays taxes. salaried workers (as I was then) have to.

I know some bigtime biznes people try their best to pay as little as possible or not ast all.

now, we all have to rescue PKFZ.

Like that I can run any mega mega corporations-lah.

anytime, bro.

shar101 said...

PFI with 'soft loan' back-up.

Way to go, AAB.

Looks like we still have corporate wannabes depending on crutches from the government after almost 50 years.

Ok, plan 'A' is not working out. Put plan 'B' on the table. Ours, not theirs.

Your move, captain. And don't forget the other (outside) option I mentioned at the BMM gathering.

Anonymous said...

yea rm4bil during petrol hike supposed to be used to transform the public transport. But of cos the only public transport that got transformed was a Jet Plane.

sangria said...

watched Singapore Mediacorp Channel News Asia's interview w Datuk Paddy Bowie earlier. Interesting comment made by the (British)-naturalised-Malaysian consultant/commentator, comparing how business is done in Malaysia vs Britain.

"Malaysia: Relationships first, logic second, law last. Britain: Logic first, law second, relationships last." This from Tun Dr Mahathir's book editor/'critic'.

Wot, this woman is plain genius or delusional or both?

mob1900 said...

Capt. Yusof is the best man to liase with as he had lived and struggle to make Port Klang one of the most successful ports in the world before Dozy the Dwarf and his minions ruined PKA in record time.

mustang said...

50 years, bro. 50 years!

We learnt nothing except how to be better corrupt. How take more from the rakyat!

Screw it all, man!

skilgannon1066 said...

Wait for Jafza to come out with it's version of what transpired wrt the Port Klang Free Zone project!

Perhaps Lim Kit Siang needs to take a trip to Dubai.......

Anonymous said...

my friend went to Bintan Island recently. To his suprise 1/3 of the Indonesian Island is owned and being developed by Singaporean. Locals are prohibited to enter that zone. Even BBC had some reports done on how the locals were left out and discriminated.

Anonymous said...

Yup --I've seen US, Thai , Fillipino and some strange-looking uniformed sailors in town.
And this is like Bukit Bintang, KLCC, Ampang Park etc--all prominant shopping and Tourist attraction places. They may be here for their R & R , or getting their ships repaired and so on.

Yes, I've seen other military attaches lunching at Ampang Park, KLCC and so on. I'd probably won't be too surprised if I see the S'porean Military official anywhere in city-centre.

But a supermarket in a housing estate outside the normal expected vicinity---and on a Sunday ? ?

walla said...

rockybru should start a thread which asks if a malaysian pays RMx per year in taxes, what should he expect to get out of it, and what he actually has been getting out of it.

penurious, i don't even have two goats.

Anonymous said...

4.6 Bill Ringgit all awarded to the same company Kuala Dimensi without tender. The Finance Minister not aware of this despite bonds papers being issued in the name of the Govt.Kuala Dimensi Chairman is UMNO treasurer Azim Zabidi. The main pepetrators is actually Bintulu MP Tiong and supported all the way by Chan Kong Choy and Madam OC Phang.These people became rich with our money. If this statement is unfair then hold a Royal Commission to investigate in depth how contracts were awarded and at what price. Bloggers and commentators will submit they are wrong if found there is no wrong doing by the Commission.Until then they are guilty and must be held accountable.
I now alleged that Kuala Dimensi has now been awarded a further one bill ringgit flood mitigation project. Again without tender.
How about that?

Anonymous said...

"But a supermarket in a housing estate outside the normal expected vicinity---and on a Sunday ? ? "

Why not? Never on Sunday? He's flying the flag! He's jagaing your neighbourhood. He's your neighbour and on his way home.

Besides, they are hardworking people unlike our sleepy Joes.

I have even seen Kedah government vehicles in JB. You might ask, what are they doing there? Lepak la.

anaktelosan said...

15 Sha'ban 1428
Salam

Not to forget... the bailout money also comes from those poor who spent their money to buy sugar. Tax is attach to sugar.

Ramli AR

Anonymous said...

Hey, Anonymous Guy.

I just saw a bunch of American sailors in uniform in Wangsa Maju LRT station. They must have sneaked in in the aircraft carrier the Kitty Hawk which is berthed in Port Kelang (NOT PKFZ).

Are they lost? Iraq's a long way away.

Maybe they were going to Giant to buy provisions. Or maybe our cheap petrol. Or looking for Osama in Kelang Gates area.

Are you excited? shocked?