Monday, June 22, 2009

So how much is PKFZ costing us?

Not RM12 b, says Minister. In 07, when the story broke, the PKFZ was referred to as the "RM4.6 billion fiasco". The RM12 billion figure was the estimated cost of the project given by PWC in its contentious report to the government. Transport Minister Ong Tee Keat said here the actual cost "has not been finalised".
Is it bigger than RM12 billion, then? OTK will make his much-awaited ministerial statement on PKFZ in Parliament in a few minutes. Suspense.

p.s. It's certainly ain't RM12 b or RM4.6 b for Faizal Abdullah, the Group Deputy CEO of Wijaya Baru Global Bhd, the company involved in developing PKFZ. In an interview with the NST (published on Saturday and Sunday), the pissed-off Faizal said it's not even RM1.2 billion (the original cost of the project) as far as the company is concerned.
"We have been paid only RM300 million for our troubles," he told me at during a meeting last week.
Faizal and co are considering sueing the government and PWC for those "troubles", too.

Watch this space for updates.

44 comments:

Anonymous said...

And he has the cheek to say that only 300 million was paid,this guys must be thinking Malaysians are stupid.

Anonymous said...

Satu lagi projek Barisan Nasional.

The best Ali-Baba case study our business schools can teach for years to come.

Godfather

Anonymous said...

The govt doesn't know the cost? In the same manner that they never knew the stadium roofs would collapse, the MRR II would crack, the building at Pulau Banding would crash, and BN would lose big last general election. Why this BN govt continues with the Pak Lah legacy of not knowing what's going on? Najib, please clean up your governments (federal and states), if you want to BN to stay in power.


McPapadum.

donplaypuks® said...

We still don't have a clear picture of the PKFZ expenditure.

According to the PWC report, the MOF has $4.5 billion loans raised which has still not been drawn down on.

And OTK has not been too clear or forthcoming either.

As much as I do not like it, I think we will get a clear picture only if we have a truly independent Royal Commission of Inquiry on it.

Most have no faith in OTK's and MCA's handling of what may turn out to be M'sians largest fraud, and equally of any investigations by the MACC (I mean, what have they been doing since 2007 when the issue was first exposed?).

Anonymous said...

Crooks suing Crooks....you must be kidding !!

let wait and see who's the biggest crooks here.



Dakis.

Parpu Kari said...

GUDFAKER, APA LU CERITA NI BEB? DON'T TELL ME THA FUCKATAN RIOT IS SOING OKAY LA U MUTHAFAKER, I KNOW PAK LAH AND COMPANY HAS DESTROYED A LOT OF BIG COMPANIES BUT YOU BEING AFUCKATAN RIOT'S ASS LICKER HAVE NO RIGHT TO SAY A THING BECAUSE YOU GUYS ARE THE WORST...

I WILL EXPOSE VERY SOON IN MY BLOG FOR MORE WRONGDOING OF FUCAKATAN RIOT...YOU JUST WAIT AND SEE MUTHAFAKER....TUNGGUUUUU

Parpu Kari said...

BRO ROCKY, WHY IS STILL NAJIB KEEPING THE ANAK OMAK? HE IS PART OF THIS PROBLEM LA BRO...BILA LA NAJIB NAK BERTINDAK NI?

TUN DOL IS THE BIGGEST DISASTER TO UMNO AND BN AND WHY ARE WE STILL KEEPING THIS KIND OF LEGACY AROUND? NGABIHKAN BOREH JO BRO...

DS NAJIB, PLEASE CLEAN UP UMNO AND BN NOW BEFORE IT IS TOO LATE....

UMAR said...

THIS PROJECT STARTED DURING MAHATHIR'S ERA. LING WAS THE TRANSPORT MINISTER. BOTH SAID NOTHING SO FAR. THEY ARE OBLIVIOUS TO THIS FIASCO. THESE ARE THE CULPRITS WHO SQUANDERED THIS COUNTRY.NOW MAHATHIR WANTS THE BRIDGE TO SINGAPORE.
THE GOVMEN DOESN'T KNOW THE COST.
LONG LIVE BN.

Anonymous said...

mush or much??

Anonymous said...

so what??
to hell with this country...
malaysia is a racist country/let the country wealth go to the dog level...

i have money says

Citrawaras said...

Saudara Rocky

Harap saudara sedia membaca artikel saya di sini dan artikel berkaitan isu sama sini.

Melayu, Cina dan India jangan mudah lupa.

Sebelum muncul Anwar Seniman Agung, Lim Kit Siang adalah hero sandiwara Tamil berbangsa Cina.

Dia pakar dalam watak untuk mengembar gembur sesuatu lebih dari yang sebenar.

Pencen dan jaga anak-anak Lim Guan Eng lebih baik. Cakap pun gagap macam apek-apek di kopitiam.

Anonymous said...

Alamak Anwar Ibrahim's sodomy trial has been postponed again. Now its July 8th, one week late. The man is doing everything possible to delay the trial.

I suspect he has sympathisers everywhere who are ready to help him. This is unfair to the Saiful Azlan Bukhari. Just let the trial start lah.

Malaysian Currency Trader said...

In my opinion, there is more than meets the eye about is PKFZ issue. Careful investigations has to be done to really dig and find out what really happened. My personal concerns is the gigantic amount of money used to finance and complete the project. If indeed the amount is RM 12 b, that is a lot of new currency notes being printed and placed into circulation. When a country prints more paper money the weaker the currency will become. Some of us malaysians have been arguing this huge amount of RM 12 bil from the point of wastage of tax payer's money. However, we should also look at the impact of the issues involving PKFZ and it's impact on the value of the Malaysian Ringgit. The Malaysian Ringgit has weakened since this issue involving the PKFZ broke out. Just take a look at foreign exchange rate for Malaysian Ringgit against the British Pound. Before the PKFZ issue broke out, the Malaysian Ringgit was strong against the British Pound trading at below 5.00 ringgit to 1 british pound. Today, the Malaysian Ringgit is trading at above 5.80 ringgit to 1 british pound. Which means malaysians now have to pay 5.80 ringgit to buy 1 british pound.

Anonymous said...

Those pro-UMNO goons (Rocky included) should understand that this is a typical BN fundraiser. Who pays ? The stupid taxpayers. Not just the current taxpayers, but future taxpayers as well.

Why should we tolerate this sort of nonsense year in year out ?

Godfather

Anonymous said...

Yea right only RM300 mil ???

Where else can you get such a nice deal ?

Asian Godfather

Anonymous said...

Please visit the hottest new Blog in town. The Unspinners at

http://theunspinners.blogspot.com/

This is a Blog dedicated to exposing Anwar Ibrahim.

Dingdong said...

Salam,

I visited Malay Mail's www for the 1st time 2day.
Nice story.
Hope to see more in the future.
Why still using plain font colors meant for the old days.
When PKFZ is becoming front page?

dua sen said...

$300m is only his portion. What about the others ?

pemerhati said...

Bukan buat berniaga sahaja ada Ali Baba, to take the blame pun ada Ali Baba. He is a small timer. Read the report, you will find that in the main one government official facilitated this fiasco working together with 3 politicians. They are all Chinese (my apologies, no racist remark intended, but just making a point) and this UMNO guy is protecting them.

Dato' Bendahara said...
This comment has been removed by the author.
Rahman,Ahchong,Muniandy said...

PKFZ makes MCA and dot dot dot famous n the richest in the region.

BrightEyes said...

The government is now in damage control mode to try & distract the Rakyat from this scandal. Little news of this has been seen in the papers, with the exception of The Sun.

And I hope Captain Yusof is victorious in his quest to kick these Pirates of Port Klang in the ass...

http://cyusof.blogspot.com/2009/06/no-pac-probe.html

Mustapha Ong said...

Dear Rocky's Bru,

The issue of PKFZ had damaged the FDI investment climate into Malaysia, which had reflected badly to all the Federal or State politicians and administrators involved in the decision making process.

These unscrupulous group of people should be held responsible to the ruckus of this ambitious project.I urge Minister Ong to pursue the matter without any political malice and not to be deterred by the antics of LKS and the like.Nobody should be above the law of transparency, as so many mega projects had failed badly due to the lack of integrity and transparency in the award of tenders, etc.

The onus is now on the shoulder of the current Transport Minister, Ong Tee Kiat to investigate and assess the credibility damage done to MOT and the BN government. It is not an easy task for the "no nonsense Minister", but the opposition through Lim Kit Siang had taken the liberty to politicise the issue in parliament.

LKS is trying to be personal, though he may have his own reasons to blow out his annoying steam and barking furiously on the back of the Minister.Who is right or wrong is none of the rakyat's business,as long as the PKFZ is being investigated with absolute transparency.

In the first instant, we may not agree with the report done by PWH as they were bound to be bias at a certain stage of their investigation.Why not we transfer the task of the PKFZ investigation to the Auditor General, who is appointed by the YDP Agong? It does not matter to the Minister or rakyat. Whoever was responsible for the ill thought project should be hauled up for this national crime, in order to redeem the image and credibility of the BN government.

I believe, not only BN politicians were involved,but also certain nominees of the opposition leaders were also part of the scheme.Let's wait and see the end result and solution to this shameful issue that had damaged the integrity of the BN government.

Perhaps,the government should consider to produce a white paper and establish the chronicles of the PKFZ mega project for public consumption and knowledge.Public monies and a substantial foreign investments were involved in the initial financing of the project, which said to be stretched until almost 50 years till 2057.

Anonymous said...

rocky, so BN MP is a businessman than a true champion of the people!!! he he he I see three people making more money. I like to suggest the government give more money to Rahman Palil's cooperative, because Government has more money like PKFZ!!! what is your comment rocky!

zamri

Anonymous said...

Why dont Faizal Abdullah publish the accounts? According to him KDSB was paid 300M RM? How much did PKFZ paid out? Where did the difference went?

It is getting more mysterious by the day. The case of the missing money. Nancy Drew. Anyone?

Anonymous said...

Looking at the bugger's face. He does have the look of a big white collar crook.

Anonymous said...

anwar birahim please go back to sg buuluh... i dont want to see u on tv.

Anonymous said...

Initially the sole-owner of the subject land was Koperasi Pembangunan Pulau Lumut Bhd (KPPLB). However, in 1996, a cousin of mine (member of koperasi) showed me a copy of land title of which charged to Sabah Bank and also indicated the owners of the land are Kuala Dimensi Sdn Bhd (KDSB) & KPPLB (1/2 bahagian each).

He claimed that neither consent to charge nor consent to sell was given through AGM, but the land without any knowledge of ordinary members of KPPLB was suddenly charged and sold.

Maka selepas itu, terjadilah perbalahan dikalangan ahli-ahli koperasi, kawan menjadi lawan, saudara mara berseteru sesama sendiri. Akhirnya, mulai GE1999 mereka yg kecewa mula berjinak-jinak malah terang-terang menyokong parti pembangkang!

Telinga Rakyat.

Mustapha Ong said...

Dear Rocky's Bru,

The controversial PKFZ issue is currently under investigation as well as being debated in parliament.I think it is not only about the cost of the mega project that is being investigated, but more so in the question of moral, integrity and transparency that involved public funds.

In this instant, the people through their representatives either BN or the opposition maintained the citizen's right to question the authority to the rock bottom of the financial ruckus.

Being a Malaysian, I am equally shameful that there are certain people out there, who should be held responsible for the malpractices, abused of power as well as high power corruption involved.

The incumbent Minister Ong Tee Kiat, whom I sincerely believe will not leave any stones unturned in order to investigate and resolve the PKFZ issue. The opposition through DAP representative Lim Kit Siang is on the heel of the Minister, although LKS may take this opportunity to politicise the issue that will damage the creditability of the BN government but will add political mileage to Pakatan Rakyat.

This shameful act of dishonesty will affect the flow of FDI into the country, and in turn becomes a liability to Najib's administration.Nobody should be above the law, irrespective whether the guilty ones are from BN or the opposition members.They should all face prosecution and the maximum jail term and fine penalty should be meted out, if they are found guilty of the crime.

Though I do not want to side BN or the opposition, I urge parliament to cooperate with the Minister and resolve the issue in the best interest of the public. Looking at the whole scenario,we may not be even convinced with the current investigations based on the audited report by PWH.

The culprits involved may have some connections to PWH, directly or otherwise, and any findings may not be professionally transparent. We urge a professional review of the report through the Auditor-General who is appointed by the YDP Agong.

The government should also consider to publish a White Paper on the chronicles of the PKFZ ruckus that had committed the government into spending hundred of millions of public funds, stretched up to the year 2057 as reported.

Ali Baba & 40 thiefs said...

Hey Rocky,

Read your headling....
Mush instead of Much, if we do not start using more English in school I think this kind of mistake will one day ended up on the Malay Mail headline then it would be a real laughing stock.

So can you please remove SATU SEKOLAH UNTUK SEMUA? I hope it won't end up becoming SATU SOTONG UNTUK SEMUA.

amoker said...

what a whack.

nobody is wrong ... ALL CLEAN

Anonymous said...

Sikit-sikit UMNO-Goons. Abis yang korang to jadik Anwar-Dicks OK pulak. Pirah mampos Anwar-Dicks

Anti Anwar-Dicks

eddy said...

En Omar Ong, I agree with you that a White Paper or a Royal Commission be put in place to get to the bottom of this PKFZ affair. The White paper shall find out who mooted this project and its initial objective, what happened to the cost budget and cost control procedures, why Jebel Ali investors first showed interests and then pulled out leaving LPK in the nude, what needs to be done to arrest this problem of ballooning liabilities and what else needed to be done to attract more investors to the PKFZ in the next 5,10 and 20 years period.

Kit Siang's ranting and running tiffs with Ong in parliament or cyberspace will never solve anything but will ONLY give our country a bad name and investors will be very wary of Malaysia when the world economy starts to recover soon enough.

I think Najib has left it long enough for discussions by all and sundry and it is starting to fester and rot and smell, I do not think that Ong and LPK alone could solve this problem as its way above their heads now.

The BN Government must bite the bullet and call for a White paper or a Royal Commission immediately.

artchan said...

pemerhati 759pm,

good observation...this chinese fler organised a field trip to Taiwan...took almost all the wakil rakyat with him. Now we know why he has so much money to organise the trip. And we know where we got the money. Small payback...

Anonymous said...

Anonymous said...

Satu lagi projek Barisan Nasional.

The best Ali-Baba case study our business schools can teach for years to come.

Godfather


Betul la, kalau bagi orang cina handle projek besar-besar macam ni, banyak yang lingkup hancusss!

Kalau cina DAP lagi lah.

-tukang perati

Anonymous said...

Its look like everyone just woke up from a long long sweet slumber.

Excusable...I thought I heard the oldie echoed from far away-Wait Me I Am Dreaming....

limpek.

Sick&Tired said...

this Parpu Kari fellow was molested by his father when he was a child. Coincidentally, his father's name was Badawi. Thats why he hate Pak Lah!

M.Kate said...

Whatever it is, the citizen's blood money went somewhere..and it aint to yours or my pocket. The blame game starts, finger pointing everywhere, suing here and there to cover oneself..but where is the moolah. That should be a no brainer here.

Anonymous said...

tukang perati is a really stupid UMNO supporter. Monies get stolen and he tries to put a racial spin on it. Helloooooo....it is a conspiracy between MCA, UMNO and SDPP to raise illegal funds for the 2008 elections. MCA transport minister, UMNO Treasurer and Sarawak gangster-cum-bagman. That's why no one will ever be caught.

What is surprising is that this scam to steal from the rakyat doesn't involve MIC - and Semi Value is entitled to ask "mana saya punya share?".

Godfather

Bunnies said...

So, are we going to have some more shocks from this PKFZ drama? The 1st few are earth shattering already..

Hmm.. so, actually, after PWC audit, what are the actions that the government is going to take against the guilty ones? So far like none hor... tsk! tsk! tsk!

rocky said...

a lot more than what it was suppose to be. Then the issue of conflict of interest etc should also be addressed. The lady Phang if I'm not wrong, knows it all. She is the key.

Anonymous said...

Rocky,

Now that you are Chief Editor of MM, just concentrate about this kind of expose...forget about spinning for UMNO and Najib coz no one believe your spins anymore...

Here a feedback from your MM reader..forget about afternoon news...go for evening news instead and have a strategic tie-up with one of the Chinese evening papers..splash MM with all the headline news and photos of murder, killings, robberies, accidents and all sort of gossip news...in no time MM will improve its circulation...

Anonymous said...

Anonymous said...

tukang perati is a really stupid UMNO supporter. Monies get stolen and he tries to put a racial spin on it. Helloooooo....it is a conspiracy between MCA, UMNO and SDPP to raise illegal funds for the 2008 elections. MCA transport minister, UMNO Treasurer and Sarawak gangster-cum-bagman. That's why no one will ever be caught.

What is surprising is that this scam to steal from the rakyat doesn't involve MIC - and Semi Value is entitled to ask "mana saya punya share?".

Godfather

10:40 PM



Betoi tu. Kamu pun stupid DAP+PKR+PAS supporter.

Semua hal tuduh konspirasi. PR ler yg paling suka berkonspirasi. Dia saja bersih, orang lain semua kotor. Macam Brother Anwar Bin Ibrahim Al-Juburi tu.

Kamu pun tahukan dari mana PKR dapat dana? Dari mana DAP dapat dana? Konspirasi jugak kan?

Siapa yang dulu suka buat racial-spin? Bukan ke kamu yang suka kaitkan semua hal dgn UMNO (orang Melayu)? Bukan ke kamu yg suka memperbodohkan orang melayu?

-tukang perati

Anonymous said...

Tuan Rocky,
kalau ya pun, letaklah gambar orang tu yang elok2 sikit.

elok juga ada saman menyaman. barulah rakyat dapat buir-butir yang betul.

bila pergi court semua figure yang keluar nanti adalah figure yang sahih.