Showing posts with label Pakatan Selangor. Show all posts
Showing posts with label Pakatan Selangor. Show all posts

Friday, July 20, 2012

蔡智勇揶揄不會看財務報表‧“潘沒資格跟我辯論”

Created 07/20/2012 - 10:12

Friday, July 6, 2012

Young Professionals Bureau – Talam & S’gor state govt need to clarify portion for debt recovery and cash



MCA HQ, 5 July – After MCA Young Professionals Bureau chairman Datuk Chua Tee Yong had exposed a RM1billion scandal involving the Pakatan Selangor state government to bailout Talam Corp, a new questionable transaction was unveiled when the member of Parliament for Labis revealed that the Pakatan state government had purchased 2,263 acres of land at Bestari Jaya for RM181million at RM80,000 per acre when the valuer for Talam had evaluated the landplot at RM60,000 per acre or RM 139 million at market rate.

To a question, Tee Yong remarked that “what I understand is that this is a land transaction for the debt recovery exercise. Some parts, the state government used to offset the debt … some part, the state has to give cash for the land… but the portion, I hope that Talam can disclose which part of it is for land transaction is for debt recovery. That one I don’t know. You need to ask Talam.”

On the planned lawsuit which the Selangor state government has announced it will take against our party, Tee Yong was asked to comment to which he replied “the Selangor Pakatan government can do what they want and I will continue doing what is necessary.”

Earlier, he informed that “we have not received anything. How to comment?” while adding that “we have not received any letter and don’t know if they are suing MCA, me or whoever attended the press conference.” He later quipped, “I asked, and they did not clarify. And now they say they want to sue.”

Two years later and still no White Paper on Talam debt recovery

To another question, the MCA state Assemblyman for Kuala Kubu Baru Wong Koon Mun highlighted that “the Selangor state government has passed the Freedom of Information Enactment 2010 at the assembly. They were considerate to let the rakyat seek information.” In outlining the contradictions practised by the Pakatan state government, Koon Mun who is also the MCA Selangor Secretary pointed out that “the Menteri Besar doesn’t understand that he no longer is a corporate figure but an MB. The rakyat have right to know about the transaction and money usage between state government and Talam. Everytime there is issue, he says ‘I will sue you. That is not a transparent government.”

Simultaneously, Koon Mun also brought attention to the White Paper on Talam’s restructuring which the MB pledged that he would furnish in 2010 but is obviously evading or delaying submitting it. “He then said he would release it in 2013. It is no longer a question of whether he will reply in 2013 but that he does not want to answer. In 2013, he may not be the state government!”

On Tee Yong’s his view regarding the Selangor select committee on competency, accountability and transparency (Selcat), the Deputy Minister of Agriculture and Agro-based Industry replied that “I have not much faith or confidence in Selcat when it is investing its own government.”
-MCA online-

Datuk Chua Tee Yong: Pakatan Selangor overspending RM42million on land sale to Talam



Press Release by Datuk Chua Tee Yong on Pakatan Selangor overspending RM42million on land sale to TALAM

1. Today, I want to congratulate Talam for their exceptional business negotiating skills with the Pakatan Rakyat Selangor government in terms of debt recovery exercise.

2. The Pakatan Rakyat Selangor government has been claiming that the state government has benefited the rakyat in the Talam debt recovery exercise. However, I think the one that has benefit the most and smartest is Talam. Why do I say so?

3. Talam sold a 2,263 acres of leasehold land located at Bestari Jaya, to the Pakatan Rakyat Selangor government at a price of RM80,000 per acre, costing RM181 million.

4. However, a valuation report to Talam, dated October 11, 2010 by Mitra Valuers and Property Consultants Sdn Bhd, states that the leasehold land of 2,263 acres market value is only valued at RM139 million or RM60,000 per acre provided the land is being free from encumbrance. This valuation report is conducted for purpose of assessing market value for the sale of the land to Pakatan Rakyat Selangor government relating to debt recovery exercise.






5. So, Talam has successfully sold the land at higher price of RM 42 million above market value. The question I want to ask Talam, is how did they manage sell it at a price above market value considering the fact that this land is encumbered and is still charged to financial entities.

6. In addition, I am also made aware that out of the 2,263 acres of land, there are probably 1,013 acres of land, representing 44% of the land that have the following complications based on the valuation report:



I. 438 acres of the land are underwater lands. For this underwater portion, it requires additional RM 50 million to 100 million based on current estimates, just to fill up before any construction work can start.

II. There are also 575 acres of the land which is stated as ‘forest and ecology reserves’ which has little commercial value.

7. The question remains in mind now is how did Talam manage to convince Pakatan Rakyat Selangor government to buy this land at such a higher price of RM 42 million above the market value, although there is 1,013 acres of lands with complications and it is encumbered.

8. This deal gives rise to much speculation, either:

I. Talam is good in negotiation; OR
II. Pakatan Rakyat Selangor government is NOT aware of the true scenario; OR
III. Pakatan Rakyat Selangor government is incompetent; OR
IV. Rakyat’s money is NOT important.

By,
YB Datuk Chua Tee YongMCA Young Professionals Bureau ChairmanDeputy Minister of Agriculture and Agro-based IndustryMember of Parliament for Labis
-MCA online-