1. Today I receive new information about the
Talam Deal. Again it reinforces the continuing lies after lies of the Talam
deal by the PR Selangor government. It looks like the Talam deal has become the
mother of all lies committed by the PR Selangor government.
2. Based on
the document dated 14 July 2009
by Menteri Besar Selangor (Pemerbandanan) 1994 the following is mentioned in
the document;
-
A new
committee known as Talam Task Force Committee is to be formed and
headed by Ybhg Datin Paduka Low Siew Moi to negotiate and to implement a new
global settlement for the recovery of all outstanding debt from Talam.
-
All
settlement agreement signed earlier between state government agencies with
Talam shall be terminated and cease to have any effect and new
terms of settlement shall be negotiated to recover all amount outstanding from
Talam.
3. As such
the document clearly shows that PR Selangor government is aware that there was settlement agreement by the
subsidiaries of the state government to collect debt from Talam.
4. This shows
PR Selangor government is lying and misleading the public when PR Selangor
government says all the debts are hidden and no state subsidiary attempt to
recover the debts from Talam.
5. All previous settlement is terminated hence all
the assets accepted by PR Selangor government is based on PR Selangor
government decision and has nothing to do with previous state government.
6. Thus the
land underwater or with ex mining pond Danau Putra & Bestari Jaya, office
lots in Menara Pandan, retail lots in Ukay Perdana , Hillslope ulu yam land,
60% shares in Ulu yam and country club sdn bhd accepted from Talam is due to
the decision of PR Selangor government and not a legacy of the BN state
government fault.
Why are these assets accepted by PR Selangor
government?
7. In
addition, the value of each asset accepted is also determined by PR Selangor
government. Thus what is the state
valuation through the Valuation Property Service Department (JPPH) for
each of the assets that are accepted as a debt settlement. What is the state
valuation of Bestari Jaya land, Danau Putra land, Ulu yam land, Menara Pandan
office lots , Ukay perdana retail lots, 60% shares in Ulu yam and country club
Sdn Bhd? Why is there an apparent overvaluation of RM107million to
RM165million?
8. Moreover
why is RM36million early incentive discount still given to Talam though Talam
has not been able to fulfil the terms and condition in the settlement agreement
dated 8 March 2007? The agreement is already terminated by PR Selangor
government thus what is so special that the RM36million discount is still
granted to Talam?
9. I have
also highlighted that BN government made effort to collect debts via the 8
March 2007 supplemental settlement agreement. It was clearly stipulated in that
agreement that the previous state government is not involved to clear the land encumbrances.
10. However,
PR Selangor government has terminated all the
settlement agreement and under the new
settlement agreement in 2010, PR Selangor Government has to
settle an additional amount of RM296million.
11. RM266million
is to be paid to Talam Bankers to clear the encumbrances of the land accepted.
The remainder RM30million will be settled by PR Selangor government, via a land to be given to Talam. In order to raise money of
RM266million some of the lands are sold to PNSB and a loan is raised resulting
in an interest cost of RM86million.
12. Furthermore
as all previous settlement agreement has been terminated, PR Selangor government
could not take actions against Talam upon expiry of 8 March 2007 supplemental
settlement agreement when Talam fail to repay the debts. Instead 2 years was
spent signing a new agreement in March 2010 and April 2010.
13. This
document clearly shows that PR Selangor government must be responsible for all
of its own action for the debt settlement;
-
Why after two years, the white paper cannot
be released as promised?
-
What is the state valuation of each assets through
the Valuation Property Service Department (JPPH) ? Why is there an apparent
overvaluation of RM107million to RM165million?
-
Why are these assets accepted;
a) Bestari Jaya land that has underwater or
forest & ecology zone;
b)
Danau
Putra land that has ex-mining pond possibly 80 to 100 feets;
c)
Menara
Pandan Office units with low occupancy and poor marketability;
d)
Ukay
Perdana retail lot that are vacant;
e)
Ulu yam
Hillslope land Class 3 & 4, and
f)
Shares
of Ulu yam country club sdn bhd with only asset of hillslope land in ulu yam.
-
Why is a discount RM36million being offered to
Talam though Talam had failed to settle early and the settlement agreement
dated 8th March 2007 has been terminated?
-
Why is PR Selangor government willing to fork
out additional RM296million for Talam
bankers and Talam? The funds to pay the bankers are
obtained through sales of land to PNSB resulting in PNSB incurring an interest
cost of RM86million
-
Why did PR Selangor government lied that all
debts hidden and there is no actions taken by any state company to collect
debt?
-
Why did PR Selangor government lied that they
have to abide to the previous agreement of BN when all the agreements are
terminated?
-
Why is PR Selangor government not transparent
in disclosing all the details of the Talam deal although according to state hansard
9 November 2009, it is stated that they will be transparent in the whole deal?
14. In short
the whole deal show PR Selangor state government is
·
Incompetent
·
Lacks of
accountability
·
Lacks of
transparency
15. To the PR
Selangor government, CAT is just a
political slogan to hoodwink the Selangor rakyat.
//END
Datuk Chua Tee Yong
MCA Young Professionals Bureau Chairman
Deputy Minister of Agriculture and Agro-based Industry
Member of Parliament for Labis