Aug 24, 2007

Minister absent, officials vanish, Datuk Z is OK

So what is new?

June 27th 2007 : Eric Chia Acquitted

July 12th 2007 : ACA probe on Johari closed, says A-G

July 28th 2007 : IGP and ex-ACA boss cleared of graft, abuse of power

(TheStar) KLANG: All 37 charges against controversial Port Klang assemblyman Datuk Zakaria Md Deros and five of his business partners instituted by the Companies Commission (CC) have been withdrawn.

The CC had taken Zakaria and the five to court by virtue of their position as directors of Harvest Court Industries Bhd and Titi Steel Sdn Bhd, which had contravened the Companies Act 1965.

Each charge could be punished with a fine of up to RM30,000 and five years jail.

They were charged for failing to notify of change of address, failing to hold annual general meetings, failing to submit financial statements and failing to submit profit-and-loss accounts.

Mozni Sham Ahmad and Joseph R. Samuel who appeared for Zakaria, his partners and the two companies said the charges were withdrawn because the "outstanding problems had been settled".

Companies Commission's prosecutor Azmil Haron told magistrate Fadzilatul Isma Ahmad Refngah that he had been instructed to withdraw the charges against the two companies and its directors.

While Malaysikini reported :

Transport Minister Chan Kong Choy and his subordinates once again evaded fielding questions on the Port Klang Free Zone (PKFZ) controversy.

The minister was conspicuously absent from a press conference called Tranport Ministry at the PKFZ headquarters regarding the issue today.

Other ministry officials also did a disappearing act, leaving PKFZ officials to distribute a five-page statement from the ministry.

Unfortunately, the statement does little more than state some facts already known about the fiasco, fudge other facts, while completely ignoring a host of other important questions that have been raised with regards to the development project.

The statement confirmed that the government has approved a 'soft loan' to Port Klang Authority (PKA), the state-owned agency responsible for the mega-project. "Details of the borrowing are being finalised," it said.

According to the statement, the ‘facts’ are:

  • The land on which PKFZ now stands was bought at RM1.088 billion which, paid over 15 years with 7.5 percent interest, amounts to RM1.807 billion. This clarifies earlier discrepancies on the actual sum paid - put simply, the land price was RM1.1 billion while PKA which bought the land had to pay in total RM1.8 billion over 15 years.

  • PKFZ was initially to be developed in two phases - the first, to develop 500 acres with a price tag of RM400 million.

  • However, following the advice of the Dubai-based Jebel Ali Free Zone Authority (Jafza), PKFZ’s owner Port Klang Authority agreed to develop the land in one go at a cost of RM1.845 billion, said the statement, which appeared to suggest that Jafza should shoulder part of the blame.

    This included additional developments such as the building of a business-class hotel with 135 rooms.

    “Hence, the total cost of PKFZ after including the land purchase and development costs, interest cost of 7.5 percent, professional fees of 10 percent and a variation order limited to 20 percent (if used) is estimated at RM4.632 billion,” read the statement.

    The ministry also said PKFZ is a national project to help increase the volume of cargo at Port Klang “to serve as a catalyst for national economic growth and to create employment opportunities and ancillary support services and business activities.

    “Hence, because the total PKFZ costs are high, the government has agreed to approve a soft loan to PKA. The details of that loan are under discussion,” it added.

    tags :

    1 comment:

    Anonymous said...

    these thieves just lied thru their teeth. these thieves have no honour; stealing state assets and monies which could have been used to help the needy.
    and someone connected to this fiasco has the temerity to issue threats of suit.