New Straits Times

STOP CONFUSING PEOPLE, GUAN ENG TOLD

Explain why CRCC not part of SPV for undersea tunnel project, urges Wee

- RIZALMAN HAMMIM

MCA yesterday urged Penang Chief Minister Lim Guan Eng to stop confusing the people over the Penang undersea tunnel project.

MCA deputy president Datuk Seri Dr Wee Ka Siong said Lim should explain why China Railway Constructi­on Corp Ltd (CRCC) was no longer part of the special purpose vehicle (SPV) for the project.

Dr Wee said a statement by Penang state secretary Datuk Farizan Darus that appeared on Buletin Mutiara on March 4, 2013, stated that CRCC and Zenith Constructi­on Sdn Bhd (Zenith) would have a 70 per cent equity in the SPV called Konsortium Zenith BUCG Sdn Bhd.

“However, when the agreement on the project was signed between Penang and the SPV on Oct 23, 2013, CRCC was not part of the SPV. Lim must explain this,” he said at the Johor MCA headquarte­rs here.

Wee said between 2013 and this year, two SPV shareholde­rs had disappeare­d and another was in the process of being wound up.

He said according to docu- ments from Companies Commission of Malaysia (SSM), as of this month, the shareholde­rs of Konsortium Zenith BUCG were Zenith, Kenanga Nominees( Tempatan)SdnBhd, Vertice Bhdand Juteras Sdn Bhd.

In the statement by Farizan in 2013, the shareholde­rs were announced as Zenith

CRCC, Beijing Urban Constructi­on Group, Sri Tinggi Sdn Bhd and Juteras.

Wee said: “SSM documents also show that Juteras is currently in the process of being wound up. Lim must explain how the shareholdi­ng has changed.”

He said if Lim failed to do so, it was because Lim did not want to give an explanatio­n or that he did not have an explanatio­n.

He said Farizan’s statement also mentioned that one of the criteria required by the state government was for the SPV to have a minimum paid-up capital of RM381 million.

“However, based on the documents from SS M, K ons or ti um Zenith BUCG only has a paid capital of RM70.5 million.”

Wee said the state government had always said it practised the CAT (competency, accountabi­lity and transparen­cy) policy but in this case, that policy seemed to stand for “Cunning, Abusive and Tyrant”.

“Lim is confusing the people on this matter. He believes that if he can’t convince the people, he will confuse them so that they will be less interested in the matter.”

He said it was unfair to compare the tunnel project with the East Coast Rail Link (ECRL) project.

“The ECRL is a government-to-government initiative between Malaysia and China that was awarded to the state-owned China Communicat­ions Constructi­on Company.

“Under it, Malaysia would receive a loan with favourable terms, including a low interest rate and a moratorium from repaying the loan during the constructi­on period. The project is also expected to generate 1.5 per cent of the country’s gross domestic product.”

 ??  ?? Datuk Seri Dr Wee Ka Siong
Datuk Seri Dr Wee Ka Siong

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