Paid-up capital in question
> Amount does not match claims by the state government, says Wee
PETALING JAYA: The war between MCA and DAP continues as claims have been made that the paid-up capital for the undersea tunnel project Special Purpose Vehicle (SPV) does not match the amount stated by the Penang government.
MCA deputy president Datuk Seri Wee Ka Siong said Penang Chief Minister Lim Guan Eng had admitted that China Railway Construction Corporation (CRCC) was never a shareholder, and after the withdrawal of Beijing Urban Construction Group from the project, the Penang government awarded the RM6.34 billion project to an 82-day old company with a paid-up capital of RM300,000.
“Without these two companies as shareholders, the Penang people have a right to know if the SPV still fulfils the RM381 million minimum paid-up capital to even qualify for the tender.
“Lim must explain how the SPV still fulfils the RM381 million paid-up capital requirement,” Wee said in a statement yesterday.
Wee said Lim must prove that CRCC is still the master contractor and show documented proof of how much payment has been made to CRCC, documented proof of payment made to CRCC and the company’s role in the project.
MCA publicity spokesman Datuk Seri Ti Lian Ker said the DAP government has “goofed” in the conduct and management of the proposed undersea tunnel from the overpayment of the consultancy fees to the involvement of a fashion company and numerous contradictory statements.
He pointed out that the Board of Engineers Malaysia had revealed that the maximum fees payable is only RM41 million, as opposed to the RM177.5 million paid by Penang.
“Lim is trying to escape any responsibility, liability or culpability by asking for a trial by media.
“As a lawmaker, he should respect the due process and the rule of law and respect the fact that the Malaysian Anti-Corruption Commission is investigating DAP’s perceived misconduct and abuse of powers,” Ti said in a statement.
He said the chief minister should stop “playing victim” by claiming that MCA and Barisan Nasional are sabotaging the proposed undersea tunnel project.
He added that Lim is drumming up public opinion by accusing or implying that MCA or BN is trying to stop the undersea tunnel project and has no “alternative plan to alleviate traffic congestion in Penang”.