Yong dares Musa to declassify SAS documents
By Clara Chooi, The Malaysian Insider
Datuk Yong Teck Lee has issued a second challenge to Datuk Seri Musa Aman, this time daring the Sabah chief minister to declassify all documents related to the 2007 Saham Amanah Sabah (SAS) unit price fiasco.
The Sabah Progressive Party (SAPP) president and party candidate for the Batu Sapi by-election said Musa was “unwilling” to publish a White Paper for SAS as he was aware that many top Umno leaders were involved in the scandal.
Earlier, the ex-chief minister had called for an open debate with Musa at 2pm this Sunday on Sabah autonomy and the Sabah-for-Sabahan concept, which the chief minister had allegedly called “outdated”.
“These top Umno leaders were actually the culprits who influenced SAS to buy shares in listed companies owned by their cronies for personal gain.
“It was the fall in these share prices that eventually led to the decline in SAS,” he claimed.
Yong added that he was recycling the SAS issue again as it was apparently raised by the Barisan Nasional during its campaign for the Batu Sapi seat.
“We of course expected this to be one of BN’s subjects because they have no other subjects to raise.
“But since they are talking about it, we will now challenge the CM to declassify all official documents related to SAS… the minutes of the board meetings, the minutes of its investment committee meetings, who got instructed to buy what share and sell at what price,” he said.
Yong has been repeatedly linked to the SAS debacle due to his chairmanship of the body when he was the Sabah Chief Minister in 2007.
According to media reports, Warisan Harta, the state government’s investment arm, had been badly affected following a share swap deal that when sour more tha a decade ago.
It had swapped 32 million in blue chip MISC shares for shares in trading company North Borneo Timber Corporation (NBT) and fast-food company Sugarbun Corporation Bhd.
The deal was said to have been made so that the government, through Warisan Harta, could utilise a RM50 million fund to support counters in which the investment arm and Sabahans had investments.
MISC shares were disposed of at RM5.70 per share with a value of RM182.4 million and traded with three million NBT shares at RM32 each or RM96 million and 4.67 million Sugarbun shares ot RM7.60 each or RM36.176 million.
Both NBT and Sugarbun were connected to the now-defunct Suniwang Holdings Sdn Bhd, then helmed by renowned businessman Ambrose Lee.
Both NBT and Sugarbun were however delisted after its share prices plummeted during the thick of the Asian financial crisis.
This had cost heavy losses of over RM114 million to Warisan Harta and caused over 55,000 Sabahans to lose their savings as the state unit trust had plummeted from RM1 to just 17 sen.
“In the state assembly, it was repeatedly called for a White Paper to be prepared to reveal everything. But I am not able to give you details because it is under the Official Secrets Act.
“If I were to divulge some of the information that we have uncovered, they will take me to court and I will not fall into that trap,” Yong said yesterday.
He also took a stab at state Resources Development and Information Technology minister Datuk Dr Yee Moh Chai for fearing to support the White Paper request as he was afraid of losing his position in the government.
“He at first mistakenly thought I was behind it but after he become a minister, he knew it involved Umno leaders, not me.
“Now, he is scared to offend Umno and fears losing his ministerial position. Therefore, he can continue to receive benefits but at the expense of betraying his own conscience and continuing his lies to the people of Sabah,” he said.
