Kok: Pakatan State govt had to abide by earlier agreement

(The Star) – The previous Selangor Government agreed to enter into a debt settlement with Maxisegar Sdn Bhd a subsidiary of Talam Corp because the company was under threat of being wound up.

State executive councillor Teresa Kok said that in 2006 the Barisan Nasional state government agreed to a settlement that involved 694.4ha of land in Bestari Jaya and five leasehold office lots in Menara Pandan, Pandan Indah.

“Pendidikan Industries YS Sdn Bhd (Unisel) and Kumpulan Darul Ehsan Berhad (KDEB) entered into settlement agreements with Maxisegar as it owed Unisel money to set off the debts via contra arrangement,” she said after the state executive councillors meeting.

She said the first agreement, dated July 29, 2005, “was for 1,715.9 acres (694.4ha) of land in Bestari Jaya, valued at RM80,000 per acre”.

The second was dated Jan 10, 2006, for five office units at Menara Pandan at RM2,723,900, and a retail lot measuring 2,745 sq m at Ukay Perdana for RM7.8mil.

“The sales and purchase agreements were signed on Jan 12, 2006. How can MCA Young Professionals bureau chief Datuk Chua Tee Yong compare the transaction price in 2006 with the auction price in 2010?” she asked.

On Tuesday, Chua alleged the state government had overpaid RM1.89mil for five office lots in Menara Pandan as part of the RM676mil asset debt recovery exercise by the state government. Chua said the state government acquired the lots at RM2.72mil or RM337.25 per sq ft but the average auction reserve price in 2010 was RM103 per sq ft, making the possible overpayment of RM1.89mil.

Kok said Unisel and KDEB subsequently obtained restraining order protection from the High Court on March 28, 2006.

She said a supplemental agreement dated March 8, 2007, was signed to extend the previous agreements and contra another 4.8ha of land in Puncak Jalil at RM11mil, 161.8ha of land in Ulu Yam for RM27.2mil and 218ha of land in Bestari Jaya for RM43.117mil.

“When Pakatan Rakyat took over Selangor, we had to commence global settlement with Talam,” said Kok, who was one of the speakers from DAP and PKR who spoke at a forum on the water and Talam issues. It was hosted by Subang Jaya assemblyman Hannah Yeoh last night.

Besides Yeoh, the other speakers included Petaling Jaya Utara MP Tony Pua and PKR strategy director Mohd Rafizi Ramli.