10 years at RM20 million per year rip-off

ARCHIVES 2013

By MT Webmaster On Sep 14, 2013

Several Malaysian Match Racing Circuit (MMRC) sailors have cried foul as the organisers, T-Best Events Sdn. Bhd, have yet to pay them last year’s prize money. “We have already paid 90 per cent of the annual RM20 million grant. Don’t blame us by saying we are bad paymasters,” fumed Shabery.

THE CORRIDORS OF POWER

Raja Petra Kamarudin

Patrick Lim a.k.a. Patrick Badawi

Sailors cry foul over late payment

Several Malaysian Match Racing Circuit (MMRC) sailors have cried foul as the organisers, T-Best Events Sdn. Bhd, have yet to pay them last year’s prize money.

MMRC tour champion Jeremy Koo (KFC Malaysia/Koo Racing Team) said he is hoping to hear some good news soon.

“We (sailors) signed a contract with them (T-Best) which states payments will be cleared within 45 days of the race completion,” said Jeremy.

“I won the last stage of the MMRC tour in Pulau Duyung, Terengganu in November and I have not received that payment and the bonus for representing Malaysia in the Alpari World Match Racing Tour’s season finale, the Monsoon Cup, in December,” said Jeremy.

“According to T-Best, is they have not received the funds from the Sports Ministry. How can that be? Weren’t they were supposed to have those funds last year?”

Patrick Lim and Kamal Badawi

Besides Jeremy, who is supposed to receive RM58,000 – RM8,000 for winning the final stage of the MMRC and RM50,000 as the Monsoon Cup bonus – Hazwan Hazim Dermawan (Permai Hotel Match Racing Team) and Harisfabillah Muhammad (Royal Malaysian Navy Match Racing Team) who came in second and third at the final stage of the MMRC respectively have not received their prize money as well.

“I am supposed to receive RM5,000 for coming in second in Terengganu. When I contacted T-Best, they told me I sent my invoice late.

“When I insisted that was not the case, they told me that they have not received the funds,” lamented Hazwan.

Harisfabillah said: “I am not sure what is happening, but I have heard rumours T-Best will be shutting down soon.”

Jeremy added: “I am really worried as this is our career. We rely on prize money to continue our training and pay for sailing matters that cost a bomb.”

When contacted, T Best claimed they haven’t received the money from the Sports Ministry.

http://www.sports247.my/2013/03/sailors-cry-foul-over-late-payment/

WHERE’S THE MONEY: The top three winners are still waiting to be paid.

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Don’t drag us into your mess, Shabery tells T-Best

SPORTS MINISTER Datuk Seri Ahmad Shabery Cheek has warned T-Best Events not to pin the blame on the Sports Ministry over the late payment to winning sailors in the Malaysian Match Racing Circuit (MMRC).

Shabery even cautioned his ministry may re-look its yearly grant if the money has not been well spent.

Shabery admitted the Ministry has yet make full payment but as previous years, that will only be done once T-Best submits the final audited reports.

“We have already paid 90 per cent of the annual RM20 million grant. Don’t blame us by saying we are bad paymasters,” fumed Shabery.

“This has been the same procedure for the previous five years. We are still waiting for their final audit report. It is not fair of them to blame the Sports Ministry.

JOY TO DESPAIR: Jeremy Koo and his Koo Racing Team crew celebrated qualifying for the Monsoon Cup, but have yet to collect their winnings.

“The payment of prize money is between T-Best and the sailors. They cannot shift responsibility to us. When you run a shop, you have to ensure there is enough money to roll, the same applies in this case.”

On Saturday, sports247.my revealed T-Best had yet to pay last year’s prize money to Jeremy Koo (KFC Malaysia/Koo Racing Team) who won the title as well as Hazwan Hazim Dermawan (Permai Hotel Match Racing Team) and Harisfabillah Muhammad (Royal Malaysian Navy Match Racing Team) who came second and third.

T-Best claimed they had not received the money from the Sports Ministry, but after the article came out, Jeremy’s bank called to inform him on Tuesday that RM8,000 had been deposited into his account.

Hazwan (RM5,000) and Harisfabillah (RM2,000) also confirmed receiving their prize money.

Jeremy, who qualified for the Alpari World Match Racing Tour season ender – the Monsoon Cup – is still owed RM50,000 as the prize bonus for that event.

The prize money for the MMRC and Monsoon Cup was supposed to be paid 45 days after the end of each competition.

The MMRC ended on Nov 30 and the Monsoon Cup on Dec 8.

Amid speculation that T-Best may cease operations, Shabery confirmed the Ministry is re-looking their annual grant.

“It is a huge amount. We have to be responsible and get justification for what has been spent. If everything is in order, then there is no problem in continuing the funding.

“I have met T-Best to obtain information. We need to see if we want to extend our contract and commitment to T-Best in organising these events,” said Shabery.

http://www.sports247.my/2013/03/dont-drag-us-into-your-mess-shabery-tells-t-best/

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Patrick Lim’s horses of card come tumbling down

It all seems to be going wrong for Patrick Lim. And not just on the East Coast.

First, his RM25 billion Penang Global City Centre project has all but been killed off as a result of a concerted campaign by Penang civil society groups to save the Turf Club land on the island.

Then, the Penang state government fell to opposition hands with even the Chief Minister soundly defeated. (The last time someone tried to muck around with a treasured landmark in Penang was in the late 1980s, when Vincent Tan’s Berjaya was eyeing Penang Hill. Civil society groups rose up in arms and mobilised the Penang people to oppose the greedy development. Perhaps that contributed to then chief minister Lim Chong Eu’s stunning defeat – and a setback for the Penang BN – in the 1990 general election. Some people never learn from history…)

Now, Patrick Lim’s Equine/Abad Naluri has failed to deliver the new race-course in Batu Kawan on the mainland that it was supposed to build for the Penang Turf Club. In 2004, Abad Naluri entered into an agreement to acquire the Penang Turf Club site in Batu Gantung on the island for RM488 million. As part-payment in kind, it was supposed to build a “state of the art” race-course in Batu Kawan worth about RM375 million and hand it over to the Turf Club by 2007, whereupon Abad Naluri would pay the balance of about RM100 million to the Turf Club. That clearly has not happened.

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Patrick Lim wife Mansion (or Badawi RM 60 Million Massion as claim by Dr. M) – Details

Patrick Lim and PM Badawi

Datin Wong Mun Yee @ Mrs Datuk Patrick Lim @ owner Kamaluddin Badawi’s house

The following extracts from documents in the public domain tell a story about Equine Capital’s Patrick Lim Soon Kit, his wife Wong Mun Yee @ Cindy Lim, one Kamaluddin Abdullah Badawi, a self-made millionaire (or billionaire), and his father, Prime Minister of Malaysia, Abdullah Badawi.

A) Datuk Patrick Lim Soo Kit is a substantialshareholder of the Company (Equine Capital) with indirect interest of 22.63%. He is the husband of Datin Wong Mun Yee and nephew to Lim Ah Yee and Lim Ah Chai. Datin Wong Mun Yee, Lim Ah Yee and Lim Ah Chai are also substantial shareholders of the Company with indirect interest of 22.63%. (Equine Capital Bhd, 2004 Annual Report, pageS 16-17)

B ) 34 Bay View Terrace, Mosman Park An Extract from the Certificate of Title:Registered Proprietor: Mun Yee Wong of 2/19 Melville Beach Rd, AppleCrossRegistered 11 March 2004Encumbrances: Mortgage to National Australia Bank, Registered 11 March 2004