The Grand Scheme of Stealing Billions by Penang Chief Minister
In ringgit terms Lim Guan Eng is plotting to steal RM1 billion loan, RM 183 million in cash, RM2 billion in exorbitant charges, RM300 million exorbitant charges (from feasibility studies and detailed design) and RM19 billion (equivalent to 727 ha of lands) from Penangites.
Ong Eu Soon
Under the South Reclamation Scheme, Lim Guan Eng administration is supposed to pay RM19 billion for the three man-made islands located near Permatang Damar Laut spanning 930ha , 445ha and 323ha.
The total reclaimed areas is 1698 ha or 182,962,318 sqf.
This means that Lim Guan Eng’s administration is supposed to pay RM104 psf for the reclamation.
If Lim Guan Eng sells the rights of reclamation RM1 psf like Koh Tzu Koon’s administration, the state government will receive a total RM183 million in cash.
The 1698 ha of lands is the payment for RM46 billion. For the RM27 billion payment for Penang Transport Master Plan project the land required is 970ha.
If the deal is done as per the practice of Koh Tzu Koon’s administration, the state government is supposed to receive RM183 million for selling the rights of reclamation and additional 727 ha of land.
To finance this grand scheme of stealing RM 183 million and 727ha of lands from Penangites, Lim Guan Eng is planning to take a loan of RM1 billion from China Exim Bank.
This saga is the continuation of the Penang Roads and Tunnels project scandal where Lim Guan Eng’s administration purposely allowed a RM2 company to overcharge Penangites RM2 billion.
In 2011 at Rasa Sayang, Lim Guan Eng announced to a group of people about the state government’s efforts in upgrading the state infrastructure involving a RM4 billion Roads and Tunnels project.
The state government subsequently awarded the said project to Zenith Bucg at a cost of RM6.3 billion. The difference in cost of more than RM2 billion led to the criticism by the state’s opposition, Gerakan. Lim Guan Eng conveniently attributed it as a typo.
In Dec 27 2013 China Reuters reported that China Railway Construction Corporation announced to the China stock exchange that it’s subsidiary in Malaysia has obtained a US$1.19 billion Roads and Tunnels project in Penang.
Earlier the company website reported the subsidiary also secured the $22 million details design job for Penang Roads and Tunnels project.
The exchange rate for ringgit per dollar between 2011 and 2013 was about 3.18. If using the exchange rate of 3.4 then the US$1.19 billion is approximately equivalent to RM4 billion.
It can’t be a coincidence that the cost of the project announced by Lim Guan Eng is approximately equivalent to the cost announced by China Railway Construction Corporation.
It is clear that Lim Guan Eng’s adminstration had intentionally allowed Consortium Zenith Bucg (CZBUCG) to secure the project at RM6.3 billion and thus allowed CZBUCG to earn RM2 billion without much effort.
In Canada, the people complained when the government spent $700,000 for a feasibility study.
In Penang, spending RM180 million for feasibility studies is not considered exorbitant.
It was reported in the past that the RM305 mil will fund the feasibility study at RM183 million, detailed design for RM92 million, and environmental assessment for RM33 million.
How come now the cost of the studies is RM31 million for the three paired roads and RM20 million for the tunnel?
Feasibility and EIA studies are not yet completed, how can detailed design work start?
Why pay for incompleted jobs?
The feasibility studies and detailed design should cost only RM5 million instead of RM305 million.
In his efforts to mislead Penangites in particular and Malaysians in general, Lim Guan Eng was laughing at Koh Tzu Koon for selling the rights of reclamation at RM1 when he actually plans to pay RM104 psf for the reclamation.
This is a grand scheme of stealing RM1 billion loan, RM 183 million in cash, RM2 billion in exorbitant charges, RM300 million exorbitant charges (from feasibility studies and detailed design) and 727 ha of lands from Penangites.
In ringgit terms Lim Guan Eng is plotting to steal RM1 billion loan, RM 183 million in cash, RM2 billion in exorbitant charges, RM300 million exorbitant charges (from feasibility studies and detailed design) and RM19 billion (equivalent to 727 ha of lands) from Penangites.
The black eye that I received in August 17, 2014 was a deterrent to prevent me from stopping this grand scheme of stealing RM1 billion loan, RM 183 million in cash, RM2 billion in exorbitant charges, RM300 million exorbitant charges (from feasibility studies and detailed design) and RM19 billion (equivalent to 727 ha of lands) from Penangites.
This is probably the most expensive black eye ever recorded in modern human history.
I wonder just how long the MACC wants to ignore my reports over the stealing of state’s assets and money by Lim Guan Eng.
