Friday, July 6, 2012

Re: RG2011... Skandal RM1 Bilion Kerajaan Selangor Serius

bro....kalau agak2 tak faham article bawah nie.....janganlah malu
bertanya......
tak pun tanyalah google bak kata KJ

Dr Dzulkefly Ahmad is a member of the PAS central working committee
and MP of Kuala Selangor.
RM1b Selangor scandal?

July 06, 2012JULY 6 — The Talam controversy has again surfaced. It
couldn't have come at a worse time than now. It is meant to inflict
the greatest damage on its primary targets — Selangor and its mentri
besar — ahead of a looming election.

The last time it appeared on national stage, the immediate casualty
was none other than the secretary-general of PKR, who went after Tan
Sri Khalid Ibrahim.

A controversial and enigmatic figure, Datuk Salehuddin Hashim had to
be urged to back down when it became untenable and his antics
surpassed the tolerance of party leaders and supporters.

This time, however, the issue is being brought up by a political
adversary: The MP for Labis and Deputy Minister Datuk Chua Tee Yong.

Although recognisable through his political lineage, the fact that his
MCA party is leading the charge is baffling, to say of the least.

"Why MCA and not Umno?" is a question from all discerning Malaysians
that begs an immediate response.

With his lack of finesse or mastery of the matter exposing his failure
to grasp the subject, Chua has placed himself in the guillotine. Is
this an internal attempt to finish him off?

His allegation of a RM1 billion scandal involving the Selangor
government, a public-listed company and abuse of public funds is a
"stunner" of sorts, as the ailing Barisan Nasional wants to paint
Pakatan Rakyat as equally corrupt and corruptible.

His insistence that the Pakatan Rakyat government of Selangor had also
earlier given a RM392 million grant to Talam revealed that he is
clueless about the mechanics of "round-tripping".

His claim that the state acquisition of the RM676 million worth of
assets and the usage of the RM392 million grant resulted in the RM1
billion deal, is even more atrocious.

Lest you think I will take more pot shots at him in this saga, you are wrong.

Instead, I will be more merciful and explain the matter.

In a financial manoeuvre known as "round-tripping", the state
government takes over the debt from the state subsidiaries to squeeze
Talam directly to fulfil its debt obligation.

The procedures could be summarizes so:

1. Confirmation of debts — An amount of RM392million was agreed upon
and an agreement signed by Talam and the various state subsidiaries,
namely KHSB, PIYSB and PNSB, to confirm the debts owed by Talam.

2. Assignment of debts agreement — Talam and the state subsidiaries
later undertook an agreement to assign the debt to the state
government. The state government now takes full ownership and the
responsibility of recovering the Talam's debt.

3. Receivable purchase agreement — The state government initiated the
move by firstly getting the Selangor Industrial Corporation (SIC) to
purchase the debt owed by Talam, from the state government, by paying
RM392 million to the latter firm. In order to execute the purchase,
the SIC had earlier borrowed from a bank (CIMB) the equivalent amount
of RM392 million. That is the first receivable purchase agreement in
place.

4. Receivable purchase agreement — Acting merely as a "conduit" or a
special purpose vehicle for the whole exercise, the SIC now sells this
debt to Mentri Besar's Incorporated (MBI), an investment arm of the
state government. MBI will receive a grant from the state government
for RM392million to use as payment to SIC.

Since Selangor did not have that allocation in the state's Budget for
2009, the meeting of the Selangor state executive council on November
2 witnessed the tabling, debate and decision to approve to MBI the
grant of RM392 million from the state government.

A supplementary supply (budget) enactment was later tabled and
endorsed by the State Legislative Assembly on the November 9 for the
grant of RM392 million to be allocated to MBI, in the light of the
execution and realisation of the debt-restructuring exercise.

Subsequently, MBI then bought over the debt from SIC by signing the
second receivable purchase agreement and paying RM392 million in cash
on November 10.

With the cash payment received from MBI, SIC pays off the loan it took
to initiate the whole cascade of the debt-recovery exercise.

The "round-tripping" ends with SIC paying off its borrowing and the
entire cost sustained by the state government only pertains to the
legal and financial cost of borrowing undertaken by SIC.

As for the amount of RM140,000 (or RM70,000 a day) bandied about, I
was unable to ascertain this actual cost. Legal and financial
consultations were taken care of, as it was handled in-house through
the use of expertise within the state's administrative staff,
including that of the good office of the mentri besar.

If you also think that I'm an apologist for the MB, you got me wrong again.

I thought the white paper now mooted by the MB should have been
presented ages ago, and all claims of assets purchases and their
valuations ought to have been disclosed by a government committed to a
openness, transparency and accountability.

Writing in this limited space, I am unable to fully debate or discuss
at length the options and alternative views regarding each
alternative.

Three years down the road, the white paper, once available, will
surely explain the matter to all, albeit belatedly.

The gross fiscal mismanagement of the Barisan Nasional government will
now be widely exposed.

In hindsight, I think the MB has a game plan for the long delay.

Barring anything unforeseen, it may or may not clear the air.

Whatever it is, the onus is now on the mentri besar.

* The views expressed here are the personal opinion of the columnist.




On 02/07/2012, shreddervirtuoso <shreddervirtuoso@gmail.com> wrote:
> Skandal RM1 Bilion Kerajaan Selangor
> Serius<http://www.klpos.com/politik/5237-skandal-rm1-bilion-kerajaan-selangor-serius>
> Monday, 02 July 2012 12:40 Tun Izhalmi
> [image:
> E-mail]<http://www.klpos.com/component/mailto/?tmpl=component&link=489d73ebbe4b8786f49ca2dc47787ef16678a146>[image:
> Print]<http://www.klpos.com/politik/5237-skandal-rm1-bilion-kerajaan-selangor-serius?tmpl=component&print=1&page=>
>
> [image: alt]
>
>
>
> PETALING JAYA, 2 Julai - Koordinator Barisan Nasional (BN), Datuk Seri Mohd
> Zin Mohamed berkata, Pakatan Rakyat perlu menjelaskan kepada rakyat kenapa
> aset yang dimiliki oleh syarikat-syarikat berkaitan kerajaan telah
> menyusut.
>
>
>
> Beliau berkata demikian sebagai mengulas pendedahan Ketua Biro Muda
> Profesional MCA, Datuk Chua Tee Yong menyatakan menerusi beberapa
> tulisannya di Twitter mengenai kontroversi itu pada Ahad bahawa beliau akan
> mendedahkan "skandal yang melibatkan penyelewengan dan urusan bernilai RM1
> bilion".
>
>
>
> Mohd Zin turut menambah pendedahan tersebut amat serius kerana melibatkan
> kepentingan awam dan merupakan satu 'tamparan' terhadap pentadbiran
> kerajaan negeri yang dibelenggu dakwaan perolehan peruntukan RM300 juta
> dibawah geran Selangorku Sayang adalah dari sumber yang meragukan.
>
>
>
> Sebelum itu, Chua Tee Yong mendedahkan akan membongkar sebuah syarikat yang
> disenaraikan dan penyalahgunaan wang rakyat RM1 bilion yang melibatkan
> kerajaan negeri Selangor.
>
>
>
> Chua berkata, beliau menerima maklumat mengenai urusan yang tersembunyi di
> sebalik transaksi yang merumitkan malah berkaitan dengan pemindahan aset,
> taktik penstrukturan semula dan pelaksanaan korporat.
>
>
>
> "Pakatan Rakyat yang mendakwa mereka begitu cemerlang dalam ketelusan, saya
> mencabar mereka untuk mendedahkan butiran mengenai transaksi itu," kata
> Chua, yang juga Timbalan Menteri Pertanian dan Industri Asas Tani.
>
>
>
> Chua, yang merupakan seorang akauntan dan bekas ketua pegawai kewangan di
> sebuat syarikat berkaitan kerajaan (GLC) berkata: "Saya akan mendedahkan
> lebih banyak butiran supaya rakyat dapat membuat penilaian sekiranya
> Pakatan Rakyat menunaikan jani mereka atau hanya membuat janji-janji
> kosong."
>
>
>
> --
> *More story log on to
> http://www.bazookapenaka.com*
>


------------------------------------

" Minuman para Anbia : http://higoat-2009.blogspot.com/"

" Anda masih mencari jodoh? Lawati http://www.myjodoh.net"

" Kertas Soalan Ramalan Matematik 2010 : http://maths-catch.com/exam"

" Kedai Maya : http://halawahenterprise.blogspot.com/"

" Blog Sahabat RG : http://azwandengkil.blogspot.com"

Terima kasih kerana sudi bersama kami. Untuk mendapatkan maklumat lanjut tentang ReSpeKs Group, sila ke : http://respeks-group.blogspot.com.
Segala email yang tersiar melalui Respeks Group adalah tanggungjawab penulis asal email. Owner atau moderator tidak bertanggungjawab ke atas setiap email yang disiarkan dan sebarang dakwa dakwi tiada kena mengena dengan moderator group.

Yahoo! Groups Links

<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/respeks_group/

<*> Your email settings:
Individual Email | Traditional

<*> To change settings online go to:
http://groups.yahoo.com/group/respeks_group/join
(Yahoo! ID required)

<*> To change settings via email:
respeks_group-digest@yahoogroups.com
respeks_group-fullfeatured@yahoogroups.com

<*> To unsubscribe from this group, send an email to:
respeks_group-unsubscribe@yahoogroups.com

<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/

No comments:

Post a Comment