Tuesday, April 08, 2008

PKFZ: MOT to bare all?

Todays' theSun front paged a report, here, that the new Minister of Transport Ong Tee Keat has promised a full report which will put to rest the controversy over the RM4.6 billion Port Klang Free Zone (PKFZ) project. He said to uphold transparency, the government had the responsibility to explain the issue, which had been exploited by the Opposition in the last general elections. Asked when the report will be ready, he said it will be out soon once a thorough report is completed. “We will not just give a statement to explain everything. The report will explain the economic impact of the project on Selangor and the country."

Promises, promises.

Whatever happened to the much publicised investigation carried out by the parliamentary Public Accounts Committee headed by Shahrir Samad? A total waste of time and money, I believe, since it was not conclusive.

In another report, former Subang Jaya assemblyman and losing MCA candidate for the Kelana Jaya parliamentary seat Lee Hwa Beng (I didnt vote for him!) is poised to be the next chairman of Port Klang Authority (PKA). Sheeesh.

"When he takes over as chairman, Lee’s task will include resurrecting investor confidence in the RM4.6 billion Port Klang Free Trade Zone which has the potential of being a white elephant due to limited facilities that are not tailor- made to serve the needs of shipping and logistics companies," says theSun.

It is also learnt that the PKA will also see a new general manager this year as O.C. Phang’s tenure which ends in June will not be renewed. Phang, who has served as general manager for four terms which was quite unprecedented, has been largely blamed for PKFZ’s shortcomings as well as PKA’s dwindling cash reserves from RM500 million, which prompted the authority to seek a RM4.6 billion 'soft loan' bailout from the federal government to finance the project.

I for one, am hopeful that the new Selangor state government, which has recently expressed interest in acquiring the project for a token book value of RM1, will do a proper and thorough due diligence to uncover the truth behind the fiasco. (Read also my earlier blog, here).


  1. PKFZ hits the headlines today, but is this just another episode in the never ending saga of the PKPZ, sadly it may well be just that.

    Excuse me if I am sceptical, but it smells like vintage bullshit to me.

    Perhaps the only hope for a true investigation is through the new Selangor State Government efforts.

    OCP being replaced by LHB will in my opinion not be effective in restoring investor confidence in PKFZ, it may well have exactly the opposite effect!

  2. wijaya baru, one of the principal beneficiary and PKA shares a common head from MCA, isnt it? its clear as daylight the conflict of interest.
    is PKA a place where MCA can screw it big time? THe head is from MCA, the GM is from MCA. and they created the biggest scandal in the history of Malaysia.
    and you really think this guy from the same MCA party will come clean. better chance if the sun will to set in the east!

  3. Mindfool M and ancient M:

    Art thou left and right wingers at the ship's steering wheel at Klang Port -- don't run ito that 4.6billion cash berg, it may sink thy mv ASsLI boat. You left Master shipper's sonny boy behind and I have heard a rumour he was a billionaire by 27, then bankprut billionaire soon after. Did that sonnyboy help built that cash berg, Carl? If awe this is in DDC,blame it on Desi, screwed by all the brew/crew on board MCA-siliau-liau Eat Drunk and Be Silly Sinking Ship ahoy!:)__ DEsi

  4. capt., i admire you for the time you could spend to read between the lines of some bloggers. Maybe you need to explain the difference between the Chair and the GM of KPA to ssome, they are confused!!
    Anyway, after having got our throat coarsed for so many months, let's wait for the MOT , to see what would be revealed. Hitting the new comer without giving him the opportunity can make us look crude.By now we all know, there would be no return on ROI for sure!
    Since piratization begun through negotiated tenders, we knew all those projects would end up enslaving ALL MALAYSIANS financially, including the small time UMNO members [ the big timers of BN have no fear financially, all the increase is chicken feed or week-end pocket money [ Daim ].
    The next issue would be how much good money needed to be ploughed into this Black HOLE? Being at the wheel-house, you may have to keep course to achieve our objective! Don't lose hope, Capt.

  5. Ong Tea Cup and suicidal Lee Ah beng as PKFZ Orang Kerusi? It's gonne be another sinking ship on the horizon.


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