Wednesday, October 29, 2008
In an exclusive, Malaysiakini reports today, here, that a six-member team from the accounting firm of PricewaterhouseCoopers (PWC) has begun auditing the controversial RM4.6 billion 'soft loan' provided by the government to Port Klang Free Zone (PKFZ), according to Klang Port Authority chairman Lee Hwa Beng. The assignment is expected to be completed by the end of the year.
On why auditing has been delayed - when an announcement on this had been made in May - Lee attributed it to procedural requirements. Indeed, this is welcome news especially since for quite some time I have been trying to confirm rumours that the audit firm has not even received its appointment letter.
Transport Minister Ong Tee Kiat had entrusted Lee with appointing the auditor and to assist the parliamentary Public Accounts Committee (PAC) should the latter conduct a probe. Lee, however, said there has not been any follow-up on the matter by the PAC since he took over the post. This is hardly surprising since to my mind, PAC under previous chairman Shahrir Samad had failed to complete its much-hyped job when it did not summon the Attorney-General to explain the dubious PKFZ land deal.
If you recall, the Sun had reported in May that Lee has stated that PKFZ was a bad idea to start with. “People have no confidence in the ACA (Anti-Corruption Agency) or PAC (Public Accounts Committee), so this (audit) is the best option,” he also said. (Read my earlier posting on this, here).
Lets hope this wont be just another extravagant exercise in futility either.
Logged by The Ancient Mariner at 21:38