Tuesday, June 30, 2009

Sue lah but no moolah

Malaysiakini today reports, here, that the Port Klang Authority is ready to face litigations by withholding RM660 million due to Kuala Dimensi Sdn Bhd for the Port Klang Free Zone project. PKA chairperson Lee Hwa Beng said the amount would not be paid to Kuala Dimensi until a full review has been done by a task force established on June 10.

The PKA was supposed to have paid RM660 million - alleged debts in the words of Lee - to Kuala Dimensi's Special Port Vehicle Bhd, Transhipment Megahub Bhd, Valid Ventures Bhd and Free Zone Capital Bhd in four parts this and next month. A total of RM330 million is due to be paid to KDSB by today (June 30) while a further RM300 million will be due in July.

An audit report by PricewaterhouseCoopers has revealed that Kuala Dimensi had so far received total payments of more than RM1 billion from PKA since 2007 for the PKFZ project. But KDSB's Faizal Abdullah was reported to have said that they have received only RM300 million or thereabouts. So in the words of my friend Shar101 ... what gives?

The following are the payment schedules obtained from a DAP website::

2007 - RM510 million
2008 - RM660 million
2009 - RM660 million
2010 - RM772 million
2011 - RM487 million
2012 - RM733 million
2013/2016 - RM170 million per annum
2017 - RM179 million

Total - RM4,681 million.

No comments:

Post a comment

Dear Reader,

This blog promotes freedom of speech and I invite fair comment. This is not a chat room and I would appreciate if you could identify yourself. However, if you prefer to remain anonymous please note that remarks that are deemed grossly inappropriate, maliciously defamatory, extremely vulgar or ad hominem attacks (against my person) will be deleted.

Thank you for visiting and commenting.

The Ancient Mariner