Friday, August 24, 2007

PKFZ - Bail Out! Bail Out!

Lets call a spade a spade, eh?

After keeping mum all this while, NST, the Star and other mainstream press today finally gleefully headlined a 5 page statement handed out by the Ministry of Transport in Pulau Indah which glossed over the entire sickening RM4.6 billion affair. Port Klang Free Zone (PKFZ) new general manager for business development K.L. Chia, who happens to be an old friend of mine and barely a couple of months in his hot seat, had to do the honours while the minister and other Lembaga Pelabuhan Klang (LPK) officials were conspicuously absent.

PKFZ Convention Centre

It boggles the mind that the Ministry of Transport has deftly side stepped the issues of accountability and good governance but instead hinted darkly that the Jebel Ali Free Zone Authority (JAFZA) which had cut short its 15 year management contract, was mainly responsible for the huge cost overruns. It would be interesting to hear what JAFZA will have to say about this. From what I hear their parting of ways was far from amicable and that the 'strategic' reasons JAFZA purportedly gave is a lot of bull crap.

TheSun newspaper today also questioned why didnt Kuala Dimensi Sdn.Bhd. develop PKFZ itself if the project was seen to be viable and a potential goldmine. The rakyat must be told who are the people behind all this. The fact that LPK is now bordering on insolvency and has to be bailed out with a dubious 'soft loan', the terms of which are still fuzzy leaves much to be desired. This will surely be the nation's biggest bail out to date.

It appears it is now left to the parliamentary Public Accounts Committee (PAC) to act and call for a probe into 'possible' corruption in the entire sordid affair. Malaysiakini also reports that Opposition leader Lim Kit Siang will make it the first order of business when the Parliament reconvenes on Monday to discuss the bailout, if he has his way that is.


  1. What to do lah?
    We have the biggest pirates on shore these days and not in the Straits.

  2. Whitewashing doesn't mask the smell of shit!
    Bull and horseshit don't baffle thinking brains!
    The truth always prevails

    Dear JAFZA pray lend an ear, you can lay it out loud and clear
    The guilty can then be made to walk the plank

    PAC please lend a hand to help expose the shameless pirate bands
    Else they'll be laughing all the way to the bank!!

  3. capt,based on the bloated figures designed even before the project was any where near completion,all the reasons given did not carry water.Even today at the rental rates within the premises of the current ports, the leasees are already passing the costs to the shippers who would certainly prefer to work outside the free zone area whenever they can find container hauliers to provide competitive rates just outside the fencing.Even the poor Business Head is thinking of revenue of only $40 million after so many years of operations on an investment of $4.653 Billions! Despite the poor maths standard of today's graduates, they will tell you that this sort of computation can only made by the pirates in the Malacca Strait! From the gravevines, a detail investigation by PAC in public should be the only to the truth.

  4. CKC blaming JAFZA for the costs overruns does not explain the 'high' costs for land acquisition by KPA from KD, does it?

    Obfuscation at work, eh captain.

    So what can we say to AAB's private funding initiative (PFI) projects?

    "You krony, soft loan ada tapi mesti ada grease sikit ya".

    Let's see now. PKFZ, done. IDR, NCER coming up. Man, these guyz have hit the motherlode.

  5. This Kuala Dimensi bought the land for RM3 and sold for RM25. Is this eradication of poverty under NEP? Does this transaction benefits many bumiputras or only those few in Kuala Dimensi?

    Do the common bumiputra knows what are they supporting when their leaders start wielding keris and racial remarks purportedly "untuk perjuangan hak Melayu".

    Unless and until the common bumiputra really realise what is going on, they will be continously taken for a ride for blindly supporting the NEP.

    Fortunately, they know the common malay weakness, "Melayu mudah lupa", so they thrive on.

    NEP is good provided it is implementted according to its true spirit and not being used as a tool for these bunch of greedy idiots to rape the country at the expense of common rakyat.

    We have to educate and help the common malays to see thru this, so that our country can prosper under greater unity and harmony.

  6. The PKZ pirates make the much said Straits of Malacca pirates looks like a puppy.

    For God sake Goverment money = taxpayer money = duit rakyat !!! Stop the plundering.

  7. Salam Capt yusof:

    In the mid 70's the movie saturday Night fever came to our shores. And we see lots of ppl walking arrogantly like the Travolta character and pointing to the ceiling when songs are played.

    30 years, Travolta is too old to do disco dancing, but we still have lots of ppl in high places who take the dance steps popularised by travolta esp the Pointing Finger part.

    This PKFZ reminds me of the failed prawn project in Kedah( can't even recall its name....)

  8. Mr Dubai

    Please rebut these vampires of the highest corrupt order thru the various avialable websites. Forget going to the mainstream presses ( except the SUN) as your replies would not see daylight.
    These vampires need to be cruxified in broad daylight.
    Capt Yusof, please continue to bite and dont let go. Let as many Malaysians know what these vampires have done.

  9. "...while the minister and other Lembaga Pelabuhan Klang (LPK) officials were conspicuously absent".

    Not only are they liars and thieves, they are also cowards. Unfortunately, we Malaysians are still in the habit of bowing and groveling in front of them like they are some minor gods whenever they do decide to honor us with their presence, by insisting on calling them YB, smiling at their stupid statements, laughing loudly at their cheap jokes and, in general, being very pleased to be seen in their august company.
    If we let them know what we genuinely think of them in their stuffed faces, since they all seem to be in lala land like their big boss,it may hopefully engender some accountability - and make us less of hypocrites to boot.

  10. Captain,
    What plebian said is apt as you have to buy low and sell high to profit. The fishermen's association was made use of by these people. It was all in the design. Maybe they even helped the association to apply for the land obtain the necessary approval from the state government. All the pricing, buying and selling was dictated by them. They could have bought it at any price since at RM25 per sq ft was way beyond the RM15/sf ft evaluated by certain quarters.
    I believe the Ministry of Transport was conned into believing that their letter of support wasnt meant for anything but just for a letter of support and never a letter of guarantee, which the Banks took it to mean. Now Chan Kong Choy is having a big headache and is taking 2 weeks medical leave. Unless he was working in cohort with these pirates, he must have been taken for a ride.

  11. capt, i'm not certain if zawi reads the 'line' implying the innocence of MOT! Don't ever let them fool you, they WERE and ARE all into IT! Many of our YBs just pretend to be ignorant of such acts but putting their hands into the spoils is all they want to do. It is so obvious, the 1st phase was already taken care of, then came the 2nd phase. It was all planned from day one!


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