2 theSun
news without borders
KDSB proposes early
redemption of bonds
by Giam Say Khoon
newsdesk@thesundaily.com
KUALA LUMPUR: Port Klang
Free Zone (PKFZ) turnkey
developer Kuala Dimensi Sdn
Bhd (KDSB) has suggested
an early redemption of bonds
issued to finance the project
to help reduce costs from the
current RM4.6 billion to a
minimum RM3.2 billion.
KDSB deputy chief exec-
utive officer Datuk Faizal
Abdullah made the suggestion
at a three-hour inquiry by the
Public Accounts Committee,
its chairman Datuk Seri Azmi
Khalid told reporters yester-
day.
Azmi said the real cost of
the project was the interest
accruing on delayed payment
to KDSB by the Port Klang
Authority (PKA).
Faizal had explained to the
committee that by paying up
now, the cost of the project
could be reduced.
Azmi said that if the gov-
ernment redeems the bond
now, especially in light of the
current financial situation,
people would be willing to get
‘Terengganu Umno reps not joining PKR’
KUALA TERENGGANU:
State assemblyman for Ajil
Datuk Rosol Wahid has
denied a report on a news
portal that he and eight
other Terengganu Umno state
assemblymen were planning
to cross over to Parti Keadilan
Rakyat and topple the Barisan
Nasional state government.
Rosol said he and other
Umno assemblymen had
never discussed the matter,
although he admitted there
were still internal problems
in the party’s state leader-
ship.
“Such a thing will not
take place in our group. The
their cash back at a
lower bond price.
“In any case,
the government
will have to pay
(for the bond).
So in order to
(reduce the
cost), we can
just buy back
the bond at the
current price
without waiting
for it to mature (in
15 years); we can cut the
cost,” he said.
“From KDSB’s rough cal-
culation, it (the cost) can even
be cut down to RM3.2 billion
or RM3.5 billion. We have
suggested this and I think
the government is seriously
studying the matter.”
On allegations of over-bill-
ing against KDSB by a PKA
special task force looking into
the PKFZ scandal, Azmi said
Faizal had denied any over-
billing.
“It is not our duty to
determine if there is over-bill-
ing since the case has been
brought to court,” he said.
KDSB CEO Datuk Seri
rumours are only to create an
unpleasant situation among
the Umno state assembly-
men.
“What is sure is that we
are still BN representatives
... there is no compromise
on that. What is important
is to ensure our govern-
ment is strong, and we have
confidence in the leadership
of Datuk Seri Najib (Abdul
Razak),” he told reporters after
the second and last day of the
Terengganu state assembly
sitting yesterday.
Rosol was asked to com-
ment on a Malaysian Insider
report that nine Umno as-
Tiong King Sing
(left) arrived for
the inquiry at
9.30am but left
before it got
underway at
10.30am.
When met
at the parlia-
ment lobby,
Faizal said he
had tried to clarify
allegations against
the company of irreg-
ularities in the project to
the extent of RM500 million
to RM1 billion, in reports by
PricewaterhouseCoopers and
the special task force.
“We tried to answer some
of the questions but some
matters are already in court,
so it is not advisable (to dis-
cuss them) because it would
be sub judice.”
He also denied that the PKA
had been over-billed, as KDSB
had not been paid in full.
“There are more billions
to be paid over a period of
another seven or eight years,
so there is no over-billing. If
there is, we can do all the ad-
justments,” Faizal said, adding
semblymen led by him had
agreed to join the PKR and
would together with eight PAS
assemblymen form a new
government in Terengganu.
However, according to
the report, the move was
disrupted when Terengganu
PAS Commissioner and PAS
Dewan Ulama head Datuk
Harun Taib disagreed with
the plan. He was said to be
more comfortable cooperat-
ing with Mentri Besar Datuk
Ahmad Said.
Terengganu has 32 state
seats, with Umno holding 23,
PAS eight, and MCA one.
Asked about the non-
| THURSDAY AUGUST 27 2009
‘Notices of
Tiong lodges report
over RM10m ‘donatio
by Charles Ramend
ran
n’
newsdesk@thesundaily.
com
payment false’
» From Front Page
Perunding BE Sdn Bhd be appointed as the
chief
ala Dimensi Sdn Bhd sole quantity surveyor despite knowing that
PETALING JAYA: Ku i Tio ng Kin g Sin g lodged
Ser the same company had been engaged by
executive officer Datuk had
day, reiterating that he KDSB, leading to a conflict of interest.
a police report yester i On g Tee Keat a RM10
chi ef Da tuk Ser “KDSB, along with BTA Architect, had
given MCA
worked in concert to issue notices of payment
million donation. per
y is the turnkey develo to PKA which are false, erroneous or defective,
Tiong, whose compan e, file d the rep ort
etrade Zon which PKA believes is intended to mislead,”
of the Port Klang Fre pol ice headquarters at
Wa ngi dis tric t Lee claimed. He also alleged that the notices
at the Dang
of payment were fraudulent as claims were
noon. k
ged handover of cash too made for non-existent work.
However, since the alle wa s tra nsf err ed to
the rep ort Lee listed alleged irregularities and details
place in Petaling Jaya,
dquarters here. of the notices of payment as contained in his
the district police hea the
is also Bintulu MP and Aug 11 police report. They are that KDSB:
It is learnt Tiong, who clu b cha irm an, had
nch ers » made claims for RM5 million in respect of
Barisan Nasional Backbe g at
he gave the cash to On procurement of a performance bond and
said in his report that loc atio n on thr ee
another insurance premiums that it is not entitled
the PJ Hilton Hotel and to claim;
occasions. 10
ee payouts totalling RM » claimed RM254.8 million for monsoon drain
The breakdown of thr mil lion and RM 1 mil-
, RM 4 and water supply works that it is not entitled
million was RM5 million to claim under Development Agreement 3;
lion. ed
ef ACP Arjunaidi Moham » may have overclaimed RM79 million in
Petaling Jaya police chi ort and sai d police professional fees based on the Public Works
ng’ s rep
confirmed receiving Tio what
before deciding under Department’s standard form of agreement for
would need to study it the r com me nt. consultancy services between contractors and
lined fur
laws to classify it. He dec d
accepting the cash file consultants for a design and build contract;
Ong who has denied t aga ins t Tiong on » claimed RM55.8 million for the construction
atio n sui
a RM500 million defam of electrical infrastructure for 33kv system
Monday.
works which had yet to start;
» appeared to have overclaimed for hotel
that he works to the sum of RM24.9 million;
was happy with the outcome » claimed RM62.2 million for variation work
of the meeting. which arguably it is not entitled to claim, as
The committee will hear the procedural requirement under Additional
from former PKA chairman Development Works had not been complied
and PKFZ executive chairman with; and
PKA
Datin Paduka O.C. Phang on » claimed RM83 million for 33kv power sup-
chairman
Sept 1, and from former PKA ply to Precinct 2 and 8, civil infrastructure for
Datuk Lee
chairmen Tan Sri Dr Ting which had yet to be built.
Hwa Beng » Re-measurement by JUCB Sdn Bhd of office
Chew Peh and Datuk Yap
(left) arrives blocks and light industry units showed a cost
Pian Hon on Sept 2.
at the MACC difference of RM93 million.
headquarters » Contributions to the authorities for basic infra-
in Putrajaya structure were not made as required by Land
yesterday. Agreement 1 to the sum of RM2.3 million.
involvement of BN reps in
the question and answer
session and debates at the
assembly sitting, Rosol said
internal problems between
the party’s representatives
and the mentri besar had yet
to be resolved.
Without clarifying what
these internal problems were,
he said the matter had been
SAIFUL HIZAM MANSOR/THESUN
raised during a meeting with
the prime minister on Aug
23.
Rosol said the Umno
president had privided an
assurance that the political
crisis in Terengganu would be
resolved quickly. – Bernama