The decision by the Transport Minister, Datuk Seri Kong Cho Ha to override the decision of the Port Klang Authority (PKA) and direct it to pay its Port Klang Free Zone (PKFZ) bond obligation of RM222.58 million to Freezone Capital Bhd (FZCB) is another proof that his topmost concern and those of the Najib Cabinet is to bail out the PKFZ turnkey contractor Kuala Dimensi Sdn. Bhd (KDSB) rather than to do justice to the 27 million Malaysian people in the RM12.5 billion PKFZ scandal.
The PKA Board had acted properly in expressing reservations on the payment of RM222.58 million to KDSB’s special purpose vehicle, FZCB, because of an RM1.4 billion ongoing suit and considering withholding payment because of its worry that it may not be able to recover funds from KDSB.
Kong’s decision is all the more deplorable as it has now been revealed that KDSB had given undertakings that it will cover any shortfall in bond repayments should PKA fail to do so, making it KDSB’s problem and not that of Malaysian taxpayers.
It has been a full year since the Prime Minister, Datuk Seri Najib Razak announced the formation of a 11-member PKFZ “super taskforce” headed by the Chief Secretary Tan Sri Mohd Sidek Hassan which, among other things, would determine the type of misconduct or criminal element on the part of individuals or entities involved in the project and recommend actions to be taken against them.
However, action on this front in the past year had been minimal, apart from the prosecution of four mid-level officials.
Not a single “big fish” had been arrested although there is hot buzz on the grapevine that “a big fish” would be hauled into court today.
The PKFZ “super task force” is also entrusted with recommending measures to improve governance as well as PKFZ’s management; assess PKA and PKFZ’s financial situation, prepare a restructuring plan for the PKFZ, formulate business models for the PKA and PKFZ, and recommend strategic plans to attract local and foreign investors.
Although the PKFZ “super taskforce” is required to submit reports to the government within six months and from time to time, nothing is known about its activities and reports.
The time has come for all the reports of the PKFZ “super taskforce” to be made public to account for actions taken by Najib administration on the RM12.5 billion PKFZ scandal in the past year.