MCA leaders, including Housing and Local Government Minister Datuk Seri Chor Chee Heung, lined up to give support to former MCA President and Transport Minister, Tun Dr. Ling Liong Sik after he was charged with cheating the Cabinet in the RM12.5 billion Port Klang Free Zone (PKFZ) scandal.
Without commenting on Ling’s case, Malaysians are entitled to expect that MCA Ministers and leaders should show at least equal concern for “Justice for 27 million Malaysians who are victims of the RM12.5 billion PKFZ scandal” than “Justice for Ling Liong Sik”.
What have the MCA national leadership, and in particular the four MCA Ministers, done to ensure justice for the 27 million Malaysians in connection with the PKFZ scandal?
Did the MCA national leadership and the MCA Transport Minister Datuk Seri Kong Cho Ha prioritise the interests of the 27 million Malaysians when he overrode the decision of the Port Klang Authority (PKA) and directed it to pay its PKFZ bond obligation of RM222.58 million to Kuala Dimensi Sdn Bhd (KDSB) special purpose vehicle Free Zone Capital Bhd (FZCB)?
Does the MCA national leadership and the MCA Cabinet Ministerial bloc agree with former MCA President and Transport Minister Datuk Seri Ong Tee Keat that it is “a foolhardy move” to “pay according to what has been decided much earlier, according to the schedule that was set a long time ago”, ignoring latest developments, new facts and “missing link” in the PriceWaterhouseCoopers Advisory Services report, viz:
• Letters revealing that KDSB had given undertaking or guarantees that it would cover any shortfall in repayments towards the bonds should PKA fails to do so;
• The dubious legal status of “Letters of Support” given by two former MCA Tranport Ministers, Tun Dr. Ling Liong Sik and Tan Sri Chan Kong Choy; and
• At least RM1.4 billion in disputed claims for all principal agreements between KDSB and PKA, of which more than RM2 billion payable as scheduled until 2017.
The present MCA national leadership and the MCA Ministerial bloc must prove the former MCA President and Transport Minister wrong in his serious charge that they are party to “sweeping the dirt under the carpet” by being in the very forefront to ensure:
• No stone is left unturned in the full public accounting of the PKFZ scandal, from the controversial PKA purchase of PKFZ land; ballooning of PKFZ costs from RM1.1 billion to RM4.6 billion and snowballing into a RM12.5 billion scandal; and the four illegal “Letters of Support” by two former MCA Transport Ministers.
• Putting utmost pressure for everyone who had a role in the PKFZ scandal, however “big the fish”, should be hauled to court to face corruption, abuses of power and criminal breach of trust charges.
• The suspension of PKA payments to KDSB special purpose vehicles in connection with the RM4.6 billion bonds.
There..what is MCA is revealed so clearly.
You think they really care for 27 million Malaysians and they are politicians for the people?
It has always been a racist and selfish party.
I have a strange feeling…Tee Keat is happy.
MCA is split …exactly like UMNO B……but UMNO b hangs on to power with their own elected results.
MCA feel no shame being voted out and depended on Najib to give them life.
You expect MCA to feel for Malaysian’s RM12.4 billion looses….to expose UMNO B corruptions?
So why support Ling Liong Sek.
He is big and powerful enough to stand on his own two feet..but have he the balls to stand on his own.
So what is MCA…a balless selfish party…that shame Malaysians Chinese since Mahathir too over…and encouraged by none other that Ling Liong Sik…well known to be Mahathir’s running dog.
Yes a dog he is…and so many household dogs are named “Liong Sik” too.
Will he redeemed all his sins by exposing all…risking his son’s future?
DREAM ON.
Voters do well to stay away from political parties that protect members who have committed criminal offenses.
Remember dollah who charged eric cheah & kasitah gaddam with corruption in 2003?
After sweeping the 11GE, the 2 monkeys were conveniently discharged
Dr Ling’s high profile charging coincided with the international law conference in KL. The AG, PM, other senior officials are boycotting this event.
It was meant to ‘show’ the world that we are ‘serious’ about combating corruption. It was to steal the thunder from the conference and to divert attention from the embarrassing DPP – Saiful trysts incident.
Getting a conviction is another matter but their track record is not good at all. Another flimsy performance is expected. Why these failures continue to hold office the public wonders.
Poor Ling being ‘used’. They didn’t even give him time to dress up properly but to let him be seen as a scruffy person.
No respect for a ‘Tun’, a former senior minister, and former MCA President.
This is an indirect affront on the impotent MCA.
While we are at the PKFZ issue, please don’t forget the fishy tuna bonds! It is the same modus operandi – conspiracy to fraud using “GOVERNMENT” BONDS. Let me repeat the method.
1. An agency identifies one moronic project (it has to be big);
2. The project should be commercially viable and self financed (but this is only a show);
3. The private entity selected to implement the project (their cronies like bintulu MP) needs to raise the money;
4. But what better way than to issue bonds;
5. but bonds are useless (because they know the projects are not viable) unless these bonds of guaranteed;
6. so the private entity would ask the govt agency to issue the letter of support;
7. the letter of support are then used as the basis to evaluate the bonds by the rating agency (but the rating agency ought to know letter of support is NOT letter of guaranteed ordinarily issued by MOF); actually rating agency should be sued.
8. the bond arrangers and deal makers market the bonds based on letter of support (but as sophisticated deal makers they cannot claim they don’t know letter of support issued by agency is very different from letter of guarantee issued by MOF);
9. savvy investors invest in these bonds based on letter of support (here again, I think the investors ought to know the letters of support are not good enough)
10. but what the heck, they all know this is a conspiracy;
11. when the problem start to explode, the Treasury would quickly honour the bonds when under our system of government only the MOF can borrow on behalf of the govt.
12. the AG also very quickly interpreted the letters of support as good, and the government must honour these letters.
Can you see how they conspire to cheat? The govt agencies, in this case MOT or Ministry of Agriculture would claim innocence because they only issue the letter of support. The rating agency and bond dealers and investors claim innocence because they thought the letter of support issued by a govt agency is good enough. The treasury claimed innocence because they said they have no choice since one of the govt agencies has issued the letter of support and so the govt must honour it. And who said so, the AG. So they can repeat the same method over and over again. That is why I believe the opposition must insist the government default the payment to bond investors. This is the only way they will learn: they can’t continue to invest in “junk” bonds thinking that the government will bail them out.
Oh dear. Wot a mess umno! Wot a nice big mess. Didnt cintanegara, kassim and gang advise you lot wot to do and the follow-up actions? There. There. Take note. Seek their views before your next move if you umno do not want to score another own goal. Election is near. Every goal scored or conceded counts.
The rotten fish head is being punished and the fish body is protesting. This should have been apparent to you lot. If they do not protest, then their silence is as good as testimony on ling’s guilt or at least on ling’s involvement / participation somehow in the scandal. If they protest (which they are now doing), then they could be saying either (1) ling is in the clear; or (2) ling is being made to eat dead cat carcass and there are others who were involved.
12.5b is too large a sum and ling was then the min in charge. It is not possible for him to be in the clear. Just ask around. So victimisation is the only possibility here. Ling is turned into a scapegoat. Now chinese in the country is not pleased at all – not that they support mca (they dont) but that they cannot bear umno’s bullying and blaming ways. Someone else must also be concerned with the scandal and chinese in the country just cannot bear the thought that those others were allowed to roam free.
The fear of losing power has forced the ruling umno/bn to put up an “action movie” with no conclusion or ending, to placate the public outcry for action. This “action movie” has two parts, the first part is “ARRESTS & CHARGES” and the second part which you will never get to see is “CONVICTION & JAIL TERM”.
Big Fish Caught! The More Reason To Vote For Change
GE 13 – Change The Federal Government No matter what, we must ensure that racist umno bn do not regain the power like they had for over the past fifty two years.
Try stealing RM1.25 and see for yourself how many months in jail you will get. But Long Sick stole RM1,250,000,000 and the mca monkeys are demanding ‘justice’ for him
i wonder how this whole scandal will evolve into in the next one year.
I think Ling is used as a sacrificial lamb in view of the International Law Conference in KL hoping to hood wink the guests to believing that malaysia practised justice. That’s why MCA top leaders expressed pretty much concern for its former president. Hoodwink or not,MCA’s concern or not,malaysians can be definitely see a disappointing verdict at the end of the day. Well now who says a TUN could not be charged ? Hence the rest of the TUNS.especially certain TUN must be having sleepless nights now. Let’s hope now justice not only prevails but it must be seem as done.
What a mess…
Is Dr. Ling Liong Sik..like Mahathir Mohamed and Chua Soi Lek …doctors???????….where did these guys graduate from….???….and who let them into medical school?????
Truly a bunch of green eyed monstors and sex maniacs…
Malaysia may already be dead…We could be technically Greece already….the signs are all there..
We know Ling didn’t volunteer for this. He saw it coming as it is an inevitable consequences from the mess that he left behind, making him a convenient scapegoat and surely big enough a fish for the amazement of unintelligent Malaysians.
Let’s say that PKA board bows to public pressure and refuses to heed the government advice to pay the special purpose vehicle controlled by KDSB. [This is wishful thinking, but let’s hypothesise for fun.]
The bondholders would sue the issuer (the SPV) and also KDSB to compel KDSB to make good the shortfall in the SPV. By now, KDSB would be a shell, and would probably have RM 100 in its bank account. Next, the bondholders sue PKA and the Ministry of Transport for not providing funds under the Letter of Support.
Let’s say the courts rule that the Letter of Support does not tantamount to a guarantee, or that the Letter of Support is ultra vires since it did not have the consent of the MOF or the cabinet. The bondholders have no choice but to sue the lead arranger, the legal counsel, the rating agency for misrepresentation, fraud, whatever.
Isn’t this good for the market ? I mean, the market ends up being more cautious, more responsible and more accountable. Talk of market disruption is pure nonsense. Something good will come out of this if the taxpayers’ money are not simply dished out as directed by the irresponsible government.
another “wayang kulit”in the making!
Godfather, fully agreed, let the bondholders sue whoever they want, the rating agency, bond deal makers, KDSB, PKA, MOT, and the Government. Just don’t pay them and let them die a lingering death. It is a moral hapzard issue I said all along. Buying high yielding bonds at almost zero risk (because of government guarantee) is what these sophisticated bond investors were doing. They think they can have free lunches all the time.
Why the Treasury was so eager to assume responsibility when the letter of support was issued by MOT without their knowledge? Why the AG was so fast in coming out with the interpretation that the letter of support was good? On what basis?
We were not born yesterday you know.
This is a sandiwara. I would bet that after going through all the motions of putting Ling Leong Sik on trial, the AG will purposely lose the case by omitting much of the relevant evidences that will leave ground for the judge to throw out the case.
Look at the Perwaja Steel scandal, the Atantuya murder case, the Lingam-gate scandal and you will get a feeling of how the PKFZ saga will end.
Malaysians had been fooled many times and can they be able to open their eyes to the same dirty tricks employed by the corrupt regime and civil servants?
Of cos, MCA kaki-kaki only worry abt LLS
They all stumble over each other 2 tell LLS
Darling Ling, r U OK?
Rest well, sweet dream, don’t worry, we r behind U
Can’t fault U, just look at DAP’s Klang municipal councillor, only a small fart oredi abusing d system 2 secure contracts 4 his son n cronies, wanting his son 2 b as rich as your son, copycat 1
Remember he is also a chinese. Nothing will happen but it would be interesting to know where did the excess money go to or how is the excess money used. How did the cheating scenario look like. Who are the real cheaters and who are the real victims. The people involved will be happy if the money is recovered and given back. He looks sick but hopefully he could still say his part of the story.
Is this Najib’s smart plan to get Chinese votes?
Until he also get arrested…Ling Liong Sik is a disgrace to Chinese…worst than Tsu Khoon.
And both will never get the Chinese votes..even if both are arrested…but if the real ring leaders of all crooked deals that stole billions are caught and arrested from UMNO B…then Malaysians maybe happy and contented..over their sufferings for decades with justice done.
Will the Police and Judicial Depts. dare to do their professional jobs…for Malaysians?
I think MCA could do what they are capable of. Write and appeal to the government on the case, just like they appeal for the scholarship and university places every year.
I don’t even think the cash is still in the country, i mean the real cash and the so-called payment is just paper works. I am still awaiting the pronuncement from CSL who claimed that he would speak out for the Community, don’t just speak for ALL MALAYSIANS on all the corrupt practices that have had taken place. Those younger than you do noy believe in your gang’s divide and rule philosophy anymore! believe this blog site, unless you do some to salvage your party’s standing, you gonna go into the history book as the President who took MCA into oblivion!!
These are political thieves that control the country…and our country is very rich.
These UMNO B crooks travel all over the world…and have ever ready
“agents”….to make sure money stolen are not traceable.
And these agents will not dare to cheat the UMNO B leaders.
Look what happen to Mongo model who demanded to be paid ..as promised….RM5million…not RM50k.
Remember Mahathir traveled all over the world…spending hundreds of millions …with no second thoughts for the poor and needy?
You can say….he has the most overseas connections…to be proven to be the cleanest uncorrupted PM in the world.
These UMNO B crooks steal for party and enrich themselves by the hundreds of billions..these 30 years.
You say say…PR is sponsored by whoever they are.by the billions to fight UMNO B billions on elections…but you can bet your last Ringgit…once PR leaders try to fool their benefactors……they are finished…no more money.
But who are UMNO B benefactors…the Arabs from Middle East?
No no no…they steal from Malaysians and use that to buy Malaysians.
The biggest loosers are the Malaysians Muslim they stole from and UMNO B declares…helping their own race.
That is why…more and more so call UMNO B supporters are voting against Najib..which make Najib trying o fool Malaysian Chinese…right now.
Remember…everything UMNO B are doing is about winning votes and bluffing Muslims…..and not for the good of the people at all.
Check it out and think.
Who are those “bond” holders?
Why are they so silent up to now?
Why are the Government/Treasury/MOF/MOT/PKA are so much in a rush to pay when they are silent?
If those money came from EPF, any pensioners should take the case to the court!!