Hornbill Unleashed

November 7, 2016

PH questions RM46b project signed by RM2 company

Filed under: Politics — Hornbill Unleashed @ 9:01 PM

East-Coast-Rail-LinkOpposition lawmakers today questioned the approval of the East Coast Rail Link (ECRL) project worth billions of ringgit which they said was not first tabled in Parliament.

Citing news reports, PKR MP Rafizi Ramli said the Malaysia-China deal saw Malaysia Rail Link Sdn Bhd heading the project.

However, checks conducted showed that the company was formed on Sept 26 this year, with a startup capital of only RM2, he added.

“We can also confirm, through Internet search, that the RM2 share is held jointly by one Ahmad Suhaimi Endut and Dr Yusof Ismail.

“Both are senior officers, ranked deputy secretary, at the Finance Ministry,” he told a press conference at the Parliament lobby here this afternoon.

East-Coast-Rail-Link3Also present were Kuala Krai MP Dr Hatta Ramli, Kelana Jaya MP Wong Chen, and Serdang MP Ong Kian Ming.

These information, they said, gave rise to the question of whether the contract was awarded to the company in accordance with proper due process.

“Normally, a special purpose vehicle formed by the government to carry out a massive infrastructure project must get Parliament’s approval first before the capital needed for it is disbursed.

“For example, when the federal government wanted to launch the high-speed rail from Kuala Lumpur to Singapore, Prime Minister Najib Razak had to table the motion for the allocation to be approved in Parliament.

“But clearly that did not happen here and a company with only RM2 start-up capital ended up being the vehicle to sign a contract worth RM46 billion,” said Rafizi.

He then posed a question to Najib, asking if the latter had even sought for the approval of his Cabinet members.

The ECRL is one of the high-impact projects under the 11th Malaysia Plan.

Najib, who sealed the deal with China Communication Construction Company Ltd, had reportedly said the Chinese had agreed to fund the project through their Exim Bank.


Source : Nawar Firdaws@FMT Reporters Online


3 Comments »

  1. Najeeb, do you really think and believe that you own Malaysia???

    Comment by Geronimo Miller — November 9, 2016 @ 2:24 AM | Reply

  2. Another 1MDBV in the making.

    Comment by apai — November 8, 2016 @ 6:51 PM | Reply

  3. It is yet another fraud. The loan agreement and mechanism on disbursement of the massive loans over a highly inflated project is masterminded by someone very familiar with the unresolved debts of 1MDB and who is desperate to pay off the debts owed by 1MDB.

    Comment by Mata Kuching — November 7, 2016 @ 10:26 PM | Reply


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