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Ling Liong Sik arrested, Pakatan fears brokered-deal
Wong Choon Mei
Malaysia Chronicle
FINAL UPDATE Former MCA president and ex-Transport Minister Ling Liong Sik was arrested and charged at the Putrajaya Sessions Court for involvement in RM12.5 billion ringgit Port Klang Free Zone debacle.
However, opposition leaders and pundits expect a brokered deal aimed at helping Prime Minister Najib Razak save some 'face' after a recent bashing from the public over his lackluster performance since coming to power in April 2009.
They say the move would also bolster confidence in the new MCA leadership under scandal-plagued Chua Soi Lek. Just a day ago, Soi Lek had drawn fire from the public for supporting a move by current Transport Minister Kong Cho Ha in paying RM222.58 million to a unit of Kuala Dimensi, the PKFZ turnkey contractor with alleged links to the Umno elite.
This despite warnings from a slew of financial experts including external auditors and Transparency International that if the bond repayment was made now, before the conclusion of a RM1.4 billion lawsuit, taxpayers may never see their money again.
"We hope it is not for show. We still remember Kasitah Gaddam and Eric Chia ," PKR strategic director Tian Chua told Malaysia Chronicle.
"It looks very suspicious. Of particular note is the fact that the Najib administration and the MCA new leadership chose to make the bond payment to Kuala Dimesi on Wednesday."
Taking a leaf from Badawi
Tian was referring to the same strategy Najib's predecessor Abdullah Badawi had adopted when he took over from Mahathir Mohamad in 2003, pledging reforms and to rid the country of endemic corruption.
But under Abdullah, who had a nickname as 'Mr Clean', corruption rampaged on and his own son-in-law Khairy Jamaluddin ended up being accused as one of the biggest abusers of power during his reign.
In February 2004, Land and Co-operative Development Minister Kasitah Gaddam was charged in the Sessions Court in Kuala Lumpur for cheating and corruption. Just days before his arrest, fallen tycoon Eric Chia, the former managing director of Perwaja Steel and a well-known crony of Mahathir, was also arrested for criminal breach of trust involving RM76.4 million.
But despite the brouhaha, Eric was acquitted in June 2007 and Kasitah was acquitted in August 2009.
"It appears Najib is trying to borrow a leaf from Badawi. But it didn't work because people knew it was fake and that's why they voted Pakatan Rakyat to power in 2008," Tian shot out.
"Now, Najib must be really desperate especially with elections looming. He can't seem to do anything right at all. Even his so-called ideas are borrowed, and of all people, from Abdullah Badawi."
Najib's sudden leave, powerful hands at play
The PKFZ is the Malaysian government's biggest port investment. It is also the biggest flop in a long list of failed or ailing government-projects that have been slammed by anti-corruption activists through the years.
It began in the early 2000s at an original budget of RM1.8 billion, but has ballooned multiple folds due to glaring mismanagement and alleged graft. Its auditor has warned that if its debt is not revamped, interest charges alone could boost the final bill to RM12.5billion.
An investigation into the financial debacle has shown the massive cost overruns were likely to be the result of high-level corruption. PKA blames Kuala Dimensi for the problems at PKFZ and is suing it for RM1.4 biliion. Kuala Dimensi is controlled by Bintulu MP Tiong King Sing, whom many in the political circles regard as being a "money bag" for Umno.
All eyes are now on who is next. Will there be a dragnet? Pundits point to the sudden leave Najib took effective on Wednesday, forcing several events to be postponed. He will be on leave until August 10.
"It shows the hand of very powerful vested interests at play. Definitely, they are trying to cover up and mitigate the public condemnation of yesterday's bond payment by going after the old clique like Ling. How serious do you think they are in jailing him? Will it even happen? " said Tian.
Old clique
The 67-year old Ling is one of the most prominent politicians to be nabbed in recent years.
He was charged under Section 418 of the Penal Code for misleading the Cabinet between Sept 25 and Nov 6, 2002, into agreeing to buy 999.5 acres of land on Pulau Indah for the PKFZ project at a price of RM25psf on a deferred payment method for a 15-year period, at a 7.5 interest rate.
However, what the charge sheets said he did not tell the Cabinet was that the Finance Ministry had already valued the land at RM25psf inclusive of compounded interest, which would make a whopping difference of RM720 million.
Ling pleaded not guilty to the charges and Sessions Court Judge Suzana Hussin has set bail at RM1 million, which he promised to pay by Friday. He was released on a personal bond and mention date has been fixed for Sept 3.
http://www.malaysia-today.net/index...rged-&catid=19:newscommentaries&Itemid=100131
http://www.malaysia-chronicle.com/2010/07/ling-liong-sik-arrested-pakatan-fears.html
Wong Choon Mei
Malaysia Chronicle
FINAL UPDATE Former MCA president and ex-Transport Minister Ling Liong Sik was arrested and charged at the Putrajaya Sessions Court for involvement in RM12.5 billion ringgit Port Klang Free Zone debacle.

However, opposition leaders and pundits expect a brokered deal aimed at helping Prime Minister Najib Razak save some 'face' after a recent bashing from the public over his lackluster performance since coming to power in April 2009.
They say the move would also bolster confidence in the new MCA leadership under scandal-plagued Chua Soi Lek. Just a day ago, Soi Lek had drawn fire from the public for supporting a move by current Transport Minister Kong Cho Ha in paying RM222.58 million to a unit of Kuala Dimensi, the PKFZ turnkey contractor with alleged links to the Umno elite.
This despite warnings from a slew of financial experts including external auditors and Transparency International that if the bond repayment was made now, before the conclusion of a RM1.4 billion lawsuit, taxpayers may never see their money again.
"We hope it is not for show. We still remember Kasitah Gaddam and Eric Chia ," PKR strategic director Tian Chua told Malaysia Chronicle.
"It looks very suspicious. Of particular note is the fact that the Najib administration and the MCA new leadership chose to make the bond payment to Kuala Dimesi on Wednesday."
Taking a leaf from Badawi
Tian was referring to the same strategy Najib's predecessor Abdullah Badawi had adopted when he took over from Mahathir Mohamad in 2003, pledging reforms and to rid the country of endemic corruption.
But under Abdullah, who had a nickname as 'Mr Clean', corruption rampaged on and his own son-in-law Khairy Jamaluddin ended up being accused as one of the biggest abusers of power during his reign.
In February 2004, Land and Co-operative Development Minister Kasitah Gaddam was charged in the Sessions Court in Kuala Lumpur for cheating and corruption. Just days before his arrest, fallen tycoon Eric Chia, the former managing director of Perwaja Steel and a well-known crony of Mahathir, was also arrested for criminal breach of trust involving RM76.4 million.
But despite the brouhaha, Eric was acquitted in June 2007 and Kasitah was acquitted in August 2009.
"It appears Najib is trying to borrow a leaf from Badawi. But it didn't work because people knew it was fake and that's why they voted Pakatan Rakyat to power in 2008," Tian shot out.
"Now, Najib must be really desperate especially with elections looming. He can't seem to do anything right at all. Even his so-called ideas are borrowed, and of all people, from Abdullah Badawi."
Najib's sudden leave, powerful hands at play
The PKFZ is the Malaysian government's biggest port investment. It is also the biggest flop in a long list of failed or ailing government-projects that have been slammed by anti-corruption activists through the years.
It began in the early 2000s at an original budget of RM1.8 billion, but has ballooned multiple folds due to glaring mismanagement and alleged graft. Its auditor has warned that if its debt is not revamped, interest charges alone could boost the final bill to RM12.5billion.
An investigation into the financial debacle has shown the massive cost overruns were likely to be the result of high-level corruption. PKA blames Kuala Dimensi for the problems at PKFZ and is suing it for RM1.4 biliion. Kuala Dimensi is controlled by Bintulu MP Tiong King Sing, whom many in the political circles regard as being a "money bag" for Umno.
All eyes are now on who is next. Will there be a dragnet? Pundits point to the sudden leave Najib took effective on Wednesday, forcing several events to be postponed. He will be on leave until August 10.
"It shows the hand of very powerful vested interests at play. Definitely, they are trying to cover up and mitigate the public condemnation of yesterday's bond payment by going after the old clique like Ling. How serious do you think they are in jailing him? Will it even happen? " said Tian.
Old clique
The 67-year old Ling is one of the most prominent politicians to be nabbed in recent years.
He was charged under Section 418 of the Penal Code for misleading the Cabinet between Sept 25 and Nov 6, 2002, into agreeing to buy 999.5 acres of land on Pulau Indah for the PKFZ project at a price of RM25psf on a deferred payment method for a 15-year period, at a 7.5 interest rate.
However, what the charge sheets said he did not tell the Cabinet was that the Finance Ministry had already valued the land at RM25psf inclusive of compounded interest, which would make a whopping difference of RM720 million.
Ling pleaded not guilty to the charges and Sessions Court Judge Suzana Hussin has set bail at RM1 million, which he promised to pay by Friday. He was released on a personal bond and mention date has been fixed for Sept 3.
http://www.malaysia-today.net/index...rged-&catid=19:newscommentaries&Itemid=100131
http://www.malaysia-chronicle.com/2010/07/ling-liong-sik-arrested-pakatan-fears.html