If PR capture Putrajaya, both Rafizi and Tony can help navigate the country into world class economy… simply because they are smart and intelligent guys! Good to have both in the cabinet, under PM’s office… )
This little puppy hasn’t shed his puppy fat yet but has learned how to bark. Unfortunately, he is barking up the wrong tree.
Obviously, he has no clue what transpired nor has he the intellectual capacity to understand the complex nature of the terms of settlement.
My senior at work used to tell me to study the facts carefully and understand the context of the situation before I open my mouth to criticise.
The information is in public domain. Talam owed several Selangor GLCs (government-linked companies) a sum of RM391 million. This was a result of years of carrying out property JVs (joint ventures) with the Selangor government.
Khalid Ibrahim, upon becoming MB in 2008, repaid the various Selangor GLCs the sum of RM391 million and novated Selangor MB Incorporated (MBI) into the position of the Selangor GLCs, hence making Talam obligated to repay Selangor MBI instead of the individual Selangor GLCs.
Logically, Selangor MBI is a more powerful entity vis-a-vis the various standalone Selangor GLCs and was thus in a better position of strength to deal with Talam.
Talam has repaid the entire RM391 million in two instalments – RM241 million and RM150 million – settled in cash and properties. The properties received as settlement were valued by Selangor state valuer.
Talam’s 2010 annual report has no information on Selangor paying RM667 million to purchase Talam assets. In fact, Talam’s net cash position has dwindled from the previous year.
PKR strategic director Rafizi Ramli is still best.
His father was once seen naked and now the son’s turn to be made ‘naked’ in public to expose his stupidity.This is what we say like father like son.Son will kena whack from Tony tomorrow and father will kena hentam from Guan Eng on Sunday.This young punk needs to learn a lesson Shooting his mouth of on fantasies instead ofon facts! Is this a sample of the product MCA can produce? MCA, show some solid work towards progress Finding faults is childish
Yet another Chua stripped naked? Quick, close your eyes – it’s going to look quite ugly. Do it and make Chua Tee Yong’s asshole bleed! like being in BN and the BN govt has damaged his brains. The worst part is that ALMOST ALL MCA LEADERS,PRESENT AND PAST HAVE BAD RECORDS LIKE like father and son both caught with their pants down ….. MCA …. Malaysian Comedians Association CORRUPTIONS,WOMANIZER,STEALING,AND THEY ARE REALLY BIG TIMERS!so WHY DON’T YOU,SILLY N STUPID N BLOCK-HEAD CHUA JUNIOR, CLEAN YOUR ‘OWN HOUSE’ 1ST BEFORE YOU OPEN YOUR DAMN MOUTH!WHO CAN TRUST YOU? Stupid, bungling accountant. This shows the quality of BN leaders. And he is a deputy minister. My God, what kind of people are we electing. PAKATAN And one more thing – get the shitty Star newspaper to make sure it gives an equal opportunity reply. Why are we even bothering to buy the star anymore? Dato Wong Chun Wai, yours and the paper’s credibility is on how you play up the rebuttals. Otherwise some of us are going on a campaign to get people to stop buying your newspaper. need to truly unite as now BN are sending their hyenas from all the tribes of BN. MCA-MIC-UMNO are uniting and attacking PAKATAN with every morsel of lies and deceit so that hopefully something may crumble. So far PAS has fell for it and crumbled a little by siding with UMNO on their favourite hudud subject.With the kind of reputation that Chua Soi Lek is having, it would have been best for Chua Jr to shut his mouth and leave the talking to someone else in MCA. Every time he opens his mouth, his father becomes collateral damage all over again. As for Chua Sr, you see this is what happen when you shit in your own backyard. Now your reputation precedes you and will haunt you till your political career is over The red dot down south has a cabinet made up of intelligent and competent ministers and that is why they become one of the richest nations in the world and their currency is strong and powerful.And look at our ‘kitchen cabinet’ which is filled up with all the half past six and the mediocre components.Don’t we feel ashamed.”Chua, of all persons, being a former chief financial officer of a government-linked company, should not be making such a mistake.” YB Pua. Don’t give so much credit to his former position. Chua Jr is the son of a cabinet minister. He, like Ling’s son before him, has super bumi qualifications.TRUTH IS NOT ON CTY and MCA’s side. People of the Truth have nothing to fear. People of the Lie have everything to fear coz their lies will be exposed. MCA has dug it’s grave deeper.
Labis MP Chua Tee Yong’s talent is being wasted in MCA, having to concentrate on finding faults with Pakatan Rakyat state administration, while ignoring bigger BN issues like NFC (National Feedlot Corporation), Felda, etc.
(Chua Tee Yong), I don’t think you know how to read financial statements.
First of all, the deal with MBI is not even completed and only partially completed. So far, Trinity (that’s the new name for Talam) has only completed RM221.53 million worth of properties to be dispose to MBI to settle outstanding debts.
Trinity remains very much in debt, it has more than RM400 million debts and very little cash in the kitty. Your assertions are all false.
Based on the circular to shareholders, Trinity total settlement amount with MBI was RM676.1 million. Of these, RM266.3mil will be settled by MBI with lenders and the balance RM392 million is amount due to MBI itself. In fact, Trinity had made a payment of RM12.7 million to MBI.
Also Talam got out of PN17 not because of the land deal, but because it went through a regularisation plan.
Read this part: “In compliance with Paragraph 3.2 of PN17/2005, Talam wishes to inform that the proposals under the Regularisation Plan as approved by the Securities Commission (“SC”) on 29 April 2008 has been completed upon the listing and quotation of the RCPS, RCSLS-B, RCSLS-C and RCSLS-D on the Main Board of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 1 July 2009.
“Talam’s proposed divestment programme, which did not require the approval of the Securities Commission, is still on-going, and in this respect, Talam had entered into agreements with Menteri Besar Selangor Incorporated through which a portion of the proceeds will be used to make partial settlement of the Term Loan Facilities granted by TA First Credit Sdn Bhd and Insas Credit & Leasing Sdn Bhd respectively.”
Talam started big as a crony company during MB Muhammad Muhammad Taib’s time and got into financial problems. Pakatan has to sort out the mess one way or other.It was good for Selangor to bail out Talam. In so doing, Selangor have saved thousands of house buyers from the prospect of not getting their homes.
Many Talam projects were left uncompleted and many buyers bear the burden of paying bank loans – some still paying for over 10 years – for an uncompleted apartment.A good example is the Ukay Bistari Apartments. After 10 years of home buyers paying for uncompleted houses, the whole project is now back in full swing again. In fact, Block A and D has just been completed.That this involves the state government is inevitable because of exchange deals signed before, and one party could not deliver. For example, the state has to think of solving the stalemate to help buyers of failed housing projects.Compare this with NFC, this is honourable rather than fraudulent act.Chua Tee Yong, there two types of bailout. One is to save the Umno cronies and sons of ministers and prime minister by using taxpayers’ money. One example is Mahathir’s son Mirzan – his shipping company, Konsortium Perkapalan was bailed out using Petronas money.
The other is more honourable – bailing out a company with the intention to ensure jobs are saved. It is an impersonal decision that does not benefit the decision-makers. US President Obama did the same with the federal bailout to banks and Wall Street to prevent economic collapse.Chua Tee Yong, even if your allegations are true, you lose credibility, believability and goodwill for your exaggerations. Don’t just quote figures loosely. Stick to the subject.
If you’re accusing the state government of using RM266 million to bail out Talam, then show us the proof. Don’t foolishly claim a RM1 billion scandal just because it is more attention grabbing than RM266 million.
Anyway we await for the better explanation from the Selangor government. As usual, BN politicians would get a day or two of limelight with their exposure, and after the appropriate explanations from the former corporate figure, who is MB Khalid, the joke would be on the MCA Chua junior.
Penang MCA Youth chief Eng Hiap Boon’s resignation makes no difference to us. MCA has no guts to fight for Chinese rights.
In 54 years, Umno has done a lot for themselves – the creation of NEP with policies such as APs (approved permits) and 30 percent Chinese-owned business must be given to bumis before listing.
Chinese independent schools have to fund themselves everyday and Chinese primary schools have more than 60 students per class. Chinese contributed at least 70 percent of the tax revenue but enjoy little of the national allocations.
MCA can never fight to stop all these. It is happy with four junior minister posts with its transport minister not fully in charge of transportation.
Don’t threaten us that MCA will withdraw from the government if it performs worse than the last GE. Chinese are so used to it by now, don’t count on our votes in the next GE. can’t wait for the next GE if anything to see MCA trounced into submission like when Gerakan was whacked silly in Penang in GE12. dare them to put candidates in Chinese-majority constituencies and show the people how much MCA means to the Chinese. They will lose their deposits and will have to retire quietly to lick their wounds.It’s shameful that some were made backdoor ministers which shows that they are now next to nothing as a political party. ”Sometimes, my supporters were threatened by gangsters and have been targets of malicious allegations. I experienced these as well. Is this MCA’s culture?” asked Eng.It certainly is BN culture considering all the mailed bullets that the opposition leaders are getting, something which no BN leaders seem to be getting. ”He also claimed that after the March 2008 general election, Penang MCA hired ‘gunners or cybertroopers’ to take charge of the party’s statements, but none of them were paid a single sen for their task.”
Sounds like they are resigning for monetary reasons and not based on principles. This is what happens when you hire cybertroopers and gunners to do the job. They work to write crap and will stop when they are not fed.
Unlike people like us who comment in Malaysiakini, our cries for a clean government is genuine. No one pays me or anyone here to write about how dirty and corrupted the government is.Pakatan Rakyat, watch it. Don’t even dream of touching any of these 439 ex-MCA members, not even with a 10-foot pole. Avoid them like plague if possible For people who really believe in the party’s struggles, they will stay on to help improve it and not give up in such a high-profile manner at a time when a general election may be called.Please do not blame others for thinking the worst of you as it would only be natural for people who is honest and truthful to think that way.: Why should we thank MCA for the TAR (Tunku Abdul Rahman) College? The very existence of TAR College is a result of MCA’s failure to ensure fair and equitable education oppourtunities for all Malaysian regardless of race.They kept an eerie silence on Umno excesses and abuses, in the process their leaders were rewarded with positions and government contracts.In simple term, they betrayed the community that they claimed to represent for their own self-benefit. MCA is imploding because the whole leadership is compromised, starting with their president. Their existing president has lost all moral authority to lead MCA, so do those who put him in that position.Whether camp A or camp B, both sides are not fit to lead MCA. MCA needs a complete makeover, otherwise it should prepare itself to be a footnote in history. ”This is a rotten party, led by a dirty president”. Ouch.Someone has to tell us exactly what the difference between the consideration received by Khir Toyo and Stanley. In fact, I think the value of the benefit Khir Toyo got out of his property scam is many times more than the person charged in this case.The vast difference in the sentence in terms of jail terms is shocking. Khir Toyo must have gotten much better lawyers… No political affiliation and you get this. I suppose Khir Toyo was happy because he didn’t get a RM17 million fine. The patent disparity in sentencing between Khir Toyo’s case and this is baffling.Khir Toyo’s matter involved a greater sum, including breach of fiduciary duty to the rakyat by the antagonist as an elected assemblyman and chief executive of a state at the material time.Obviously the scales of justice need to be recalibrated.