Sabah’s Smoking Gun!  Bank Statements Show That Musa Aman’s Sons Accessed Dirty Money – National Exclusive!

Sabah’s Smoking Gun! Bank Statements Show That Musa Aman’s Sons Accessed Dirty Money – National Exclusive!

9 Apr 2012

This post is also available in: Iban, Malay

Documents leaked from a Malaysian Anti Corruption Commission (MACC) enquiry have provided devastating evidence of the Sabah Chief Minister, Musa Aman’s, personal involvement in a massive timber kickback scandal, which insiders say has been subject to a high level political cover-up.

Aman has always denied that he was linked to allegations surrounding the Sabah timber trader Michael Chia, who was arrested in Hong Kong and charged with money laundering, as he attempted to smuggle SG$16million in bank notes back to Malaysia in 2008.

However, Sarawak Report has now obtained access to secret documents from the investigations by Hong Kong’s Independent Commission Against Corruption (ICAC) and Malaysia’s MACC, which directly implicate the Chief Minister.

These include copies of bank statements, which record payments to Musa Aman’s own sons from suspect accounts linked to Chia’s business activities.

Chia was Musa Aman’s ‘adopted son’

Close relationship – Musa Aman (left) and his right hand man Michael Chia

Michael Chia, who referred to himself as Aman’s adopted son, played the role as facilitator for kickbacks to the Chief Minister, according to trade insiders.

They say that soon after Aman took office, Chia started approaching key timber industry players to make plain that major concessions would be available – but only if kickbacks were paid, through him as the connector to Musa Aman.

“Tampokong was instructed to follow Chia’s instructions”, say sources. Meaning that Yayasan Sabah’s Forest Manager, Mohd Daud Tampokong, had been instructed by the Chairman of the Board Trustees, Musa Aman, to do Chia’s bidding when it came to authorising logging licences.

Yayasan Sabah controls around a million hectares of remaining forest land, which it is suppose to protect and manage on behalf of the state and its people.  Unwisely, the country’s top politician is also the head of Yayasan’s Board of Trustees, giving the Chief Minister unlimited personal control over the country’s major natural resource.

Such a lack of check and balances is a recipe for corruption and our evidence shows that Aman took spectacular advantage.

 Smoking gun bank accounts

Dandy – Chia loved the fast life. According to one friend “he would spend $2k on his underwear”!

At the time of his arrest in Hong Kong, clutching the bundle of Singapore bank notes worth SG$10,000 each, Chia was suspected of smuggling dirty money, with the intention of bringing it back to Sabah to finance election bribery by BN.

The money and related bank accounts were frozen in Hong Kong by the Independent Commission Against Corruption (ICAC) for the maximum period of 3 years, while investigators sought to get vital cooperation from Malaysia’s Attorney General, Abdul Gani Patail, in order to be able to get the evidence they needed from the Malay authorities.

Simultaneously the MACC began their own investigation, seizing 9 lorry loads of material and documents from the premises of Michael Chia and his timber business associates, including timber magnates Andrew Lim and Admond Looh.

The investigators discovered that Chia had been running a number of related bank accounts through HSBC, Singapore and the Swiss Bank UBS, based in Hong Kong. We have copies of statements from these bank accounts showing that the sons of Musa Aman were taking money out of one of them on a regular basis, based on a standing instruction.

This account was set up as an Australian Dollar account in Singapore, apparently because the boys were then studying in Perth, Australia.  Money was also removed from the account by Imbarine Bujang, who was the man delegated by Musa Aman to take care of the boys’ needs while away at University in Perth.

How can Musa deny his link to Chia’s activities when his own sons were taking money out of accounts that were being managed by Chia and his associates?

Mohammed Hayssam Musa and Hazem Mubarak Musa are both offspring of the Chief Minister.  Sarawak Report has numerous copies of statements from this bank account, showing that their expenses were being regularly paid from it during 2006 and 2007.

A payment was also made to the Australian property company, Riverstar Investment Pty Ltd, to cover the rental costs of the boys’ apartment in Perth.

Payment for the rental for Musa’s sons in Australia also came out of the same account controlled by Chia

Statements in our possession from connected USD$ accounts with the same UBS Hong Kong bank (managed through the Singapore branch) show how money was transferred to cover the payments. Our evidence is that the money flowing into these accounts was directly linked to the granting of major timber licences by Yayasan Sabah.

Chia himself paid directly to Musa’s boys

Any attempt by the Chief Minister to distance himself and his family from the evidence that he has been receiving money through Michael Chia is made even less convincing by the fact that other bank statements, made available to the MACC enquiry, show that Chia himself had been covering these regular payments to the boys in the period before setting up the UBS account in 2006.

These payments were made through his personal HSBC account!

Money for the boys was going through Michael Chia’s own bank account in 2005 – Why?

SG 85,000 payment to Mohammed Tampokong!

The leaked documents in our possession also show that Yayasan Sabah’s Forest Manager, Mohd Daud Tampokong (instructed to cooperate with Chia) also received an enormous payment from another related account run by Chia and his associates, this time from a company based in the British Virgin Islands, Zenique Investments Ltd.

We question on what grounds the salaried civil servant in charge of managing Sabah’s timber concessions could legitimately accept a SD85,000 payments from an offshore British Virgin Island account?

Explanation needed? Why did Sabah’s Forest Manager receive a SG85,000 payment from a BVI account in November 2006?

This evidence strongly corroborates allegations that Michael Chia was receiving kickbacks from timber companies receiving concessions from Yayasan Sabah, which had been authorised by Mohd Daud Tampokong, and that Chia was then forwarding money from his web of bank accounts to Musa and to the Forest Manager.

Musa Aman has till now distanced himself from this kickback investigation, in which case he needs to come up with convincing explanations about these payments.

Cover up

Protecting his powerful family and political allies? Attorney General Abdul Gani Patail

So far, the Chief Minister has been protected from prosecution, according to our sources, by the deliberate obstruction of the official investigation by Malaysia’s top law enforcement authority, the Attorney General.

Abdul Gani Patail is a fellow Sabahan and has close family connections with the Aman family and he has blocked the pressing of all charges.

We have learnt that the Hong Kong Anti-Corruption Commission investigators initially approached the Malaysian authorities in 2008 with a request for assistance in pursuing their enquiries after Michael Chia’s arrest.

However, the Attorney General refused to sign the necessary mutual legal assistance documents to enable inter-country cooperation on the case. We understand that Gani even went to Hong Kong seeking to negotiate with his opposite number there to close the case.

After 3 years the Hong Kong authorities were forced by statutory limitations to unfreeze the Chia accounts and shelve the investigation owing to Malaysia’s refusal to cooperate.  The millions of dollars in these accounts were released towards the end of last year and it is believed a great deal of the money will be channelled into Sabah, in order to attempt to buy votes for UMNO/BN in the coming federal election.

MACC investigation was also blocked by Gani

A parallel MACC investigation, which unearthed huge amounts of information about Sabah timber kickbacks, has also been blocked.

The Malaysian investigators, who are understood to have been extremely thorough, took evidence from numerous business associates of Chia and timber traders, who admitted to paying kickbacks.  The MACC is believed to have recommended that no less than 40 charges be brought against Sabah’s Chief Minister and yet once again the Attorney General has refused to recommend a prosecution of the case.

“The report with all the evidence is still sitting on his desk”, one source has told us.

This situation supports the clear frustration expressed publicly just last week by the MACC Deputy Commissioner, Mohd Shukri Abdull, who admitted that the Attorney-General has refused to bring many “valid cases”, claiming lack of evidence.

Sarawak Report has now received much of that evidence and over the coming days we will be sharing it with the public and inviting people to make their own judgement on the case which Malaysia’s Attorney General is refusing to bring to court.

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  • malaysian

    Not enough money for election?

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  • Lanun Semporna

    What do you think a hopeless loss-making Puncak Niaga/SYABAS easily keep on looting multi-million water projects debolotment even in Sarawak without Quality Concrete ‘connections’ and Shafiee Afdal UMNO Lanun approval…??? Dubiously called as open tender basis??


    “…All these indicate that Puncak Niaga is a bankrupt company (PN17) and should not be allowed to continue managing the water resources…” – Malaysia Today Monday, 09 April 2012


    A. Maklumat Syarikat: :



    Postcode 40100

    Town : SHAH ALAM

    State: SELANGOR

    (Note: Sarawak Puncak Niaga branch office at Jalan Mendu, Kuching)

    H.Maklumat Projek:

    Bil Tajuk Tarikh Anugerah Nilai (RM) Klien

    1. Work Order No. 15 (Zone 2) Contract No. KKLW/BALB/18/2010 : Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010 – 2012 – Layar di Lubau 11-08-2011 RM 36,700,000.00 JABATAN KERJA RAYA SARAWAK

    2. Work Order No. 11 (Zone 1) Contract No. KKLW/BALB/17/2010 : Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak 2010-2012 – Ke Lubok Punggor, Simunjan 03-06-2011 RM 16,300,000.00 JABATAN KERJA RAYA SARAWAK

    3. Work Order No.14 (Zone 2) Contract No.KKLW/BALB/17/2010: Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010 -2012 – Sambungan Bekalan Air Pusa Ke Beladin, Bahagian Betong 03-06-2011 RM 30,000,000.00 JABATAN KERJA RAYA SARAWAK

    4. Work Order No.12 (Zone 2) Contract No.KKLW/BALB/17/2010 : Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010 -2012 Saratok/ Engkelili 03-06-2011 RM 41,100,000.00 JABATAN KERJA RAYA SARAWAK

    5. Work Order No.13 (Zone 2) Contract No. KKLW/BALB/17/2010 : Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010-2012 Ke Rumah-Rumah Di Sepanjang Jalan Awik, Saratok 03-06-2011 RM 34,000,000.00 JABATAN KERJA RAYA SARAWAK

    6. Work Order No. 7 (Zone 1) Contract No. KKLW/BALB/17/2010 : Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010 – 2012 – Tangki Entingan, Samarahan 07-04-2011 RM 10,800,000.00 JABATAN KERJA RAYA SARAWAK

    7. Work Order No. 8 (Zone 2) Contract No. KKLW/BALB/17/2010 : Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010 – 2012 – Sembau/Stumbin/Bakong/Lingga Bagi Projek Agropolitan Batang Lupar 07-04-2011 RM 16,800,000.00 JABATAN KERJA RAYA SARAWAK

    8. Work Order No. 9 (Zone 1) Contract No. KKLW/BALB/17/2010 : Projek Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010-2012 – Projek BALB Sistem Retikulasi Tahun 2010 Negeri Sarawak Zon 1 (Fasa 3) 07-04-2011 RM 3,670,000.00 JABATAN KERJA RAYA SARAWAK

    9. Work Order No. 10 (Zone 2) Contract No. KKLW/BALB/17/2010 – Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010 -2012 – Projek BALB Sistem Retikulasi Tahun 2010 Negeri Sarawak Zon 2 (Fasa 3) 07-04-2011 RM 3,400,000.00 JABATAN KERJA RAYA SARAWAK

    10. Work Order No.6 (Zone 1) Contract No. KKLW/BALB/17/2010: Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010 – 2012 -Wilayah Serian, Samarahan 17-03-2011 RM 116,500,000.00 JABATAN KERJA RAYA SARAWAK

    11. Work Order No.5 (Zone 1) Contract No. KKLW/BALB/17/2010: Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010-2012 – Wilayah Tasik Biru-Lundu Sematan Seksyen Kampung Jagoi, Kuching 28-02-2011 RM 37,020,887.52 JABATAN KERJA RAYA SARAWAK

    12. Projek Membina Dan Menyiapkan Bekalan Air Luar Bandar (BALB) Wilayah Tasik Biru – Lundu – Sematan Seksyen Jambatan Batang Kayan Ulu Ke Lundu, Kuching, Work Order No. 3 ( Zone 1 ) 24-01-2011 RM 37,307,891.87 JABATAN KERJA RAYA SARAWAK

    13. Projek Membina Dan Menyiapkan Bekalan Air Luar Bandar (BALB) Wilayah Tasik Biru – Lundu – Sematan Seksyen Skiat Baru, Kuching, Work Order No. 4 ( Zone 1 ) 24-01-2011 RM 7,722,326.00 JABATAN KERJA RAYA SARAWAK

    14. Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010-2012 Work Order 2 (Zon 1) Kuching 29-10-2010 RM 13,900,342.25 JABATAN KEMAJUAN ORANG ASLI MALAYSIA

    15. Projek Bekalan Air Luar Bandar (BALB) Di Negeri Sarawak Tahun 2010-2012 Negeri Sarawak Work Order 1 (Zon 2) Samarahan 07-10-2010 RM 17,367,686.13 JABATAN KEMAJUAN ORANG ASLI MALAYSIA


    Shafie ‘caught’ with ‘overpriced’ projects

    Projects awarded by Umno vice-president and federal minister Shafie Apdal cost ’15 times higher’ than their actual quote.

    FMT, November 14, 2011

    KOTA KINABALU: The opposition in Sabah armed with “evidence” is gunning for Rural and Regional Development Minister Shafie Apdal following shocking disclosures of irregularities in rural development projects awarded through his ministry in Sabah.

    Some 209 development projects have been identified for Sabah between 2011 and 2012 and the bulk of these projects involved the rural water and power supply projects covering various parts of Sabah, from Pulau Banggi to Sipitang.

    >Of the 209 rural development projects awarded, only 129 projects had been announced and of this, 49 totalling RM1,276.60 million were “ridiculously overpriced”.

    Revealing the massive overpriced payouts, Kota Kinabalu MP Dr Hiew King Cheu said some projects were awarded at 15 times or 1,500% higher than the normal price.

    He demanded that the Malaysian Anti-Corruption Commission (MACC) step in immediately and investigate these claims.

    He said most of these projects are either invited tenders, negotiated tenders, or directly awarded.

    “None of these projects was properly done through the Tender Board.

    “Most of the companies awarded the projects are RM2 companies and some of the contractors involved are found to be closely linked to certain senior BN-Umno politicians from Sabah,” Hiew told a news conference here yesterday.

    Evidence in hand

    Hiew said that a careful study of the detailed tender documents provided by an insider had indicated that the lowest tender bid did not get the job.

    In most cases, someone with a higher tender price of almost 1,500% than the lowest bidder gets the job.

    He cited the “rural power supply project for the connection of power grid No.1” (for 2011–2012) which was awarded at a price of RM41,736,809.77.

    >The lowest tender price, he added, was only RM7,775,000.00 – a difference of RM33,961,809.77.

    He also cited the case of the “hybrid solar power system” for the Semporna islands.

    He said the project was awarded at a tender price of RM95,282,322.00, which many deemed to be too high.

    “With that amount of money, I can always get someone to build a power station,” Hiew said.

    He added that a similar project was also awarded to another company for a whopping sum of RM81,475,281.42 to supply power to Pulau Banggi, off Kudat.

    Hiew also drew attention to the infamous Pulau Gaya, which he said was in dire need of clean water supply.

    “They need clean water more than electricity. In fact, they already have a power station there.

    “But they’ve awarded a contract for the installation of a 4-km-long undersea power cable to generate power supply for Pulau Gaya at the cost of RM42 million.

    “A random survey conducted with several qualified local contractors revealed that this can be done at just RM5 million,” he said, adding that the government would need another RM100 milion if a water supply project was to be implemented.

    To substantiate his claims, Hiew also distributed copies of the detailed tender documents containing the list of projects and names of contractors to reporters.

    He said that he received copies of the documents of the Sabah projects from Beruas MP (Perak) Ngeh Koo Han.

    Hiew noted that Ngeh had questioned Shafie about the contracts, during the Budget 2012 debate session in the Parliament last week, but the minister refused to answer him.

    Describing the irregularities as blatant corruption by those in power, Hiew urged the MACC to immediately conduct a thorough investigation into the matter.

    “We call on the MACC to immediately conduct a thorough investigation as we cannot tolerate the manner the taxpayers’ money was being misused.

    “We strongly believe there is a strong element of corrupt practice and abuse of power,” he said.

    MACC will investigate

    In a later development, the MACC said it was ready to probe into alleged irregularities with regards to rural development projects in Sabah.

    MACC chief Abu Kassim Mohamed asserted it was MACC’s duty to investigate all corruption cases regardless of “who they were, without fear or favour”.

    “It is our policy to investigate corruption when there is a complaint,” he told reporters after witnessing the signing of a Memorandum of Understanding between MACC and government-linked company (GLC) Sabah Electricity Sdn Bhd (SESB), at Wisma SESB, near here today.

    Abu Kassim was commenting on Hiew’s expose of alleged irregularities in rural Sabah projects.

    Questioned as to whether Sabah DAP had lodged an official complaint with MACC, Abu Kassim said the state MACC only had the media report to go on so far.

    He said it was not an easy task to fight corruption, saying “last year alone, out of 944 cases reported throughout the country, 424 cases involved the offering or giving of bribes.”

    “So far this year, we have already recorded 357 similar cases,” he added.


    All projects awarded through open tenders, says Shafie

    Minister Shafie Apdal claims that the lowest bids do not always meet the criteria.

    FMT, November 15, 2011

    KOTA KINABALU: Rural and Regional Development Minister Shafie Apdal has rubbished allegations by the opposition that projects awarded by his ministry in Sabah were “overpriced” and reeked of corruption.

    “All the projects involving the ministry were awarded on an open tender basis and was tendered by thousands of companies including firms from the peninsula.

    “They all went through layers of filters involving the Finance Minister, PWD (Public Works Department), government representatives at the state level and officers from my own ministry,” he said.

    Shafie was refuting claims by state opposition DAP which last week showed “documentary” evidence of overpriced projects in Sabah.

    In disclosing the “overpriced” payouts by Shafie’s ministry, Kota Kinabalu MP Dr Hiew King Cheu said some projects were awarded at 15 times or 1,500% higher than the normal price.

    He cited as an example the “rural power supply project for the connection of power grid No1” (for 2011–2012) which was awarded at a price of RM41,736,809.77.

    He said the lowest tender price was only RM7,775,000. He said the difference between the quotes was RM33,961,809.77.

    Hiew said 49 of the 129 projects announced for Sabah were awarded at exorbitant prices.

    “None of the projects went through a tender board and most of the companies awarded the projects are RM2 companies.

    “Some of the contractors involved are found to be closely linked to certain senior BN-Umno politicians from Sabah.

    “We strongly believe there is a strong element of corrupt practice and abuse of power,” Hiew had said.

    Lowest bid don’t always win

    In his rebuttal, Shafie said that low bids do not necessarily mean the contract would go to that bidder.

    “There’s a committee that fixes the criteria. The lowest bid doesn’t necessarily win the project.”

    “For instance, if a project costs RM100 million and a company bids for it at RM20 million, imagine yourself whether or not it can implement the project.

    “Must we compromise just because it was the lowest bid and award the company the project?” he asked.

    He said he was sure that Hiew was aware of the procedures involved in bidding for a project and that any decisions made by the committee must be forwarded to the Finance Ministry before the final decision is made and contract awarded.

    “It means that the final say does not lie with us,” he said.


    EPISODE 24: Don’t talk about Kelantan, look at Selangor


    Malaysia Today, Monday, 09 April 2012

    The Current Assets for 2011 was RM1,739,983,000. The Current Liabilities for 2011 was RM2,388,970,000. All these indicate that Puncak Niaga is a bankrupt company (PN17) and should not be allowed to continue managing the water resources in Selangor and that the Privatisation and Concession Agreement should be terminated.

    THE CORRIDORS OF POWER Raja Petra Kamarudin

    Kelantan rapped for not providing clean water

    PROLONGED ISSUE: Supply to 39 schools in state at critical level, warns deputy minister

    THE Pas-led Kelantan government needs to do more in providing cleaner water to the rakyat in the state, especially in schools, the house was told yesterday.

    Deputy Education Minister Dr Puad Zarkashi (BN-Batu Pahat) said his ministry was working with the Health Ministry to look into improving the water quality in Kelantan. However, Puad said efforts should not be done only by the Federal Government. He added that the state government must also step in and look at the problem seriously.

    “We are urging the state government to take the issue seriously as it has been prolonged. Perhaps, the state government would want to consider setting up a steering committee to look into possible solutions to solve the water problem.”

    Puad was replying to a question by Datuk Ibrahim Ali (Ind-Pasir Mas) on whether the Education Ministry intended to implement water supply projects in the state as the students have long been supplied with contaminated water that affects their health. Puad said the education ministry had identified 39 out of 77 schools in Kelantan which were at a critical level of water supply.

    “Several initiatives have been taken by the ministry to improve the situation. The Health Ministry has sent their officers to monitor the water condition in Kelantan and the ministry is trying to look for alternative water sources for the schools.”

    Puad also urged the state water management company, Air Kelantan Sdn Bhd, to increase the quality of water to the schools.

    In 2009, the Auditor-General’s Report stated that the quality of water supply in Kelantan did not meet the standards set by the Health Ministry. The report had stated that Air Kelantan did not place priority in cleaning its water pipes. Kelantan has 28 water treatment plants.

    Puad said the government had allocated RM27.3 million since 2008 for the construction of 91 tube wells. Of that number, 83 have been completed while the remaining eight are still under construction, he added. — New Straits Times


    That was what the New Straits Times reported on 27th March 2012 regarding the water problem in Kelantan. Actually, I had already written about this 12 years ago on 28th September 2000 in an article called: Killing the Kelantanese with no water. I again wrote about it last year on 23rd November 2011 in an article called: You first have to know the meaning of the word (read the article here:

    Okay, while Umno and Barisan Nasional scream about the water problem in Kelantan, allow me to also scream: but this time about the water problem in Selangor. Both states, incidentally, are under Pakatan Rakyat administration, but the problem in Selangor is different from that in Kelantan.

    The Selangor State Government has been having a long-running battle with the Barisan Nasional Federal Government regarding the consolidation of the water industry in Selangor — to place it under a company 100% owned by Selangor and to dismantle the privatisation of the water industry currently under the control of water concessionaires.

    The main obstacle in getting the Federal Government to agree to this plan is, of course, because of the involvement of Umno cronies in the Selangor water industry, namely Tan Sri Rozali Ismail (picture below) through Puncak Niaga (M) Sdn Bhd (PNSB) and PNSB’s subsidiary, SYABAS.

    Tan Sri Rozali Ismail, shareholder and Chairman/Director of Punck Niaga (M) Sdn Bhd.

    Through the consolidation of the water industry, Rozali will stand to lose a colossal amount of money as he has over-extended himself and will only agree to a pricing that recognises his “future loss of business and profits”.

    Selangor, understandably, will not agree to compensate him for future profits as the State Government’s contention is that the pricing must be based on the assets to be taken back from the concessionaires, which they had earlier acquired from Selangor.

    A closer look at the financials of PNSB will tell the story as to why Rozali needs to cover “future profits”. His companies are more or less bankrupt so he wants to make money the quick way at the expense of Selangor and the Malaysian taxpayers.

    Please note that when Rozali was given the water concession and the privatisation rights, he was then the Treasurer of Umno Selangor. And do you have to be a genius to figure out where the bulk of the “funds” derived from the privatisation went to?

    In short, as in most of these cases, Rozali was acting as a front for Umno and the money went into Umno’s pocket. Now do you know how general elections are reduced to BUY-elections?

    Just like in the Tan Sri Tajudin Ramli and MAS case, I suppose, Rozali must be saying to himself: why should I carry the loss alone since this scheme was to enrich Umno and I was merely Umno’s nominee?

    To further understand the numbers, please read the following documents:

    1) Puncak Niaga Financial Statement FYE 2011 (

    2) Puncak Niaga Announcement on PN17 Waiver (

    3) Puncak Niaga Financial Statement FYE 2010 (

    1) From Puncak Niaga’s Financial Statement FYE 2011, in particular the Condensed Consolidated Statement of Financial Position on page 4, you will see that:

    a) The Current Assets for 2011 was RM1,739,983,000

    b) The Current Liabilities for 2011 was RM2,388,970,000

    (This gives the company a Nett Current Liability position of RM648,987,000)

    c) The total equities is in deficit to the tune of RM16,053,000

    All these indicate that Puncak Niaga is a bankrupt company (PN17) and should not be allowed to continue managing the water resources in Selangor and that the Privatisation and Concession Agreement should be terminated.

    2) From the Puncak Niaga Financial Statement FYE 2010 on page 259, you will see that:

    i) The Executive Directors’ Remunerations amount to RM15,580,872

    ii) One of them earned between RM6,800,000 to RM6,900.000

    Given the above and also:

    1) That PNSB/SYABAS has not been able to reduce the Non-Revenue Water — which currently is above 30% (when it should be not more than 20%) — due to non-replacement of pipes, as provided in the Concession Agreement.

    2) That SYABAS has been paying the water treatment companies only about 40% of their bills since Pakatan Rakyat took over the state government. (The companies are now suing SYABAS for about RM2 billion in unpaid bills).

    3) That SYABAS has also refused to approve the water supply for new development projects in Kuala Lumpur and Selangor, thus jeopardising the Selangor as well as the Federal Government’s ‘Transformation Plan’ — as no new development projects, residential, commercial and industrial, will be approved by SYABAS.

    The relevant questions that we now need to ask are:

    1) Why is it that the Federal Government will not allow Selangor to terminate the Concession Agreement with PNSB and SYABAS?

    2) Why is it that the Bursa has given PNSB a waiver when clearly it is already a bankrupt company?

    3) Why is it that the Federal Government will not insist that SYABAS approve water supplies for new development projects in Selangor?

    Prime Minister Najib Tun Razak is going around Selangor telling the business community that all these water issues will be resolved once and if Barisan Nasional were to win back Selangor, just like they are telling the Kelantanese that they will get better quality water once and if Umno wins back Kelantan — in the meantime you can die of Cholera, which many are.

    Of course, this will be at the expense of the rakyat, as SYABAS has been asking for a 37% increase in the rates since 2009 — as provided for in the Concession Agreement — and another 25% increase, supposed to be in 2012.

    So, if Barisan Nasional were to win back Selangor, all the government needs to do is to approve the rates increase, as requested by SYABAS, and pay them back the amount of “short-fall” in their billings for the last few years since Pakatan Rakyat took over the state in March 2008.

    In short, it will be a windfall for SYABAS if Umno takes back the state — just like how the government has promised the FELDA settlers and every man and his dog a “windfall” if Barisan Nasional wins the coming general election.

    The bottom line is: Umno just can’t afford NOT to win back Selangor. There is just too much money involved here. And that money is our money, money belonging to the Malaysian taxpayers.

    Do you need one reason why Pakatan Rakyat must not lose Selangor? I can give you many billions of reasons. And those billions are tied to just one issue: the water privatisation in Selangor and the billions, which have gone, and which will continue to go, into Umno’s pockets.

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  • paloi sangat ke anda?

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  • paloi sangat ke anda?

    Sudahlah bercakaran sesama kita. Tumpukan sepenuh perhatian dan untuk HANCURKAN BeeEnd. Jangan jadi bodoh dengan terus menyokong BeeEnd. Kita semua tamatkan riwayat BeeEnd. End kan BeeEnd.