Lim Sian See
Penang Undersea Tunnel updates:
The Tunnel SPV confirmed in a statement yesterday that it only had a paid-up capital of RM26.5mil only today – far higher than what it was when it won the tender. It said that given enough time, they will reach the RM381mil minimum paid-up capital to qualify for the project.
So, that means it has never met and still does not meet the RM381mil requirement to qualify for bid for the project?
And the Penang Govt is okay with it and will give it as long as they want to reach the RM381mil paid-up capital?
Why is the Penang Govt so nice? Can I also win a RM6.34 billion tender first and then you give me as long as I want to qualify to meet the tender requirements?
P.Ramasamy said that MACC should investigate why the Tunnel SPV company paid RM3mil to an UMNO MP and RM19mil to another individual. Reports said that this RM22mil was essentially “protection money” to stop MACC from investigating.
Since MACC did not stop investigating, this means that the Tunnel SPV must have been conned – which is why they want back their money.
The question then is if the Tunnel SPV did nothing wrong and there is no corruption then why did it decide to pay RM22mil (or almost all its RM26.5mil paid up capital) to KAODIM?
If nothing wrong why need to pay RM22mil to KAODIM?
Source: Lim Sian See