KUALA LUMPUR, Nov fifteen Tan Sri Nor Mohamed Yakcop changed his sworn statement today, reversing his assertion made a day earlier which Tun Dr Ling Liong Sik's await minute in a Port Klang Free Zone (PKFZ) plan amounted to a supervision guarantee.
The former second financial apportion testified yesterday which only a Finance Ministry could issue a minute of await with a Cabinet's approval, as well as which every time such a minute was issued, a supervision would have to bear a shortcoming if anything went wrong.
Nor Yakcop additionally said which Dr Ling's minute of await was essentially a "guarantee letter" as it helped secure a top-tier rating for holds lifted for a construction of a scandal-hit Port Klang Free Zone (PKFZ) as well as was sold for a profit of RM40 million.
But a apportion in a Prime Minister's Department additionally stressed which a await minute from a transport apportion had not perceived a capitulation of a Finance Ministry or a Cabinet.
"I got a sense which his (Nor Yakcop) justification yesterday showed which a await minute is a pledge letter," said defence counsel Wong Kian Kheong.
Wong proceeded to read out excerpts from a sworn statement since by Attorney-General Tan Sri Abdul Gani Patail in 2009 during a Public Accounts Committee (PAC) inquiry in to a PKFZ project.
According to a lawyer, a A-G had said which Dr Ling's await minute was "not a supervision guarantee" as it did not give any assurance as to either a supervision would ensure PKA would make any amends amount for a project.
"I have shown a A-G's opinion. You still hold to your view which P148 (Dr Ling's await letter) is a pledge letter?" asked Wong to which Nor Yakcop hesitantly answered "no".
But a apportion sought to insist himself after during a prosecution's re-examination, saying which a reason why he viewed a await minute as a supervisi! on pledg e was due to Malaysian Rating Corporation (MARC)'s three times A rating for a holds issued after a await letters had been since by a Transport Ministry.
"Because you saw a MARC had since a three times A rating for a holds ... MARC saw a letters as a guarantee. When you looked during a await letters, in all you deliberate it as a minute of guarantee."
Nor Yakcop additionally said which nonetheless a supervision listened to as well as mostly followed a A-G's views, it was not "bound" to always reside by them.
Critics allege which a minute of await penned by a then-transport apportion upon May 28, 2003 which coincided with his final day in bureau as well as three others by his successor, Tan Sri Chan Kong Choy, were seen by a marketplace as supervision guarantees to do PKA's obligations to landowner Kuala Dimensi Sdn Bhd (KDSB).
Dr Ling was charged in July final year with intentionally mean action a Cabinet in to commendatory a land squeeze for a PKFZ, which resulted in wrongful waste for a government.
The prosecution has argued which a one more interest of 7.5 per cent per annum, amounting to some RM720 million, had pushed Port Klang Authority's (PKA) land squeeze from RM1.09 billion to RM1.88 billion for a port project.
The former MCA boss additionally faces dual alternative charges of mean action a Cabinet in to desiring which a squeeze during RM25 psf as well as a 7.5 per cent interest rate were concurred as well as concluded to by a government's Valuation as well as Property Services Department (JPPH) despite meaningful which there was no such agreement.
Dr Ling faces up to 7 years' jail as well as a fine if convicted of a principal charge underneath Section 418 of a Penal Code.
The trial resumes tomorrow morning.
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