MCA currently expelled documents which allegedly prove which Selangor had used more than RM260 million to bail out bum construction organisation Talam Corporation Bhd through difficult accounting.
Making good histhreatto display a new scandal in Selangor, MCA executive cabinet member Chua Tee Yong pronounced a Pakatan Rakyat administration department had not been forthcoming in debt liberation practice involving Talam.
However, he stressed which a volume of a bailout is not a RM1 billion scandal he had formerly hinted at, though which a RM1 billion refers to a sum volume circulating in a "questionable deal".
Chua pronounced which whilst a state had picked up all debts which Talam owed state companies or agencies, though a facts showed which a state had instead gave money to Talam for a company's assets.
"We have been taken for a ride," he pronounced during a press conference during a celebration domicile today.
Making good histhreatto display a new scandal in Selangor, MCA executive cabinet member Chua Tee Yong pronounced a Pakatan Rakyat administration department had not been forthcoming in debt liberation practice involving Talam.
However, he stressed which a volume of a bailout is not a RM1 billion scandal he had formerly hinted at, though which a RM1 billion refers to a sum volume circulating in a "questionable deal".Chua pronounced which whilst a state had picked up all debts which Talam owed state companies or agencies, though a facts showed which a state had instead gave money to Talam for a company's assets.
"We have been taken for a ride," he pronounced during a press conference during a celebration domicile today.
Talam got cash
Referring to Talam's 2010 monetary statements, Chua pronounced which a state had perceived RM392 million value of resources from Talam in an equivalent understanding for payment of a debt.
The Labis MP forked out which instead of only collecting a RM392 million debt in a form of assets, a state also entered into a allotment whereby Talam likely of RM676 million value of assets.
This would mean which a state had paid a differential volume of more than RM260 million for a additional assets, he said.
"They contend they picked up income from Talam, ! though f rom what we see it is Talam getting a cash," he said, pointing out which Talam's annual ubiquitous inform shows which Talam perceived RM266.26 million to pay a lenders following a understanding with a state.
Supporting a bailout argument, he added which Talam had prior to a allotment with a state been listed as PN17 association on Bursa Malaysia, to prove which it is bum as well as in risk of de-listing.
"After a deal, Talam is no longer underneath PN17...This is a clear cut case of bailout whereby a Pakatan supervision used a rakyat's income to assistance a listed association by shopping a lot of a assets," he said.
'State companies still owed money'
Talam had owed state companies Universiti Selangor (Unisel), Permodalan Nasional Selangor Berhad (PNSB) as well as Kumpulan Hartanah Selangor Berhad (KHSB) a sum RM392 million, with RM115 million owed to KHSB.
However, Chua remarkable which a KSHB's monetary matter as of Mar 31, 2012, shows which a co! mpany is still owed a RM115 million.
Additionally, he said, a Selangor supervision contingency explain what had happened to a RM392 million it performed through asupplementary budgetin 2009 to promote a debt liberation exercise.
"We don't know if it was used to pay a RM266 million. They should answer... Awhite paperon this was ostensible to be tabled by a end of 2010. It is now 2012," he said.
The volume since in a extra bill as well as a value of a Talam allotment would to illustrate volume to about RM1 billion, he said.
He remarkable which questions also movement over a RM300 million used in Geran Selangorku village growth grants which a Selangor supervision purports is funded by a Talam debt recovery.
Chua pronounced which he has seen no records indicating which a resources performed from Talam were developed, liquidated o! r sole o ff, so it is illogical which a RM300 million came from these assets.
"What happened to these assets? Are they sound assets?" he asked, hinting of more exposes on a acquired assets.
Read More @ Source The Labis MP forked out which instead of only collecting a RM392 million debt in a form of assets, a state also entered into a allotment whereby Talam likely of RM676 million value of assets.
This would mean which a state had paid a differential volume of more than RM260 million for a additional assets, he said.
"They contend they picked up income from Talam, ! though f rom what we see it is Talam getting a cash," he said, pointing out which Talam's annual ubiquitous inform shows which Talam perceived RM266.26 million to pay a lenders following a understanding with a state.
Supporting a bailout argument, he added which Talam had prior to a allotment with a state been listed as PN17 association on Bursa Malaysia, to prove which it is bum as well as in risk of de-listing.
"After a deal, Talam is no longer underneath PN17...This is a clear cut case of bailout whereby a Pakatan supervision used a rakyat's income to assistance a listed association by shopping a lot of a assets," he said.
'State companies still owed money'
Talam had owed state companies Universiti Selangor (Unisel), Permodalan Nasional Selangor Berhad (PNSB) as well as Kumpulan Hartanah Selangor Berhad (KHSB) a sum RM392 million, with RM115 million owed to KHSB.
However, Chua remarkable which a KSHB's monetary matter as of Mar 31, 2012, shows which a co! mpany is still owed a RM115 million.
Additionally, he said, a Selangor supervision contingency explain what had happened to a RM392 million it performed through asupplementary budgetin 2009 to promote a debt liberation exercise.
"We don't know if it was used to pay a RM266 million. They should answer... Awhite paperon this was ostensible to be tabled by a end of 2010. It is now 2012," he said.
The volume since in a extra bill as well as a value of a Talam allotment would to illustrate volume to about RM1 billion, he said.
He remarkable which questions also movement over a RM300 million used in Geran Selangorku village growth grants which a Selangor supervision purports is funded by a Talam debt recovery.
Chua pronounced which he has seen no records indicating which a resources performed from Talam were developed, liquidated o! r sole o ff, so it is illogical which a RM300 million came from these assets.
"What happened to these assets? Are they sound assets?" he asked, hinting of more exposes on a acquired assets.
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