KUALA LUMPUR, November nineteen The Selangor supervision hopes to finally settle the score with MCA tomorrow after it tables the highly-awaited white paper upon the Talam Corporation debt restructuring agreement, the deal which MCA once labelled the RM 1 billion bailout scandal. Mentri Besar Tan Sri Khalid Ibrahim(picture), who will release the white paper during the state legislative public sitting here, pronounced currently which which the request will reveal the full sum of the state's 2010 agreement with the uneasy skill developer.
"I am assured the people will finally see whose lies will be exposed," he pronounced in his Budget 2013 during the state public this morning.
MCA Young Professionals Bureau chairman Datuk Chua Tee Yong had not long ago alleged of supports abuse by the Selangor government, claiming which Khalid's administration department had paid for over Talam Corp's RM676 million resources to clear the firm's outstanding debts of RM392 million to three state subsidiaries.
He further claimed which the RM392 million in the extra budget approved by the state public in November 2010 to Mentri Besar Incorporated (MBI) was used by the state supervision for the alleged bailout.
But in retaliation, Pakatan Rakyat (PR) lawmakers have denied this as well as called out Chua for his allegedly "stupid blunder", claiming which instead of bailing out Talam Corp, the state supervision had only restructured the firm's debts to safeguard the monies were reclaimed in full.
"However, to me, what is some-more critical is the doctrine we should learn from this emanate upon Talam.
"However many times we have explained what happened, there are still those between us who failed to understand... or refused to understand.
"What some-more when ther! e are ma licious elements forever operative to upset the people," Khalid pronounced currently in his speech.
"The subject is how did it come to this?" the first-term mentri besar asked.
"My answer this is the result of 50 years under Barisan Nasional's (BN) rule," he said.
In the state government's prior replies upon the issue, it was explained which Talam Corp's RM392 million debt to three state subsidiaries had originally been incurred during Barisan Nasional's (BN) reign in the state as well as was deliberate the "hidden debt" as it was never recorded in the three firms' books.
Talam Corp, right away well known as Trinity Corporation Berhad, had afterwards owed Universiti Selangor (Unisel) as well as Permodalan Nasional Selangor Berhad (PNSB) RM277 million as well as SAP Holdings the auxiliary of listed association Kumpulan Hartanah Selangor Berhad (KHSB) RM115 million, for the sum of RM392 million.
But after the state supervision fell to PR in Election 2008, the "hidden debts" were after "uncovered" as well as the state moved rught away to recover the monies owed by Talam Corp, instead of bailing out the organisation as claimed by Chua.
The state government, through the state assembly, had in November 2010 allocated Mentri Besar Incorporated (MBI) to handle the pick up of the RM392 million owed by the uneasy skill developer.
This in conclusion done the MBI the indicate male to follow Talam Corp for the debts.
After months of negotiations, Talam Corp finally agreed to the full amends of the RM392 million to MBI in the form of cash as well as resources in dual tranches the single upon Mar 12, 2010 as well as the second, the month after upon Apr 9.
According to state lawmakers, all allotment deals were entirely disclosed to Bursa Malaysia as well as done publicly available upon the bourse's website.
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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