The 24km (some say 22km) project was given to UEM, one of the Umno companies, without a tender.Isn’t PM Abdullah also the President of Umno? Isn’t this a case of blatant abuse of power and conflict of interest?
While we know for certain that the Penang Second Bridge has been awarded to an Umno company called UEM without a tender, we are still not sure about many other questions surrounding the project.
What is the real cost of building this bridge? RM2.8 billion or RM3 billion? How much money will be pocketed by Umno leaders and cronies through leakages?
What’s the role of Khairy Jamaluddin, SIL of AAB and his buddy Patrick Lim in the project? Was there an insider trading committed as reported by RPK of malaysia-today.net?
Umno is the mother of all evils!
RPK has the story. Read on if you have more time…
Govt to fast-track 2nd Penang bridge to benefit bumiputeras, says Nor Mohamed
The government wants to fast-track the construction of the second
Penang bridge to ensure that it quickly benefits bumiputera entrepreneurs in the state, Second Finance Minister Tan Sri Nor Mohamed Yakcop said.He said the government would ensure that Malay entrepreneurs in Penang enjoyed the spill-over effects of the second bridge as well as other major development projects on the island. “We are in discussions with the relevant parties there to see how best the Penang bumiputera in particular will benefit from these projects,” he told reporters after launching the UEM Group Young Executive Scheme (UEM YES) in Putrajaya on Sept 12.
Nor Mohamed said the financing of the second bridge project was not an issue as the government was in discussions with UEM Group to explore the optimal financing scheme.
UEM group is the concessionaire to build, manage, operate and maintain the second Penang bridge, a project approved by the Cabinet as a private finance initiative (PFI) under the Ninth Malaysia Plan.
Its managing director and chief executive officer Datuk Ahmad Pardas Senin said the company was still exploring its financing options to fund the second bridge project.Note three things in the above report. First is the statement by the Finance Minister II that the bridge would benefit bumiputera contractors in the state. Second, the government will not be paying for the bridge so UEM will have to raise the money themselves. Third, who owns UEM?Okay, now read the following e-mail message I received. This is one such message of many that I receive every week from disenchanted and disgusted Malaysians who feel enough is enough and the buck stops here. Anyway, for those new to cyber-world and who do not quite comprehend the meaning of WYSIWYG, this means ‘what you see is what you get’. And this is exactly what you are going to get as far as the Second Penang
Bridge is concerned.The question, however, is not whether you are going to get what you see but more whether you are able to see or not what is really going on. If not, then allow Malaysia Today to remove the blinkers from your eyes and help you see the light. Then what you see will be what you get, and if you don’t like what you see then stuff it. That’s your problem and the price you pay for not understanding how to exercise your rights and responsibility as a voter.
And this is that message I received from the insider:
I know that the bridge will be subcontracted fully to a consortium of Mainland Chinese construction companies. But the full value of the contract is US$650 million, which is RM2.32 billion. So why did Abdullah Ahmad Badawi announce the project as RM3 billion? Who gets the ‘leakage’?The Penang bridge contract is fully subcontracted on a design-and-build basis to China Road & Bridge Construction Group, the largest road and bridge builder in China, which is wholly-owned by the state. The bridge design was made by China Railway Bridge Survey and Design Institute, with inputs from UEM.I am trying to get direct confirmation from the Chinese parties as to the exact contract price offered to them by UEM. The last I heard (about nine months ago) was that the contract was worth US$600 – 650 million. A year ago, Koizumi called Abdullah Badawi to ask him to consider using Japanese subcontractors for the job. Abdullah Badawi flatly told Koizumi that he had decided to award the contract to China.I also know that the Equine Group has been given huge tracts of land around Batu Kawan a year earlier.
Well, that was the e-mail message I received. Maybe the person concerned can update us with the latest information he or she may have received since then by posting his or her comments in the Blog.
Now, who is Equine mentioned by ‘Deep Throat’ in his or her message above? Equine is a group owned by a Penang Chinese businessman who goes by the name of Patrick Lim. Tun Dr Mahathir Mohamad calls him Patrick Badawi though, and for good reason too. Patrick Lim a.k.a Patrick Badawi is the man behind the RM300 million a year Terengganu Monsoon Cup. He is also the ‘economic advisor’ who decides how the RM1 billion a year Terengganu Oil Royalty or Wang Ehsan is spent.
According to some other insiders from Terengganu, Patrick Lim attends official state meetings although he is not a member of the Terengganu State Government. And these state meetings are not chaired by the Terengganu Chief Minister, Idris Jusoh, as they should. They are instead chaired by the Prime Minister who acts as the de facto Terengganu Chief Minister.
Patrick Lim then tables his plan on how to spend the RM1 billion a year and when Idris Jusoh asks any questions or seeks clarification, the Prime Minister cuts him off and says that Patrick Lim knows what he is doing so just leave the details to him. All Patrick Lim needs to do is present his budget and what the budget would be utilised for. No further details are required.
There was one incident when Patrick Lim shoved some documents for Idris Jusoh to sign but he refused to do so because he had no details on what the project was all about. Within an hour Idris Jusoh received a phone call from the Prime Minister’s office instructing him to sign the papers.
Anyway, Patrick Lim’s antics in Terengganu and the hold he has over the state, through the Prime Minister’s office, is no longer news and most know about this, down to the fishermen in the fishing villages of Terengganu. What most do not know yet though is how this business partner of the Abdullah Badawi family is going to benefit from the RM3 billion Second Penang Bridge project.
The direct benefit will of course go to Umno, the owner of the company that has been given the concession to build and manage the bridge. Immediately it will be making about RM700 million, the differential between the contract price and the sub-contract price to
China. Then there is that large tract of land around the bridge area which, according to our Deep Throat, was acquired by Patrick Lim a year before they announced the bridge. This is of course insider trading and highly illegal, and in some countries the entire gang of conspirators will be sent to jail. But when, in this country, you do not go to jail for murder, then it is not surprising if this all goes unnoticed and unpunished.
Yes, Islam Hadhari, modern or progress Islam, and the ‘founder’ of Islam Hadhari is no better than a Mat Rempit.
I bet some have never even heard of Equine before this, although the name Patrick Lim may ring a bell. Well, then read on and arm yourself with more knowledge on how the First Family is ripping off this country and robbing you blind in broad daylight.
Yes, the Second Penang Bridge. Is it meant to ease traffic flow to and from Penang or is it meant to fill the pockets of those who walk through the corridors of power? You be the judge.
Equine Capital Berhad (http://www.equine.com.my/)Equine Capital Berhad
No. 1, Jalan Putra Permai 1A
Seri Kembangan 43300Phone: (03) 8941 7878Business Summary
Equine Capital Berhad is an investment holding company. The Company operates through three segments: property development, property investment and investment holding. The principal subsidiaries of the Company include Taman Equine (M) Sdn Bhd, Syarikat Tenaga Sahabat Sdn Bhd, Kuala Lumpur Industries Berhad and Kuala Lumpur Industries Holdings Berhad. The Company’s source of income from property investment comes from Wisma KLIH, a 13-storey office building located in Bukit Bintang. As of March 31, 2006, the building’s occupancy rate stood at 38% of its total lettable area of 5,129 square meters. During the fiscal year ended March 31, 2006, the Company launched The Sovereign in
Permai Park, comprising 102 units of semi-detached terrace houses. The Company through its subsidiary, Syarikat Tenaga Sahabat Sdn Bhd, has also embarked on another mixed residential and commercial development of Taman Mestika and Taman Mega Jaya on 23 acres land banks located in Cheras, Kuala Lumpur.
Chairman of the Board: Soo Kit Lim (Patrick Lim)
Chief Executive Officer: Yik Fai Fung The STAR, Thursday August 3, 2006
Penang‘s second bridge and monorail projects given cabinet approval KUALA LUMPUR: The Cabinet has given the green light for a second
Penang bridge as well as a monorail system on the island to be built through Private Finance Initiative under the 9th Malaysia Plan. Prime Minister Datuk Seri Abdullah Ahmad Badawi also said the Government would study the proposal for a bullet train between Kuala Lumpur and Singapore. He said that for the second Penang bridge, the concession to build, manage, operate and maintain the project would be given to the UEM Group, the concession holder for the present bridge link to the mainland built in 1985. “UEM is a company which has extensive expertise and experience in the matter,” said Abdullah, who is also Finance Minister. For the Penang monorail project, eligible companies would be invited to submit Requests for Proposal for its implementation, Abdullah said in a statement issued from his office in Putrajaya yesterday.
As for the proposal for the bullet train submitted recently by YTL Group, he said the Government viewed it positively. He said the Government would ask for a socio-economic study to be undertaken to ascertain the project’s impact on the national interest before proceeding with it. Through PFI, Abdullah said, the financial risks associated with a project would be borne by the private sector while the Government could use the expertise and efficiency of the private sector to undertake complex infrastructure jobs such as the monorail and bridge projects.
“The Government will provide support, and facilitate private sector companies which undertake these projects,” he said. Abdullah said this showed the Government’s commitment to further streamline the privatisation programme via PFI besides encouraging the private sector to be the catalyst for economic growth.
When tabling the 9MP in Parliament on March 31, the Prime Minister had announced that Penang would get a second bridge and a monorail system. The 24km second bridge, which will connect Batu Kawan in Seberang Prai to Batu Maung on the island, is estimated to cost RM2.8bil. UEM is also said to be interested in the Penang monorail project. The company already has proven expertise in the field, having designed and constructed the 29km-long Putra LRT project. Analysts say the light monorail transit system will cost about RM1.1bil to build.
The bullet train project, estimated to cost RM8bil, is expected to cut travelling time between Kuala Lumpur and Singapore to 90 minutes, making the journey just 40 minutes longer than it would take by air. The bullet train, which runs on electricity, will not only benefit Tenaga Nasional and the independent power producers but also boost tourism.