WHAT! Another RM700 millions to PKFZ ???

Deputy Transport Minister Abdul Rahim Bakri has given an assurance that the government will pay what is due to the Port Klang Free Zone (PKFZ) bondholders.

PKA is due to pay RM723 million to the bondholders, although it has taken KDSB to court for alleged overcharging.

The Internal Revenue Board (IRB), Lim noted further, has also asked PKA to pay RM328 million owed by KDSB in alleged backdated taxes. (click here to read)

Aiyoyo, another payment to PKFZ eventhough it full with corruption scandals?

Like this, bondholders are laughing all the way to the bank with the big bonus paycheck!

This is a very bad news. This is how the taxpayer money spends. No wonder no fund for educational support and we are in deep shit.

Well, actually the question is who are the bondholders? Can we know who the bond holders are and the amounts owed to each? Well the government gonna use rakyat money to pay it, so rakyat got the right to know them.

And why should we pay for the back taxes owed by KDSB?

The govt is under no obligations to pay KDSB until full settlement of the court case has been arrived. Why should the rakyat’s money be used to pay for this while ministers who were responsible for the fiasco were able to get away without having to be penalised. National funds does not belong to these people, it is held under Trust for the Rakyat.

And why those wrongdoers are still free and not asked to answer for their mismanagement?

Someone or anybody must be held responsible.

The government actually should consider setting up a third-party account until the dispute is resolved. Should PKA decide to pay both parties, they would have to cough up over RM1 billion. This amount maybe small for Ah Tan. (click here to read about Ah Tan).

The government should hold back payments to KDSB until the court case is finalized not just pay them blindly over and over again.

PKA can withhold payment to KDSB bondholders on the basis that KDSB had failed to complete its work. PKA could also refuse to pay IRB on the same grounds.

Should we keep paying a huge amount of money to a failed project? What kind of management is that?

Billions of RM had been gone to the pockets of those bondholders. With this huge amount of money, the government could have built more schools in those overcrowded areas and even hospitals to minimise waiting period for those rakyats who are ill and in urgent need of surgery.

Most citizens don’t see a million $ in their entire lifetime; for this kind of $700 million fraud, they HANG people in China. What more $12.4 billion!!

Now I think Malaysia will be bankrupt before 2019. Thanks Idris Jala for reminding us. (click here to read about Idris Jala)