This video shows how shameful that a Penang EXCO and ADUN can be when he denies everything, answers nothing but try to divert using personal attacks.
Fashion company Voir Bhd is listed on Bursa Malaysia and is now revealed as a large shareholder of the Penang Tunnel SPV.
Two days ago, I had exposed that Voir Bhd, in their Aug 2017 submission to Bursa Malaysia when taking a stake in the Tunnel SPV had revealed surprising differences in construction cost of the project components compared to what was in the official written answer from Penang EXCO Lim Hock Seng in the Penang State Assembly in Mar 2017 (5 months ago).
The contract value for all the 3 roads have increased significantly while that for the tunnel has decreased.
In particular, the first road contract cost has jumped 43% or RM336mil from RM776mil to RM1.1116 billion while the Tunnel contract cost has dropped 21% (almost RM800mil) from RM3.6 billion to RM2.8 billion.
I had also shown Hock Seng’s written answer which shows the breakdown in the cost of reports that showed that the reports cost for the first road is RM120mil – much higher than the RM96mil report cost for the more complicated tunnel that cost 10 times more to construct.
Documents can be viewed here.
Taken together, this is strong evidence of front-loading where the majority of the reports and construction cost have now been shifted from the Tunnel to the roads – allowing the Tunnel SPV to collect the bulk of the RM6.34 billion upfront before even starting on the tunnel itself.
Yesterday, Lim Hock Seng held a press conference to reply me.
Firstly, he gave the lame answer that he cannot comment on the figures given in Voir Bhd’s statement and asked me to ask Voir Bhd instead.
This is despite Voir’s chairman is the same person as the major shareholder and chairman of the Tunnel SPV instead.
Or is Hock Seng implying that Voir Bhd had made a false submission to Bursa – which is a also a serious offence?
Voir had also said that the SPV had received a letter of award from the Penang Govt on 9 May 2016 to undertake the construction works the first road.
Perhaps, Hock Seng can publicly reveal this letter which will show the contract sum for the first road to prove that Voir has made a false submission to Bursa?
On the other had, if the letter shows Voir Bhd is correct then someone has misled the Penang State Assembly.
Hock Seng also cowardly refused to show his own written answer which shows the breakdown of reports cost for each of the 4 components of the project.
Instead, he claimed that I am lying by saying that the cost of feasibility studies for the first road is RM120mil which cannot be true since feasibility studies for all 3 roads is RM31mil only.
But I did not say feasibility studies alone. I said cost of total reports -which includes feasibility and detailed design for the first road is RM120mil – and this is based on Hock Seng’s own written reply in the Penang DUN.
Hock Seng should now show to the public his own written reply that details the cost of reports for each of the 4 components to prove that there is no front-loading.
Instead of answering me properly, Hock Seng then took to personal attacks.
To accuse me of being a paid blogger shows he has no proper answer other than personal attacks.
I gave you clear written proof from your own self and also published official submissions to Bursa and all you can do is to accuse me of being a paid blogger an also ask me to ask Voir Bhd myself?
How lame is this? Is this the quality of DAP elected reps? This shows you cannot answer me properly and have something to hide.
Perhaps I should sue him and ask him to prove when, how much and who has paid me to “blog”.