Wednesday, July 25, 2012

Lau Weng San slams Chua’s Talam claims

Lau Weng San slams Chua’s Talam claims
From Free Malaysia Today
Patrick Lee | July 24, 2012

Selangor MB Khalid Ibrahim's 'silence' over the White Paper on Talam is because he has made his statements in the State Legislative Assembly.

PETALING JAYA: MCA’s “selective” deciphering of the Selangor Legislative Assembly’s Hansard to gain mileage over the alleged Talam Corporation scandal has come under attack.

DAP-Kampung Tunku assemblyman Lau Weng San said that MCA’s Labis MP Chua Tee Yong chose not to reveal the full contents of the Hansard when making his allegations.

Lau implied that if Chua had done that, he would have gotten his answers over Talam.
“Chua Tee Yong is selectively using the Hansard to suit his political taste.

“…There are answers in the Hansard but he has conveniently ignored it,” he told reporters at DAP’s Selangor headquarters.

Armed with copies of the Selangor Hansard, Lau said that the question of over-payment for Talam land should have never come up.

Citing Selangor Menteri Besar Khalid Ibrahim’s statement on July 13, 2010, Lau said that the money earned from Talam’s land handover should not be less than RM392 million which is Talam’s debt to Selangor.

“In other words, the issue of over-payment, which is the result of subtracting gross consideration value from professional valuation, does not arise because Talam has already undertaken to settle the debt in full,” he said.

Lau added that the state government “may eventually” consider selling its newly-gained lands based on a “gross development value” for profit.

“Since Talam has already agreed to settle the matter in full…you must get RM392 million from Talam,” he said.

MB’s anwers in Hansard

Lau also said that Khalid’s supposed silence over the White Paper and the whole issue was because the MB had answered the matter in the State Assembly before.

Reading from the July 13, 2010, Hansard, he said that the Talam White Paper needed to take into account all the agreements affected by Talam’s debt settlement.

He said that the White Paper could not possibly have been released by the end of 2010, despite the MCA’s insistence, when even Talam’s circular to its stakeholders (via Bursa Malaysia) only came out on Mac 15, 2011.

Previously, Khalid had said that the state government did not come out with the White Paper as some of its matters with Talam had not concluded yet.

He also denied that Bursa Malaysia and the Securities Commission had no role to play when it came to Talam’s debt-restructuring.

Citing Bursa Malaysia Main Market Listing Requirements documents, he said that Bursa Malaysia’s endorsement in the matter was required, and the claim to exclude it was “surprising”.

Lau also attacked Chua for the latter’s claim that some of the land handed over to Selangor was underwater, implying that it was useless.
He said that major entertainment centres such as The Mines Wonderland and Sunway Lagoon were mining ponds at one time, and were redeveloped into successful ventures.

“A smart guy will turn the mining ponds into gold mines. A guy who is not so smart will see it as fishing ponds,” he said.

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