WHY EVERYONE MUST REGARD THE PENANG TUNNEL PROJECT AS HOAX

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Even from the beginning, we could sense something is not right on how Penang DAP-led and Guan Eng managed the RM6.3 billion underground tunnel project. This project proposal was finalised in June 2012, about a year before the GE13 in May and ever since then, Guan Eng leveraged it for his election campaign.

When questioned why Guan Eng and the Penang DAP government rewarded the project to a company that only has a track record in the fashion industry for women and men’s apparel, expect excuses rather than affirmative answers. A need to reassess the person whom Guan Eng trusted to run this billion project, the Chairman of Consortium Zenith BUCG Sdn Bhd’s (CZBSB) who is also the owner of Voir and why it should be known to the people and in particular the Penangites.

Officially, Consortium Zenith BUCG Sdn Bhd (CZBSB) has been awarded this project but there are some controversial issues transpired since the outset. It is said that CZBSB was only incorporated in July 2012 while Guan Eng announced its approval in June 2012 and the company was established with a paid-capital of RM2.00. Is Guan Eng telling us that DAP’s CAT (Competetive, Accountability, Transparency) policy allows appointing a non-existent company for the state billion project?

A further search found that CZBSB Chairman Zarul Ahmad Mohamad Zulkifli is someone with a criminal record involved with loan scams. He pleaded guilty to violating the Banking and Financial Institutions Act by exceeding their limits as well approved a loan of RM126, 876,705 while serving at Rakyat Merchant Bankers Berhad (RMB).

More controversies persist when this DAP mega project was not approved by the Ministry of Works whereas Guan Eng has made out that as though everything is running smoothly. It was disclosed that Guan Eng has approved for Penang to pay RM377 million for a report that was never submitted to the ministry.

Last week the MACC raided 3 Zenith subsidiaries, Ewein Zenith Sdn Bhd, 555 Capital Sdn Bhd and the Consortium Zenith Construction Sdn Bhd in Penang and together with 4 Penang state government agencies namely Public Works Department, State Secretary Office, State Revenue and Mines Office and Valuation and Property Department. It is understood that the MACC’s massive investigation involved the land swap.

This reminded us of Guan Eng’s answer when CZBSB was heavily criticized for being under-capitalized and lacked experience. He seems to have resolved the problem when later announced that 2 giant companies from China have agreed to invest and is now one of the shareholders.The company from China is told that they have substantial experience in construction and has a paid-up capital of RM4.6 billion.

But when investigated, these China companies are no more the shareholders of the Special Purpose Vehicle (SPV). Surprisingly, 39% now belongs to the fashion company VOIR Holdings which is also chaired by Zarul Ahmad Mohamad Zulkifli who obviously has a criminal record.

There is nothing wrong if a company diversifies its business but what is highlighted is why it is not officially announced about the conversion of shares from the two China giants to a fashion company? Is this also the reason why Guan Eng and the DAP Penang government refuse to go for an open tender? Hence, does this means that this mega project which is said to have gone through the ‘Request for Proposal’ process and swapped shareholders, they are now void?

Too many con jobs done by Guan Eng and the Penang DAP government in this tunnel mega project. It is thus high time for MACC to investigate and end the ploy so that the Penangites are not fooled any longer. They need to be stopped all at once.

  • pru14.tv

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