Another VVIP to be charged?

Journalists are converging at the Putrajaya Sessions Court in anticipation of a major personality to be charged today for graft.

More than 15 journalists have been camping out at the court since 9am, while the Attorney-General's Chambers is refusing to confirm nor deny the rumours.

It is heavily speculated that the individual is a prominent Umno leader.

It is believed that the arrest is in connection with a multi-billion-ringgit cost blowout on the Port Klang Free Zone (PKFZ), one of the country's biggest financial scandals.

Two weeks ago, former transport minister Dr Ling Liong Sik, 67, wasarrested for cheating the cabinet over the sale of a piece of land in Port Klang for the project.

He was alleged to have misled the cabinet in 2002 into agreeing to purchase 999.5 acres of land on Pulau Indah which will cost the government an extra RM720 million.

The former MCA chief pleaded not guilty and is currently out on RM1 million bail.

Loss-making venture

Ling, the most high-profile personality to be connected to the scandal, faces up to seven years in jail if convicted.

Three others, including former Port Klang Authority general manager OC Phang, were charged in December last year. Their trial is still ongoing.

A report by the PKFZ's external auditors has indicated the venture would be loss-making until 2029 because of the cost of paying its debts and would only break even in 2051.

The commercial and industrial project was initially projected to cost RM1.82 billion but is now expected to balloon to RM12.5 billion.

[More to follow]