Why would a government which had already financed RM976 million for the construction of a highway which cost RM1.3 billion want to privatise it to a company which then took a RM343 million loan to complete the project?
This is the case in the award of the 26-km Maju Expressway (MEX) toll concession to Maju Expressway Sdn Bhd (MESB), the company owned by Maju Holdings Sdn Bhd under Abu Sahid Mohamed.
Describing it the best example of "highway robbery in broad daylight", Petaling Jaya Utara member of parliament gave a strongly-worded appraisal of the latest development.
“The MEX is the most clear-cut case of making tax-payers’ pay for the construction of the highway, and subsequently allowing a BN crony to milk the tax-payers further by charging toll, in this case, over a period of 33 years," he said in his statement.
The MEX highway controversy has been sparked by public-listed EP Manufacturing Bhd’s announcement to acquire the highway for RM1.7 billion.
As the cost of construction is RM1.32 billion, Maju Holdings will make a hefty profit of RM1.09 billion from the sale.
According to Pua, the Malaysian Ratings Corporation reported that Abu Sahid (left) had only invested a mere RM60 million, and is set to make over RM1 billion following the acquisition.
"The rape of Malaysian tax-payers which made a billionaire out of Tan Sri Abu Sahid Mohamed on this exercise alone is simply outrageous and unacceptable.
"Out of his 'profit', RM976.7 million was paid for by Malaysian tax-payers," Pua added, and echoed the call by PKR to return public money of RM976.7 million.
Pua warned that failure on the part of prime minister Najib Razak to address the issue would be met with "a relentless campaign against this highway robbery by BN and its cronies all the way to the 13th General Election”.
-Harakahdaily
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