MCA central committee member Chua Tee Yong today asserted that his claim that Permodalan Negeri Selangor Berhad (PNSB) was made to be shackled in debt after taking on lands acquired by the state government from Talam Corporation has been proven true by a statement made by Petaling Jaya Utara MP Tony Pua.
Responding to the press conference held this morning by Pua who had said that PNSB was capable of handling a loan taken to acquire the lands, Chua said this was evidence to back his claim.
“I don’t know what figures he divulged in the meeting (press conference) but he did confirm PNSB took a loan of RM230 million and RM86 million of interest based on Form 34 on this deal,” Chua (second from right) told a press conference at the MCA headquarters this afternoon.
Pua had said that PNSB was in the red under the then BN-led Selangor government but had turned over to increasing profitsince the state government was taken over by Pakatan Rakyat, and thus was in a better financial position to handle the loans.
However, Chua said PNSB’s profits had nothing to do with the fact that it got into debt just to acquire the lands in Bestari Jaya and Bukit Beruntung 2.
“The whole increase of profit shows that it has nothing to do with these two pieces of land. I want to know whether these two pieces of land that they bought have a development plan,” he said.
He added that Pua had also not explained how a mere RM230 million loan was enough to cover the land cost which is worth around RM450 million.
Responding to the press conference held this morning by Pua who had said that PNSB was capable of handling a loan taken to acquire the lands, Chua said this was evidence to back his claim.
“I don’t know what figures he divulged in the meeting (press conference) but he did confirm PNSB took a loan of RM230 million and RM86 million of interest based on Form 34 on this deal,” Chua (second from right) told a press conference at the MCA headquarters this afternoon.Pua had said that PNSB was in the red under the then BN-led Selangor government but had turned over to increasing profitsince the state government was taken over by Pakatan Rakyat, and thus was in a better financial position to handle the loans.
However, Chua said PNSB’s profits had nothing to do with the fact that it got into debt just to acquire the lands in Bestari Jaya and Bukit Beruntung 2.
“The whole increase of profit shows that it has nothing to do with these two pieces of land. I want to know whether these two pieces of land that they bought have a development plan,” he said.
He added that Pua had also not explained how a mere RM230 million loan was enough to cover the land cost which is worth around RM450 million.
Earlier, Chua had continued to hammer the state government for not explaining whether it had overvalued land parcels acquired from Talam in Bestari Jaya by RM42 million and in Danau Putra by RM57 million.
He also questioned whether the state government had used its own valuers or had relied solely on Talam's own valuers.
'I want S'gor gov't to talk'
When it was pointed out that Pua had already explained that this valuation was done by the Valuation and Property Services Department, which comes under the Finance Ministry, Chua insisted that the Selangor government itself should respond on the matter.
"Why don't you ask the state to reply instead of Malaysiakini replying? I'm not very sure where you got that (information) from. It's better that it (the state) replies.
“If a state valuation was done, then I hope they can come up with a reason for (the possible overvaluation of) Danau Putra and Bestari Jaya land.”
Pua had previously conceded that some of the land parcels surrendered by Talam to clear its debts to the state government were overvalued, but he stressed that the deal should be looked at overall.
According to Pua, the state government had received a RM9.1 million discount in the deal as other land parcels acquired from Talam were undervalued despite some others being overvalued.
Chua also took Talam - now known as Trinity Corporation - to task for providing misleading information in a press statement on July 12 that all valuation of assets surrendered to the state government were approved by Bursa Malaysia and the Securities Commission (SC)
He pointed out that the company later made an announcement to Bursa Malaysia, conceding that it had made a factual mistake and the valuations were not approved by the two entities.
Talam said in this announcement, that it was only required to ensure that its valuation reports and draft circular complied with the SC's asset valuation guidelines and were not subject to the approval of the SC and Bursa Malaysia.
He also questioned whether the state government had used its own valuers or had relied solely on Talam's own valuers.
'I want S'gor gov't to talk'
When it was pointed out that Pua had already explained that this valuation was done by the Valuation and Property Services Department, which comes under the Finance Ministry, Chua insisted that the Selangor government itself should respond on the matter.
"Why don't you ask the state to reply instead of Malaysiakini replying? I'm not very sure where you got that (information) from. It's better that it (the state) replies.
“If a state valuation was done, then I hope they can come up with a reason for (the possible overvaluation of) Danau Putra and Bestari Jaya land.”Pua had previously conceded that some of the land parcels surrendered by Talam to clear its debts to the state government were overvalued, but he stressed that the deal should be looked at overall.
According to Pua, the state government had received a RM9.1 million discount in the deal as other land parcels acquired from Talam were undervalued despite some others being overvalued.
Chua also took Talam - now known as Trinity Corporation - to task for providing misleading information in a press statement on July 12 that all valuation of assets surrendered to the state government were approved by Bursa Malaysia and the Securities Commission (SC)
He pointed out that the company later made an announcement to Bursa Malaysia, conceding that it had made a factual mistake and the valuations were not approved by the two entities.
Talam said in this announcement, that it was only required to ensure that its valuation reports and draft circular complied with the SC's asset valuation guidelines and were not subject to the approval of the SC and Bursa Malaysia.
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