Chow brushes off business chamber’s incompetence jibe

 

Penang chief minister Chow Kon Yeow said Umech Construction Sdn Bhd and Umech Land Sdn Bhd were essentially the same, with the same shareholders, at the time when the land was sold. (Bernama pic)

GEORGE TOWN: Penang chief minister Chow Kon Yeow has brushed off accusations of incompetence from the Penang Chinese Chamber of Commerce (PCCC), which had said there were many unanswered questions in the controversial Batu Kawan land deal.

“It is not true that I didn’t reply,” Chow said.

“The Penang Development Corporation (PDC) replied to the PCCC from day one. It might not be in my name but it’s the same, I am the PDC chairman after all,” he said.

Earlier today, PCCC life honorary president Tan Kok Ping said Chow was “incompetent, ignorant and shameless” for evading questions on the deal.

The 226ha land deal was called off by PDC yesterday, citing a non-disclosure in the change of a controlling stakeholder in Umech Land to a developer.

Meanwhile, Chow said Umech Construction Sdn Bhd and Umech Land Sdn Bhd were essentially the same, with the same shareholders, at the time when the land was sold.

He said it was common for companies to set up special-purpose vehicles (SPVs). However, he didn’t say whether Umech Land was an SPV of Umech Construction.

PDC first sold the Batu Kawan plot to Umech Construction, but later Umech Land – by then part of Sunway Bhd – entered into an agreement with PDC to develop the land.

“I can’t answer further questions as there are legalities in terminating the deal. We have given Umech three months to respond to the termination,” he said.

Separately, on a call to reshuffle PDC, Chow said those involved would be subject to KPI reviews, and the result of the land deal would be taken into account. He declined to comment further. - FMT