Prove Malaysia not a banana republic, Pua tells Terengganu MB

Tony Pua says Terengganu MB must withdraw all permits and approvals issued to CAA Resources to preserve the integrity of the government.

KUALA LUMPUR: DAP National Publicity Secretary Tony Pua continued to push for the complete withdrawal of permits and approvals to CAA Resources, its subsidiary Capture Bukit Besi Sdn Bhd and its business associate in Terengganu called Red Sun Resources Sdn Bhd.

Pua cautioned that any failure to do this by the Terengganu state government was akin to admitting the country was a banana republic, “available for sale”.

Pua said this in light of Terengganu Menteri Besar Ahmad Razif Abdul Rahman’s outright denials yesterday that the state had any dealings with CAA Resources “whether directly or through a different company”.

Cautioning Ahmad Razif against accusing CAA’s executive director Li Yang of telling “blatant lies”, Pua suggested the MB “conduct a more detailed due diligence” first simply because there were documents aplenty to prove that CAA Resources’ subsidiary was indeed involved in mining activities at Bukit Besi and had inked a memorandum of understanding with a company in Terengganu on October 3 last year.

Pua explained that according to a disclosure by CAA Resources to the Hong Kong Stock Exchange, the company, through its wholly-owned subsidiary Capture Bukit Besi Sdn Bhd, had inked a binding MoU with Red Sun Resources Sdn Bhd, a company that owns parcels of land at Bukit Besi.

Pua elaborated that according to the agreement, Capture Bukit Besi would conduct exploration and/or prospecting activities at Bukit Besi as well as repair roads and build dams in return for Red Sun Resources working to “procure the Approvals from the relevant authorities”, for which the company would be paid USD10 million.

Pua also said that CAA Resources had already forked our USD15 million for this purpose already.