Depa Pasang 14 Biji Kamera Dengan Modal RM45 JUTA. Kemudian LTAT Bailout 14 Biji Kamera Dengan Harga RM555 JUTA. Kemudian Kerajaan Bailout LTAT Pula RM669 JUTA Untuk 14 Biji Kamera.

 

https://www3.theedgemarkets.com/article/outsourcing-aes-project-implementation-inappropriate-says-pac

LTAT’s RM555 mil takeover of AES a govt bailout, might involve kickbacks

theedgemarkets.com

November 23, 2021 

• P'jya 2014 directive for LTAT to take over AES for RM555m was “bailout” says PAC
• PAC said RM555m price “overvalued” and “exorbitant”
• did not follow due diligence by independent valuer KPMG, valued max RM251m 
• This means LTAT overpaid owners ATES and Beta Tegap at least RM304m 

• 2019 govt paid LTAT RM668.9m compensation,  extra RM113.9m 
• original ATES, Beta Tegap fair market value RM198m-RM251m 
• PAC pointed out service fee paid to concessionaires “detrimental to govt”

Tan Sri Ambrin Buang
MACC must investigate any kickbacks in takeover by LTAT, PAC said 
PAC recommended govt make public 2019 investigation into project 

(OSTB:Sampai kucing bertanduk)

• outsourcing project to ATES, Beta Tegap  should not have happened
• project should have been executed by JPJ
• Ambrin Buang said original cost of entire AES project RM45m 

MoF in Dec 2017 initially agreed compensation RM894.3 million.

• AES project “a conspiracy to cheat Malaysia”, says investigator
• investigator Datuk Dr Mohd Tap Salleh say JPJ should lead project
• this is to conspire to cheat Malaysia, actually, Mohd Tap 
• “..there may be kickback, we requested BNM to conduct money trail id 
• late 2020 MACC said “still under investigation” 

(OSTB:Sampai kucing bertanduk)

• PAC confirmed contract for ATES, Beta Tegap approved by Cabinet
• ATES received RM295m from LTAT, Beta Tegap received RM260m
• only 14 cameras installed at the time

2018 LTAT’s CEO Lodin said price based on expected returns
price based on return from 13-year concession Lodin told The Edge.
director of ATES was Chee Chwee Cheong – associate of Mustapha Ong, aide of Najib
Beta Tegap shareholders Andreas Teoh, Rozana Redzuan related to UMNO Johor

Edited by S Kanagaraju

My Comments :  

PAC says it cost the company RM45 MILLION to put up 14 cameras. 

When the scandal became too hot, in 2014  they got LTAT to buy over the AES company for RM555 MILLION.  LTAT was told to "warehouse" AES. 

Then in 2019 (under Dr Mahathir as Prime Minister) the government bailed out LTAT for RM669 MILLION. 

• PAC said RM555m price “overvalued” and “exorbitant”
• PAC pointed out service fee paid to concessionaires “detrimental to govt”
• MACC must investigate any kickbacks in takeover by LTAT, PAC said 
• outsourcing project to ATES, Beta Tegap  should not have happened
• project should have been executed by JPJ
• AES project “a conspiracy to cheat Malaysia”, says investigator
• investigator Datuk Dr Mohd Tap Salleh say JPJ should lead project
• this is to conspire to cheat Malaysia, actually, Mohd Tap

So seven years ago in 2014 the original promoters of this farce cashed out for RM555 million of public funds (LTAT money). 

Their original investment was RM45 million. So their untung was RM555m - RM45m = RM510 million (approx.)

And finally the taxpayers bailed out LTAT for RM669 Million.

All these fellows get rich by swallowing up either public funds or taxpayers money. These are the SOCIAL WELFARE MILLIONAIRES. 

The PAC suggests there may have been kickbacks. The investigator said this project was to cheat Malaysia. 

Sekarang kita ada soalan cepu mas : So what will the MACC do? This is November 24, 2021.  Soon it will be 2022. Then after that it will be 2023. 

Ada US Dollar tak? 

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.