Saturday, May 16, 2009

PKFZ : First OSA, now indemnity letter...then what else?

  1. 1 Malaysia, People first, performance is not synonymous with Port Klang Free Zone (PKFZ). At least, not for now...
  2. A few weeks ago, the current transport minister @ MCA President @ Ong Tee Keat directed Port Klang Authority (PKA) Chairman i.e. Lee Hwa Beng to disclose the findings of the independent auditor's report to the public. Everybody is waiting...and now Lee Hwa Beng, fresh from his hospital bed informed that PKA is seeking legal advise before releasing the report.
  3. You may ask why the delay? It seems that the independent auditor PwC is putting a condition priot to release of its report. PwC wants to be indemnified from 3rd party sue (in court).
  4. Last week, PKA reasoned that they need to get OSA's clearance from the MInistry. Now, they are discussing on the request for letter of Indemnity. What is the problem??
  5. To Joe Public, it is difficult to understand PwC's reasonings...As far as the public is concerned, the report has been completed and PwC has submitted their report to PKA. It is now PKA's documents. And since PKA is the paymaster, PKA has every rights to publish whatever report they deem fit.
  6. You see, for an average Joe, it is PwC who needs to give the letter of Indemnity to cover PKA and not vice versa. The reasoning is simple. PwC is the one who does the auditing, audit trail and report, so it is fair for PwC to issue their letter of Indemnity to cover PKA. Afterall, PKA is the paymaster who wish to get an independent audit report.
  7. Further, why should PwC be afraid and seems to be unmilling to stand by their audit report. PwC has done the audit report which I presume will cover audit trail. And based on the information made available to them, PwC prepare the audit report.
  8. If it so happens that an interested 3rd party wish to clarify/defend themselves, by all means do...PwC 's report is based on facts available to them. An interested 3rd party may have their own supporting documents. If there are, those 3rd parties can wait until the report is out before providing the clarification.
  9. What is interesting is the balloning cost.At last count, the price has ballooned from RM 1.8 B to RM 4.6 B of the rakyat's money. It should be fair for the rakyat to know what, who, where of PKFZ. Joe public has been conned one too many and Joe Public wants to know...
  10. Lee Hwa Beng indicated 2 more weeks. Can the rakyat wait? 2 weeks from now is 29th May 2009. That will be at the height of campaigns for Penanti. Is this an advanced diversory from the government ? If it is, the joke may be on BN, this time...(I mean Penanti state seat)
  11. Rakyat has been served with too many ups and downs, the next show will be on 21st May 2009 (appellate court sitting on MB Nizar vs MB Zambry). Will the auditor's report see the light? Yes, but will it be diluted? It depends who is willing to be the fall guy. Tun AAB's fall guys are Kasitah Gadam and Eric Chia..so whi is volunteering as the fall guy for PKFZ.
Till then...G'nite M'sia...wherever u are...


2 comments:

Wenger J Khairy said...

Good post, exposes MCA hypocricy in blaming UMNO when they are bigger culprits. Just cull the lot.

nightcaller said...

WJ,

Thks. They should use the current perak debacle as smokescreen to make their escape. They are not doing that. Are they waiting to take centrestage? And drag longtime partners UMNO along?