MCA today accused the Selangor government of "overpaying" RM57.3 million to Talam Corporation Bhd for 53.74 hectares of land in Danau Putra, Selangor.

At a press conference today, MCA central committee member Chua Tee Yong also claimed that the land was over-valued, because it was 80 percent submerged under water.

NONE This is the third time that Chua (right) called a press conference to accuse Selangor of impropriety in its debt restructuring exercise for RM392 million owed by Talam to several state agencies.

Previously, the state government and Petaling Jaya MP Tony Pua had argued that Talam had disposed of its assets to Menteri Besar Incorporated to repay the debt.

But at the press conference, Chua, a trained accountant, insisted that the Selangor government had "purchased" the land fpr RM87.7 million or RM15 per sq feet for the parcel that was divided into four plots.

He argued that this was an over-valuation because an auction on one of the four plots - measuring 26.54ha - was closed at RM15 million or RM5.20 per sq foot.

He questioned if this differential meant that the Selangor government had "overpaid" by RM57.3 million overall.

"These are answers which I am seeking for in the white paper that has been promised but is not forthcoming," Chua told the press conference.

He explained that the auctioned plot of land was "purchased" at RM43.3 million and that the entire plot was submerged under water.

He said Selangor became the legal landowner on March 12, 2010. However, due to some legal complications, the land was auctioned off on Sept 7 that year.

However, Chua did not state the nature of the legal action that led to the property being auctioned.

Questions that need answers

The Labis MP also posed several questions, one being why the Selangor government purchased the land despite 80 percent of it being under water.

NONE "How come the land was auctioned off? And why was the aforesaid plot priced at 2.86 times the auction amount and, assuming the price was RM5.20psf, why did the Selangor government overpay by RM57 million?"

Chua also questioned why DAP national publicity secretary Tony Pua ( left ) has not responded to his  claim that Selangor purchased the Bestari Jaya land at above the market price by RM42 million.

"I also questioned why the DAP exco member in the Selangor government had not responded to this allegation and why the rebuttal was made by Pua," he said.

Asked whether he has read the Talam report highlighted by the media last week, the MCA leader replied he had not read the report fully.

To questions as to why the Selangor MCA was not taking the lead in exposing the issues about Talam Corporation, Chua retorted that he could also ask also why the DAP exco had not responded.

Tee Yong, do homework before you shoot