YOURSAY 'It has been explained time and time again; in debt restructuring, we look at the settlement in a block and not parcel by parcel.'
Chua Jr asks if S'gor 'overpaid' RM57mil to Talam
Wira: From the Malaysiakini report, I am made to understand that the whole piece of land, valued at RM87.7 million, was subdivided into four lots.
One of the lots, which is 80 percent submerged, was auctioned off at one-third of the total per unit value.
So MCA central committee member Chua Tee Yong simply assumed that all the other three lots would command the same value and conveniently worked out the "loss" figure.
The right person to answer this is the state evaluation office which reports to JPA, a federal agency, as the state government, by law, must rely on that office for land evaluation.
I am sure they will have the right answers for Chua Junior. Hope it will not be another embarrassing moment for him again.
Check The Facts: Market valuation by Chartwell: Base value of RM145 million less RM51.5 million cost of filling up the land = market value of RM93.5 million.
Selangor profited by RM5.8 million.
Lynn: Look at the big picture - when Selangor was under BN, the Talam mess remained unresolved with billions of ringgit owed to the state.
Under the Pakatan government, they worked to resolve it and collected back the money. So I still don't see the basis of this "expose".
It has been explained time and time again; in debt restructuring, we look at the settlement in a block and not parcel by parcel.
This MCA leader may be a "trained" accountant, but he clearly lacks the experience in the real world.
Jaguh: Chua, just give up. Admit it. The Selangor government cleared a long outstanding debt and whether it was slightly more, or less, it's immaterial.
Please comment on the bailouts of GLCs (of which you may have experienced), where the taxpayers' money had been involved, then compare it to what a good job the state government has done.
Anonymous Cat: How can Tee Yong can claim to be a trained accountant? How can one billion ringgit be reduced to RM57 million within days.
Even if you depreciate or amortise the figure, it will take years. If you want to employ an accountant who can do magic, Chua Junior is the one for creative and imaginative accounting.
I just wonder which university he graduated from.
Blind Freddo: I still think there is a nasty smell coming from this overly complicated process. Everyone who commented has a vested interest in either a cover up or an exposure.
The only real answer is to have an independent audit. But nobody but me seems to be interested in the truth.
If DAP publicity chief Tony Pua, and MB Khalid Ibrahim et al had any confidence in their actions and any integrity, they too would be calling for an independent enquiry too.
That way they would either shut Tee Yong up for good - or open a can of worms that would show you what PKR is made of.
Maplesyrup: MCA is only good at barking at Pakatan. After all, what is a RM53 million over payment (if it is true) compared to the countless millions and billions squandered by BN.
Why has MCA kept silent about the Maju Expressway, which has robbed the public of almost RM1 billion in broad daylight?
Come on, MCA, why not pull out the planks from BN's own eyes before you talk day in day out about the splinters you think you see in Pakatan?
Khalid rejects full discussion on Talam debt restructuring
Mosquito: I believe Nathaniel Tan and PJ Utara MP Tony Pua had done a good job in explaining the deal based on the circular to shareholders that was vetted by Securities Commission and Bursa Malaysia.
Besides that, Trinity Corporation (previously Talam) has also explained. But still it is a good move to bring in the international accountancy firms to study and report on the deal. But then again, being difficult people, the detractors may insist the job should be tendered out.
It looks like Labis MP Chua Tee Yong just does not know he is swimming in deep dirt with a small fin. The report should put him out of his misery.
CiliPadi1988: Everyone in Selangor is commenting on the Talam affair except one key person. Where is Rafizi Ramli, former CEO of the Selangor Economic Adviser's office?
Rafizi was appointed in 2009. Surely, he must have a wealth of knowledge in all this. Rafizi is always quick on exposing issues. Yet he is silent in this debacle. Is there something amiss? I would surely think so.
YF: Do these underpaid Umno cyber peons understand the issue or at least know how to read a balance sheet? No wonder they are underpaid, they can't even balance their own books.
Anyone who knows how to read a set of accounts is aware that these underpaid Umno peons are paid way way below what their bosses' children are getting.
Can you splurge like those spoilt Umno kids? I doubt so.
Fair Play: Smart move, Selangor MB Khalid Ibrahim. Professional accountants should be able to explain the difference between fair value and over-priced or over-paid as Chua Jr is trying to establish.
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