As the Penang state assembly sitting drew to a close today, Chief Minister Lim Guan Eng shamed his opponents by rubbishing their lack of knowledge about accounting and giving them a lecture on it.

He explained in detail what debenture meant, saying the BN had confused the term with mortgage when its representatives questioned the state government on why it had sold the Taman Manggis land to two buyers.

NONE Lim said banks usually do not accept debentures because these are unsecured debts.

However, the BN tried to link debentures with mortgages when its leaders claimed that the company that won the bid for the land mortgaged it to AmIslamic Bank Berhad on Nov 10, 2011, for a RM11,494,176 loan.

"They truly have no standard as these are two different things. If they cannot differentiate what is mortgage and debenture loan, they are not fit to be candidates or leaders of the government," Lim said.

"It is like comparing father to uncle. The Penang BN is simply finding excuses not to pay up the remaining RM22 million for the Taman Manggis land," he added

Yesterday, state BN Youth chief Oh Tong Keong accused Lim of "lying and being dishonest"if the case were true.

Oh said despite the land being mortgaged to a bank, Lim had accepted the BN's one percent payment to purchase the 1.1-acre land - purportedly earmarked for affordable housing - on Oct 3.

To this, Lim urged the state BN to fulfil its promise to lodge a police report against him or the state government, since it claimed to have "proof" about the matter.

Lim insisted that the land along Jalan Zainal Abidin was still owned by the state government.