Dr Wee: Why is a fashion company building the Penang Tunnel?


  • Nation
  • Saturday, 13 Jan 2018

PETALING JAYA: A fashion company is the shareholder of a special purpose vehicle (SPV) for the RM6.3bil Penang undersea tunnel project, said MCA deputy president Datuk Seri Dr Wee Ka Siong (pic).

"In early 2013, there were allegations that the SPV which was awarded the mega project was under-capitalised and lacked experience.

"The DAP-led government, in a move to reassure the public, issued a statement that two giant and experienced China construction companies will be shareholders of the SPV and is backed by RM4.6bil in paid-up capital.

"But today, our checks show that the two China construction companies are nowhere to be seen as shareholders of the SPV," he said in a statement on Saturday (Jan13).

He added that in their place now is a small local fashion company called VOIR Holdings while 39% of the shares of the SPV are held under nominees.

Dr Wee, who is also the Minister in the Prime Minister's Department, questioned if the material change in ownership and experience means that the project award made under the Request for Proposal exercise (not open tender) is now null and void.

"The DAP Penang Government must answer as the Penang people have a right to know why their mega-billions undersea tunnel will now be built with the participation of a small local fashion company instead of two experienced and well-funded construction companies as originally promised," added Dr Wee.

In response, Penang Works, Transportation and Utilities Committee chairman Lim Hock Seng said the state government will leave it to the consortium to answer because it cannot speak for the company.

"I understand that the consortium will issue a statement early next week," he added.

 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Nation

Najib sues former AG Thomas over alleged defamatory statement in his book
Govt to review laws on bankruptcy, says Wan Junaidi
Three-year-old an index case of KL Covid-19 cluster
Health DG: Safe to consume biscuits, acrylamide content below EU benchmark levels
Johor cops nab 13 for illegal moneylending
RM9bil Azerbaijan sale part of efforts to revalue Petronas' assets and businesses, says Tok Pa
National laureate Kemala passes away, aged 80
MyDaftar OKU will help improve existing registration system, says Rina
Single mother fined RM9,000 for neglecting son
Fuel prices Oct 28 – Nov 3: RON97 up 10 sen, RON95, diesel remain unchanged

Others Also Read


Vouchers