PERFECT BAIL OUT PLAN?? (1)

After 1 week of being challenged by its rivalry on the valuation and rationale for Talam’s “bail out”, Selangor government is still unable to explain to its Selangor People why Selangor government wanted to take over the lands which are fully/partially submerged in the water above the market value.

From the defamation suit to appointment of audit firm, Selangor government had clearly shown to Selangor People that the government is resorting to all types of method to avoid justifying the questionable valuation and rationale in Talam’s “bail out” saga.

Selangor MB Khalid refused to divulge into details but just told the People that the government had managed to recover the debt of RM392 million from Talam.  If this is so easy and straightforward, why Selangor government failed to release the White Paper as promised 2 years ago?

From what Chua Tee Yong revealed last week, the lands being settlement in the deal are far below the market value.  Bestari Land is overpriced by RM42 million as admitted by DAP Tony Pua.  Danau Putra Land is RM28 million more than the auction price in the open market.  Selangor People have questioned repeatedly why the government is so generous to Talam but this has fallen on the deaf ears of Selangor government who refuse to comment.

To make the deal worse, Selangor goverment have assumed the liability of Talam from the banks.  In other words, Selangor government have to bear the bank borrowing interests and principal repayment.  Undeniably, the deal is perfectly covered under the “fair” valuation given by Talam and Selangor government until it is exposed last week by Chua Tee Yong.  Stripping off the cover of the deal, the actual scenario will be illustrated in the diagram below:

Selangor People strongly urge Selangor government not to give any excuse from justifying the valuation and rationale.  Since Selangor government said it is just a simple debt recovery plan, why Selangor government has failed to clarify the valuation and rationale after many weeks.  Please tell us how much bank borrowings are assumed by Selangor government and how much interests suffered by Selangor.

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28 thoughts on “PERFECT BAIL OUT PLAN?? (1)

    • Yes, Selangor government become the borrower of the banks now. If Talam was PN17 company because these lands and debts, now Selangor become “PN17” government based on these lands and debts from Talam.

    • Is this the quality of argument that Pakatan could offer? Oh my…no wonders people are getting tired of Pakatan fallacy by the day.

      • PR is good in talking, covering and deceiving. Syok diri.. ingat all people are fools.

    • Are you anjing of BN? Go ask the accountant-cannot-count to debate with Tony. We are waiting you to accept the challenge. Got ball to accept or not?

  1. Pingback: Perfect Bail Out Plan?? | Stop The Lies

  2. I thought PR is better than BN. No corruption or tipu the rakyat. No cronyism. Nepotism don’t mention la. Bikin malu saja. This is only 4 years in power, already like this. Haiyya, we want to find another good party that really work for the rakyat’s benefit to replace the corrupt BN. If they are worst, we will support BEBAS instead.

    • I agree with you. All the valuation given by Talam and PR are crap. Can’t believe them already. Next GE, either BN or Bebas but definitely not PR.

    • At least you have a stand and this is most respected. Unlike the Pakatan supporters, support blindly. Even when their leaders are found lying, bullshitting, corrupted or being racist and hypocrite to the core, they simply support. A scum like Anwar, prooven to be a sodomizer and china-dolled, also they support without question.

      What kind of principles are these Pakatan beholding? At least BN are admitting theur past mistakes and trying hard to change and be better. I will give them another chance. For Pakatan, grow up and live up without that scum Anwar, before you ask for any chance!

      • Go and read Tony Pua’s interview, fool. You have no knowledge about debt recovery. PR is cleaning up the shit from BN time government. Do you know this?

      • Great accountant, stop blaming former government and be answerable to what PR had done. Did the valuation agreed by PR or BN? Anwer it.

    • Ooo oook ok i i i will er err err tell you Rakyat Selangor the err err err truth yang betul in err err err next year err err or in 2 years time after i err err got the odit

    • Dap should stop the degrading tactics. If Dap has a lot qualified accountants, please help state gov to complete the white paper.

      • White Paper aaar? Ada ada….kat ofis i ada itu white A4 size paper, mau berapa rim aar? Haiya, gua ingat jadi mb manyak senang, rupa nya manyak senang tipu sana tipu sini ooo, lakyat talak tau ooo

      • Selangor PR masih tak nak jawab. Hey, apa government ni? Cari alasan baru kah utk buang masa?

  3. Based on BLR 6.6%, if Selangor PR took over 300 mil, one year interest costs will be approximately 20 mil to bank.

    • I think PR would want the interest to be higher, so that they can siphone more $$$ and blame the previous government!

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