Last week, Chua Tee Yong had challenged Khalid to debate on the misuse of public funds for Talam’s bail out. He reprimanded Selangor Government being dishonest to the People with distorted facts, overvaluation and concealment of bank borrowings and interests incurred to rescue Talam.
Another question thrown on the Selangor Government’s bail out for Talam. This time it involves the provision of incentives to Talam for early debt settlement to Unisel totaling RM36 million. Chua Tee Yong said Talam is not entitled to the incentives as they have not paid early to UNISEL. He said the state government should explain the rationale to reduce the debt owed by Talam to Unisel of RM36 million despite the agreement has expired.
“Why even the date of this agreement expired March 8, 2008, the Selangor state government continues to provide incentives to Talam RM36 million and this was also not announced in the State Legislative Assembly”.
Since early July, there have been many issues raised by MCA Chua related to the debt recovery exercise embarked on by the PR Selangor Government. Hope and expectations were high on the recovery when MB Khalid took the time and cost to start it off by what is known infamously as the “round-tripping” exercise and announced proudly that the round-tripping has forced Talam to confirm the debt and made the debt “first class” in terms of collection probability.
But, why is there a need to incentive for early payment or discount (whatever you call it!) if there is no early payment as the debt is still not fully collected yet as confirmed by PR government recently?
Worse, who made the decision to give the discount of RM36m and what the rationale is, if any? Worst still, why has there been no disclosure to State Assembly and the people of Selangor each when credit is claimed for the alleged successful recovery of Talam debt?