WAS IT REALLY AN AUDIT??? SELANGOR GOVERNMENT EXPOSED AS UNTRUTHFUL??

The credibility of Selangor government is really on the brink of collapse!

Full scope audit, review or merely an advisory?

Selangor government must reveal the auditor report immediately together with the white paper.  It is a serious offence by Selangor government if they deliberately mislead people to believe a full scope audit had been performed to ensure no overvaluation and bail out in questionable Talamgate.

The People want to warn Selangor government to be truthful and accountable for their actions.  Be careful, Selangor government, you will be punished if you are eventually exposed as untruthful in covering up the misuse of public funds with distorted information!    

The Selangor state government or independent auditor KPMG have been urged to explain if the recent audit review into the Talamgate controversy is actually an audit, review or merely an advisory.

MCA Young Professionals Bureau chief Datuk Chua Tee Yong said that in any accounting firm, there were departments carrying out audit, tax, special services and advisory tasks.

“So, we are not clear on what was actually done as Chan Siew Mei is the executive director of KPMG’s advisory unit. There is a big difference between audit, review and advisory,” he said at a press conference here yesterday.

Chua said carrying out advisory tasks was more like doing a consultant’s work and the scope of a review was limited.

“As such, this does not look like the audit promised by the state government,” he said, adding that their scope of work indicated that there were probably limitations based on the documents given to them.

Chua alleged that the state government would only show documents that supported them and not those that might allow KPMG to come up with other conclusions.

“The state government is only using KPMG’s report as a shield. We want to know the scope of work. Did they (KPMG) only sit in the office or did they conduct site visits and interviews?

“Let’s not twist statements as I was an auditor before while PJ Utara MP Tony Pua has never been an auditor,” he said.

Asked if an audit could be carried out within a month, he said: “Let us not speculate,” adding that it could be done if the auditors had full access.

Chua said Chan’s statement had raised questions when she only said “yes” when asked if she had found instances where the value of land assets involved were lower than the debt it was to offset.

Chua also asked if a valuation from the Valuation and Property Services Department (JPPH) was carried out for each of the assets as it was a norm for state governments and even the federal government to get one from JPPH.

“If there is a JPPH report, why (Selangor Government) have they not shown it?” he said, reiterating his call to debate with Mentri Besar Tan Sri Abdul Khalid Ibrahim at Dewan Kampo, International Youth Centre in Bandar Tun Razak at 8pm on Sept 12.

In July, Chua questioned how the exercise to recover the RM392mil debt owed by Talam to state-linked entities ended up in questionable deals worth more than RM1bil.

The RM1bil deal includes Talam assets acquired by the Selangor Government at RM676mil to offset the debt and a RM392mil grant obtained by Mentri Besar Incorporated to facilitate the debt recovery exercise.

Chua had exposed questionable deals involving Bestari Jaya land (overvalued by RM100mil), Danau Putra land (overvalued by RM57mil), Menara Pandan Office lots (overvalued by RM1.9mil), Ulu Yam land covered in steep hillslope (overvalued by RM5.3mil), 60% shares in Ulu Yam Golf and Country Club (overvalued by RM1.2mil) and six parcels of land in Bukit Beruntung 2 (overvalued by RM232mil).

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13 thoughts on “WAS IT REALLY AN AUDIT??? SELANGOR GOVERNMENT EXPOSED AS UNTRUTHFUL??

  1. Khalid said to appoint 5 audit firms but how come only 1 audit firm has report? Furthermore, this KPMG team is not from audit department?

    • Well said,
      What happen to the other PRs AUDITORS as claimed by the MB that he HAD engaged for the TALAM DEAL?

      THE POOR SPOKEWOMAN FROM KPMG IS BEING USED LIKE RAINBOW.

      THESE OPPOSITION REALLY HAS NO MORAL BACKBONE, USING OTHERS FOR THEIR OWN GREED.

      • PR always use the distorted information to mislead the people. Many people out there thought that auditor has cleared the name of Selangor PR government without realising that no proper audit has been conducted to investigate the overvaluation and covered facts.

        The advisory team only reviewed the documents received.

      • The Spokewoman was not confident with what she said. When asked if there is overvaluation, her answer is YES.

      • Ini bukan satu perkara baru…laporan odit yang dah ditandatangani oleh mb and juruodit pun dikatakan sebagai bukan disiapkan dengan alasan ianya belum dibentangkan dan diluluskan di mesyuarat tahunan agong pemegang saham unisel….siapa pemegang saham..bukankah itu mbi yang dipengerusikan oleh mb juga!

    • Kalau odit telah dijalankan dengan baik…dah pasti ini kpmg patut buat kenyataan bahwa tindakan kerajaan selangor mengambilalih hutang Talam kepada unisel berjumlah rm280 juta pada harga rm10 saja adalah silap sebab ini faktor utama kerugian unisel..

      • Please tell us more about the loss of Unisel. How did Selangor goverment take over the debt of RM280 million from Talam?

        KPMG advisory must tell us is this bail out or not. Stupid KPMG advisory.

  2. Isn’t the purchase of Talam’s assets not a bailout? Isn’t the take over the bank borrowing liabilities not bailout?

    The auditor has been manipulated to give false report.

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