Malaysia People welcome the move of MACC to deepen its probe into Talam scandal which involves millions of dollar in the overvaluation and waiver of debts.
The recent statement by Kumpulan Hartanah Selangor Bhd (KHSB) to Bursa Malaysia which revealed that the amount owed to KHSB by Talam Group had been reduced from RM236mil to RM115mil, but was not mentioned in the White Paper and the KPMG audit report engaged by the Selangor government.
The “disappearing” of debt is as mysterious as the overvaluation for the lands submerged in the water and the irrationalness to assume the millions of bank borrowings from Talam by Selangor government.
No one is sure on how much money has been misused in this scandal at this point of time. But one thing for sure is there could be more surprising “sweetheart” deals to surface and KHSB’s audit finding is only the tip of the iceberg.
PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) is deepening its investigations into the Talamgate controversy after recording the statement of MCA Young Professionals Bureau chairman Datuk Chua Tee Yong.
An MACC spokesperson confirmed that Chua’s statement was recorded during the session, where the Deputy Agriculture and Agro-based Industries Minister also submitted his findings of discrepancies in the Talamgate controversy to the MACC.
“I have submitted to the MACC my findings about the debt recovery exercise, most of which have been presented in the media.
“I have also provided MACC with other documents which have not been disclosed until now.
“However, I cannot divulge the contents as these are now in the hands of the MACC,” Chua said after the three-hour interview at the MACC headquarters here yesterday.
Chua said that had the White Paper on the issue been able to provide comprehensive details of the debt settlement, he would not have been called to the MACC to provide more information on the matter.
He added that even Bursa Malaysia was looking into the Talam issue, citing a report from Bursa Malaysia which stated that Talam’s debt and penalty interest amounting to RM236mil owed to Kumpulan Hartanah Selangor Bhd (KHSB) had been reduced to RM115mil.
In the Nov 28 announcement, KHSB auditor AKN said further investigations were needed to find out if proper procedures had been followed, including compliance with the Main Market Listing Require-ments.
On Dec 2, Chua had called on the Selangor government to rewrite its White Paper on the debt recovery exercise involving Talam Corp.
This followed a recent statement by Kumpulan Hartanah Selangor Bhd (KHSB) to Bursa Malaysia which Chua said had shown discrepancies in the exercise involved.
He said the report revealed that the amount owed to KHSB by Talam Group had been reduced from RM236mil to RM115mil, but was not reflected in the White Paper and the KPMG audit report engaged by the Selangor government.
Chua had denounced the White Paper tabled at the Selangor state assembly as a “Grey Paper”, maintaining that there were still questions left unanswered by the state government.
In July, Chua had questioned how an 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 the Mentri Besar Incorporated to facilitate the debt recovery exercise.