The following is an official press statement made a few month ago in January by the learned Chief Minister of Penang. There are FOUR major issues here which the untrained eye may not see and is actually quite insulting to the intelligence of Penang people. How many can you spot? Answers after his statement. ---begin-- Press Statement By Penang Chief Minister Lim Guan Eng In Komtar, George Town On 12.1.2014. I wish to correct a mistake in my statement yesterday on IKEA’s entry into Penang. Yesterday’s statement reported that PDC had sold 245 acres of land by Penang Development Corporation(PDC) for RM 284 million to Aspen Vision Land Sdn Bhd and Ikano Pte Ltd, that is to be fully paid in 5 years. This is wrong. The correct amount should be RM 483,951,600(rounded up to RM 484 million). This important detail was overlooked as we have been working hard over the last one week to close two historic events, namely IKEA’s entry into Penang and winning the rights to host for the first time ever the World Women Squash Championship in March 2014. The error is regretted. --- end --- Okay answers here: Issue 1) As a Chief Minister and an accountant and with so many staff, HOW ON EARTH can you make a RM200 million mistake? RM284million and RM484million is a huge 45% margin of error! Issue 2) Why yet another deal of interest-free 5 year installment to a developer? Why is a state government funding a developer with their capital requirements? Cant the developer get their own financing if the project is viable? Do you know that in 5 years, the land price could easily have doubled and the developer still may not have fully paid for it? Do you think Selangor State govt is like Courts Mammoth? Even Courts mammoth charges interest rates in their installment plans. Issue 3) Which IKEA uses 245 acres of land? That must be the biggest furniture store by far in the entire world! Do you know how big 245 acres is? Is LGE using the the smoke-screen and brand-name of IKEA to justify yet another sweet-heart deal of cheap land (besides 2nd Penang bridge sold at RM45psf) WITH interest-free installments for yet another real-estate devpt? Issue 4) His official excuse is an insult to Penang people. his important detail was overlooked as we have been working hard on two historic events, namely IKEA’s entry and Womens squash. If you were working hard on IKEAs entry, you wouldnt have made this big RM200million mistake, would you? And why womens squash? Dear CM, are you training hard to compete in that event? Which round did you reach before you got knocked out? Are these even valid excuse for such a big error? Why such lame excuses and why insult the intelligence of Penang people? Dont they matter or are they just your pawns that you can continue to hood-wink and use? -- limguaneng/index.php/2014/01/12/to-correct-a-mistake-in-my-statement-yesterday-enbmcn/
Posted on: Sun, 08 Jun 2014 02:36:50 +0000