Thursday, April 04, 2019

Guan Eng failed to show firm offer, Terowong style RFP?

Update on the two previous postings - HERE and HERE on the proposed sales of the Malaysia Building in Hong Kong.

Lim Guan Eng responded to Wee Ka Siong allegation he had mistaken Hong Kong dollar for Malaysian Ringgit to show a letters that could prove there was such an offer. When provoked, the egoistc and hot tempered Guan Eng reacted expectedly.

The Star video below of the press statements of Guan Eng and Ka Siong's immediate reply.

For more detailed PC, refer to Malaysiakini You Tube of Guan Eng's HERE and Wee Ka Siong's reply intentionally uncovered M'kini on his Facebook HERE.

The letter stated RM1.68 billion and was dated January 2019. Strange that Guan Eng did not go to town to gloat as RM1.7 billion.

It is only a letter of interest without a proper valuation report, etc. Basically, it is just broker's letter of interest without any proof of fund. Dicey ....

A young and well connected businesssman still insist the broker mistaken between RM and HK. Guan Eng failed to check on proof of fund and simply quote. Failed Finance Minister, Mahathir should drop him!

The following opinion in a WA group of young, multiracial and professionals.
1. Najib's BN direct nego

There was multiple valuation on the said land. Looking at the highest valuation, that 1.1B was the price at that time including premium. Comparison between different timeframe should also be factored in. Hence, RM1.1B easily justified.

Direct nego are acceptable depending on the recommended strategy and existence of opportunity (better option) of the govt at that particular time. Open tender can be costly and time consuming.

Example: If there was an opportunity to purchase or build new consulate in HK, the window timeframe may suggest to accept the said 1.1B offer and purchase/build elsewhere.

2. LGE mentioned offer of RM1.6b

Offer anyone can write. Close the deal first than boast. To determine how good any offer is, valuation must be shown for comparison.

Can LGE show valuation or baru nak buat? Or LGE have been talking about the land/building which he himself does not know the value.

3. LGE condemned BN for not practicing open tender.

As far as Rakyat understand, terowong Penang also went through so called Open tender process. Even that itself, as confirm by Hanifa Maidin 2 days ago as SAHIH, is under MACC investigation linked to few(5) DAP members.

What happen to that investigation, mengapa tiada sebarang kenyataan dari SPRM? Does open tender process simply means that it is full proof of corruption? Look at terowong sudah cukup tahu maksud LGE open tender.

Open tender can be costly and time consuming. Sebab itulah kerajaan PH lembab dan tidak mampu menjana ekonomi.

4. LGE further claim that his govt practiced OPEN TENDER so far as transparency goes.

How do you explain that today Equanimity is on direct nego? Why not 2nd tender?

How do you explain IHH shares, Royal Chulan Hotel, Telco M1, BDO Unibank Inc and banyak lagi yg PH telah jual? Was it OPEN TENDER?

How do you explain Tabung Haji selling its asset to Govt SPV, tender process?

Will MAS too be tender process? Or Malaysia as a country itself will be on international tender? Looks like it, PH jual semua harta milik kerajaan, bukan tambah.

5. Conclusion

PH apply tender transparency claim selectively. LGE so called open tender strategy itself is currently under investigation for corruption- Tunnel. 
BN attempt RM1.1b can be justified.

LGE must show realistic offer and current valuation. LGE must make sure all penjualan asset kerajaan atau GLC/GLIC mestilah melalui tender terbuka mulai hari ini.

HK Asset open tender not necessarily most suitable option as it benefits international players. Offer should be made to Malaysian first. 😆.
There are CLEAR & STRICT guidelines by MOF on open tender, direct award & direct nego. It is not as straightforward as Guan Eng displayed. His interest was only politics, misguiding the public, and suspiciously, could be repeating another terowong.

As told to a friend, till he shows the letter, never believe what Guan Eng claim as having the proof. Out of 10 matters said by Guan Eng, you cannot believe 11. 

1 comment:

Anonymous said...

The letter from foreign base broker mention YB Tuan! Wow they know the protocol very well.

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