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PKR threatens to reveal MCA’s links to Talam

 | July 13, 2012

PKR strategic director Rafizi Ramli says he has documents to prove that MCA leaders were involved in Talam's transactions in the previous state administration.


PETALING JAYA:  PKR strategic director Rafizi Ramli has threatened to reveal the names of MCA leaders that allegedly caused Talam Corporation to be debt-ridden.

Speaking at a press conference at the party headquarters here today, Rafizi said Talam’s problem was caused by the previous Barisan Nasional state government and the current administration was trying its best to resolve the matter.

“I urge MCA to stop this slander or else I will reveal the names of its leaders who were involved in Talam’s transactions. I have all the files with me,” said Rafizi.

Since last week, MCA’s Young Professionals Bureau chairman Chua Tee Yong (photo) had embarked on a series of exposé alleging that the state government had possibly used RM1 billion in public funds to bail out Talam.

He also claimed that the state had purchased RM676 million worth of Talam assets and supplied additional funds to the tune of RM392 million.

The latter funds were approved by the state legislative assembly in 2009, said Chua.

Rafizi said when Pakatan Rakyat took over the state government in 2008, it found that 4,259 acres of state land were transferred to Talam under the previous state government at no cost.

He also said that Talam had failed to develop the land over the years and dodged from paying over RM11 million in quit rent.

“Talam was allowed by the previous administration to mortgage parts of the land to banks. By law, you cannot use the land as collateral or mortgage it unless quit rent is paid off,” said Rafizi.

When Pakatan took over the state, Rafizi said Talam was sitting on a debt of RM286 million.

To resolve the matter, Rafizi said the state government decided to acquire the land and assets owned by Talam, including those mortgaged to banks, which came to about RM684 million.

“And RM292 million of it was used to settle all outstanding debt with banks and other lenders. The state government managed to collect RM392 million from the exercise,” said Rafizi.

Also read:

Khalid: MBI recovered RM302m from Talam

Talam fiaso: State entity put at risk


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