NEWS WITHOUT BORDERS
theSun ON FRIDAY | JUNE 22, 2018
Cabinet supportsTRXto recoupallmisappropriated funds:GuanEng X FROM FRONT PAGE
Kuala Lumpur. In addition, the government would also lose the RM3.7 billion transferred earlier to TRXC. With the additional funding, it brings the government’s total funding in the TRX project to RM6.5 billion. Upon completion, the full value of the project of at least RM7.6 billionwill be realised. “This decisionwill help allay concerns among the local and foreign investors, who have put in billions of ringgit, on the fate of TRXC,” said Lim. To date, TRXC has sold parcels of land to local and foreign investors such asMulia Property Development, HSBC, Affin Bank, Lembaga Tabung Haji, WCT and IJM, whose building would be tenanted by Prudential. The Exchange 106 Tower and the Prudential building are expected to be ready by early next year. The Exchange 106 Tower is 90% completedwhile infrastructure for the entire project is about
KLCC vs THE EXCHANGE 106
actually happened,” he said, when asked to elaborate on how the funds were misappropriated. Lim said the Cabinet decided to support the project to recoup all misappropriated funds, repay all borrowings, recover all funding investments and opportunity costs as well as potentially achieve a small surplus return. TRXC is required to complete all the necessary infrastructure works in TRX costing up to RM2.8 billion. At the same time, theministrywill embark on value engineering to further reduce the cost. The RM2.8 billionwill be disbursed in stages up till 2024 and theministry is looking at RM344million this year. Lim said if the project is not completed, there would be RM3.51 billion of compensation claims and an “eyesore” of an abandonedmega project in the heart of
The Exchange 106
• No. of floors 106 • Total floor area 395,000m 453,835m • Time to build Three years Two years (estimated) • Developer KLCC Mulia Group Holdings 2 2 88
In a Facebook post, Najib said the takeover of TRXC for a nominal sumof RM1 last year was a key step in the broader 1MDB rationalisation plan.
80% completed. Meanwhile, Najib said the project does not have to be bailed out, adding that Lim himself had said it would show a profit.
DrMrubbishesNajib’s claims of ignorance
MAS: Ex-PM’s baggagewithin allowable limit PETALING JAYA: All baggage for passengers who check in as a group may be combined and tagged under one name and this will appear on the airline system as excess baggage, Malaysia Airlines said. The airline said in the case of former primeminister Datuk Seri Najib Abdul Razak, whomade a round trip to Langkawi fromKuala Lumpur with 22 familymembers earlier this week, the total baggage checked inwas well within the allowable limit. Malaysia Airlines allows a person to check in 30kg of baggage free of charge on an economy class flight and the allowable limit is higher if it is business class. “Malaysia Airlines observes a strict policy on excess baggage and the airline can confirm that no waivers were given (toNajib),” the airline said in a statement yesterday to clarify a post circulating on social media alleging that Najib and his entourage did not pay excess baggage fees. The airline said it takes seriously the pictures posted showing the baggage Najib’s family hadwith them, and is investigating the matter. TABUNG HARAPAN MALAYSIA Maybank account number 566010626452
PETALING JAYA: PrimeMinister TunDr MahathirMohamad has rubbished embattled former premier Datuk Seri Najib Abdul Razak’s claims that he was in the dark over the alleged embezzlement of funds from 1Malaysia Development Berhad (1MDB). He said the former leader has to domore to convince the people of his innocence in the 1MDB scandal. “Whowants to believe him that he didn’t knowwhen he signed (his name)? Every bit of money that goes in and out of the first borrowing of RM42 billion, all his signature,” Mahathir was quoted as saying in an exclusive interviewwith MalayMail . Najib’s recent attempts to absolve himself of any blame over the 1MDB scandal have courted criticism fromvarious quarters, including leaders of BarisanNasional (BN) component parties. MCA spokesmanDatuk Ti Lian Ker said the delay in addressing the issues surrounding 1MDB is further eroding the public’s confidence in BN. “It is obvious that a bare denial is > ‘Whowants tobelieve ex-PMwas in thedark over 1MDB scandal?’ IPOH: Wanita Gerakan wants the Pakatan Harapan (PH) government to name the full Cabinet soonest instead of focusing on exposing wrongdoings of the former BN administration. Its head, Datuk Tan Lian Hoe, said this does not mean abuse of power is to be condoned, but stressed that the government must operate with a full Cabinet. “Along the way they can take action but we need a full Cabinet to operate the government administration,” she told reporters after attending the Pusat Activity Warga Emas UTC Aidilfitri and Parents Day celebration here yesterday. THUMBS-UPBYMTUC SHAH ALAM: The Malaysian Trades Union Congress (MTUC) has welcomed the instruction by Human Resources Minister M. Kulasegaran to the ministry’s enforcement teams to conduct inspections regularly to ensure that employers comply with labour laws. Its deputy secretary-general, A. Balasubramaniam, said that if regular inspections were carried out, all untoward incidents could be prevented. “Besides, concerns such as exploitation of workers, violation of labour laws and payment of wages lower than what an employee is entitled to can be addressed,” he said. B R I E F S ‘FULLCABINETPLEASE’
I was UNAWARE of alleged jewellery are WEDDINGGIFTS NOT my fault:Najib embezzlement of 1MDB funds L ANGKAWI: Former prime minister Datuk Seri Najib Abdul Razak says he shouldn’t be blamed for the multi- billion-dollar 1MDB scandal, and declaresheknowsnothingaboutmoney from the state fund appearing in his personal account. Hedoes, though,haveexplanations for the vast sums of cash, luxury handbags and jewelleryrecentlyseizedfromhishomesbythe authorities. Speaking to Reuters in his first sit-down yacht, the paintings ... I’ve never seen those paintingswhatsoever,”saidNajib. “I was not aware of these purchases. This wasdonewithoutmyknowledge.Iwouldnever authorise 1MDB funds to be used for any of these items.I’vebeen ingovernmentso long,I know what’s right and what’s wrong,” Najib said in the Handbags, RM200m
Flashback... our front page story yesterday.
insufficient to satisfy the rakyat’s appetite for truth. The issues surrounding 1MDB should have been confronted earlier and the individuals responsible taken to task. “The delay has caused BN tremendous damage resulting in a trust deficit. However, we should also respect due process and avoid conducting a trial bymedia,” he said. Ti also said although the people seem to have drawn the conclusion that Najib is responsible for themess, it is important to see towhat extent is his moral or legal culpability. Women’s Legal Bureau director Azlinda Baroni saidNajib is clearly trying to evade responsibility for the wrongdoings.
“Najib seems to try to shift the blame to others for all the wrongdoings. If that is the case, we like to challenge him to lodge police reports against all of them– the former 1MDB CEO, the board, Jho Low, Reza Aziz andNik Faisal to name a few,” she said. DAP adviser LimKit Siang saidNajib has not only failed to clear his name but also impaled himself on the 1MDB scandal. He claimed his advisers and the management and board of 1MDB hadwrongly kept the alleged embezzlement of funds a secret fromhim. “If so, he is themost incompetent head of government in the world!”
RM (Raised so far)
Liow (left) receiving the donation fromYap in the presence of Hassan (second from left).
Harapan fundcrossesRM90milmark PETALING JAYA: Tabung Harapan
to it yesterday, bringing the total to RM90,312,565.97. The latest donation of RM500,000 came fromChristine Resort. Amock cheque for the amount was presented by Christine Hotel Seri Alam
director Christina Yap to JohorWomen’s Development and TourismCommittee chairman LiowCai Tung at Pakatan Harapan’s office in Johor Jaya, Johor, in the presence of Pasir GudangMPHassan Abdul Karim.
Malaysia continues its steady growthwith the fund crossing the RM90millionmark at the last count yesterday. The fund increased by RM760,000 on Wednesday and RM1.2 millionwas added
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