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MCA Wasting time and spend time dancing around their own comedy skit

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SHAH ALAM: Selangor yesterday lashed out at MCA for “wasting time” by continuing to make an issue of their unsubstantiated claims that the state had bailed out Talam Corporation.

“If they (MCA) want to spend time dancing around their own comedy skit, which is irrelevant to some people, then go ahead and don’t waste my time,” said Menteri Besar Tan Sri Khalid Ibrahim after the state executive council meeting on Wednesday.

Khalid said he would make no further comment on the Talam debt recovery exercise undertaken by the state until the move was audited by firms appointed by Selangor to lay to rest the allegation.

MCA’s Young Professional Bureau chief Datuk Chua Tee Yong, who is also an accountant, claims that Selangor misused RM1 billion in state funds to bail out debt-ridden Talam, now known as Trinity Corp, in early July. However, he later revised the amount, claiming the state government paid RM266 million to bail out Talam.

He said Permodalan Negeri Selangor Bhd (PNSB) had gone into debt after buying land originally owned by Talam.

However, DAP national publicity chief Tony Pua rebutted that the state’s subsidiary company actually turned in a profit of RM28.4 million after 2008 based on financial statements from 2008 to 2011.

The documents showed that PNSB recorded profits of RM8 million, RM23.4 million and RM28.3 million for the years 2009 to 2011 respectively.

Meanwhile, MCA further alleges that the price of 13 parcels of land sold by Talam to the state in 2010 as part of the debt-recovering exercise was not approved by the Securities Commission (SC) or Bursa Malaysia Securities Bhd. However, Khalid pointed out that getting the land evaluated before being sold is Talam’s own responsibility.

“It’s their own business and I’m sure Talam would have submitted the necessary documents to the SC and shareholders for their approval before selling,” he said.

Khalid added that the state had only tasked the Menteri Besar Incorporated (MBI) to collect debt during the state assembly two years ago and not get involved with their business.