Wednesday, May 24, 2006

Matrade Finally Completed?

After 9 years, and after overspending more than $120 million over and above the original budget, the project was finally completed.

Rotol-AMS-Bumi Technologies Sdn Bhd, the contractor appointed to carry out the balance works had completed 39 days ahead of schedule. The appointment of new contractors to rectify the defects saw costs balloon from an initial RM167 million to RM287.51 million, with about RM64.8 million spent on repairs.

The building was finally completed by RotolAMSBumi Technologies Sdn Bhd and Syarikat Pembinaan Anggerik Sdn Bhd together with NSC Mekanikal Fastcoll Corporation Sdn Bhd.

Believe it? The repair works costs $64 million and the outstanding works cost $56 million? The contractor must have made a fortune! Anyway, it was better than the previous contractor who had wallop $200 million and abandoned the project. The hardest to swallow is that the previous contractor, Perangsang International Sdn Bhd (PISB), is owned by the Selangor Govt.

PISB was a subsidiary company of Kumpulan Hartanah Selangor Bhd (KHSB), an investment company of the Selangor government.

The Works Ministry plans to bring former board members of Perangsang International Sdn Bhd (PISB) to court.

Samy Vellu said he had personally investigated the company and its directors and all evidence gathered would be produced in the event of a court hearing.

“They cannot just run away and not take responsibility,” Samy said.

Are they running away? No! They are still around and those "culprits" are still managing Selangor Incorporated under the leadership of MB Khir Toyo.

Samy, will you take Khir Toyo to court? He's the chairman of Kumpulan Hartanah Selangor Bhd (KHSB), an investment company of the Selangor government of which PISB was a subsidiary company.

Even then, PISB may still win the case in court, maybe, by technicalities. The formalities of termination of the contract may be the key.

Read more here

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