Sunday, December 21, 2008

Tee Keat trumpets PKFZ successes

Transport Minister Datuk Seri Ong Tee Keat, who vowed to reveal all in the Port Klang Free Zone (PKFZ) debacle, offered instead a testimonial of his own apparent success in revitalising the scandal-ridden project that helped force his predecessor out of office.

He told a press conference that the occupancy rate, employment, investment status and cargo movement have increased since he took over as Transport Minister.

The PKFZ project has been criticized because its development cost of less than RM2.5 billion had ballooned amid concerns about its ability to meet its debt obligations as well as that of the soft loan.

There were also questions about the possible kickbacks after it was disclosed that several individuals acquired the piece of land where the PKFZ now sits at RM3 per sq ft in 1999. The Port Klang Authority (PKA) later acquired the land at RM25 psf.

PKFZ ran into further problems when Jebel Ali Free Zone quit the management of the property.

Ong said PKFZ had recorded an increase of more than RM200 million in investments from March to November.

Occupancy rate for all facilities had also increased, with the leased office block recording the most significant increase from one per cent in March to 19% as of November.

For open land and light industrial unit facilities, the occupancy rate is now 18% and 17% cent respectively.

“The Jebel Ali took six years to have 40 per cent occupancy,” said Ong referring to the free zone in the United Arab Emirates.

Most importantly, said Ong, was the number of employees in the area which had increased from 972 to 1,659 within the last eight months.

“I still can remember when I first set foot in the area, people said this is a ghost town,” said Ong when elaborating on the success in increasing the number of employees in the PKFZ.

Source: The Malaysian Insider

Ong Tee Keat says he has done a great job of increasing the occupancy from 1% to 19% ... That is FANTASTIC! But ... 19% occupancy also means 81% unoccupied??? Let's say, you built 10 houses to be leased and only 2 houses is leased; won't it mean: you will be making a huge loss? Eight houses unoccupied and the developer says he has done a great job? Of course it has improved from 1% to 19% but the fact still remains that 81% remains unoccupied and 81% holding cost.

Anyway, let's celebrate too! Results are results ... if your son scored 1% in maths and science and has now scored 19%, though he still fails but he has improved tremendously, and if we allow this kid another 20 years at the same school and the same class, he may be able to further improve to 50% and pass his SRP exam at the age of 35. Still not too late.

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16 comments:

agnos said...

i have always thought he will be different from the other politician and will walk his talk.,. guess i am too naive.

he's a huge let down.

cakapaje said...

Lol! I just can't help but laugh at the last para of Malaysian Insider report!

ps. Are they implying something about Ong's education? :)

Maverick SM said...

Agnos,

No disappointment. He is what he is; and is still is, the same man.

cakapaje,

He is from University Malaya.

gongkaukau said...

Let's all celebrate.Let's celebrate the success of all those who got away with blatant corruption and stole the taxpayers' money. After all this the the land of plenty for those with connections to AMNO. Let's celebrate the new direction taken by the MCA President!

Once MCA, forever MCA!

Call this stupid report a rveal-all report?

Maverick SM said...

Gongkaukau,

Ya, let's celebrate with MCA and MCC.

Anonymous said...

Why so kan cheong...

As usual, we got to wait long time ma or any investigation.

I think this OTK already achieved Guiness World of Records, break Malaysia Boleh record for reporting.

I will wait for the Price Waterhouse report.


KINGKONG

Another lapdog said...

This Ong Tee Keat is typical lapdog. Before presidential election, he was toking loudly of his great agenda of reform and change in MCA. Tell great lie that he will tell all on the PKFZ scandal, to merely show that his is not afraid, damn high integrity and transparency. Worst, he use temple, showing him praying in his presidential video, to deceive people how religious is he.

see his video here:-

http://www.youtube.com/watch?
v=ilJOOlHsNkw

"....Principle of without fear or favor...."

Memang cakap tak serupa bikin.

Look here,

http://thestar.com.my/news/story.asp?file=/2008/4/8/nation/20878805&sec=nation

Tuesday April 8, 2008

Ong to tell all on Port Klang Free Zone

KUALA LUMPUR: New Transport Minister Datuk Ong Tee Keat will reveal how the RM4.6bil soft loan to the Port Klang Free Zone was spent.

“I wish to inform the rakyat about the true situation – whether it was actually squandered, not squandered, and where it has gone to, as well as the breakdown of the budget,” he said


Hi young man Ong Tee Keat!!!!

Listen, if you dont have the balls or intention to do it in the first place, please for goodness sake don't cheat the voters who throw the support to you as MCA president. Don't try to show off, when you are just "tin kosong"

Tell chronology of events and trumpet your so-called success is not TELL ALL, you think we Rakyat stupid ah?

You are insultig us!!!!!

Maverick SM said...

KingKong,

Good advice.

Another lapdog,

He change his mind because he discovered something mysterious.

bond said...

Alamak.
Typical Kepala Otak minister from Benggap Lah cabinet. Can't blame so much on Tee Keat; his Boss as much Dumber than him.

Anyway, Government done good deal with Year End Sale! Petrol reduced, Unemployment increased, Investors ignored the Country, Landslide looting. What more can we ask... they've done great job to cheat the people, aren't they?

engkaulah said...

That's another milestone to the BN losing the control of the Parliament in the next election!

Ah Gu said...

What is the difference between Semi-Value and OTK?

SV sudah makan kenyang. OTK baru mula makan, belum kenyang lagi.

Maverick SM said...

engkaulah,

But, we will be having a new Prime Minister and new leadership by March09?

Ah Gu,

You are humorous.

dee3 said...

what? no award of consultancy services before 'revealing' the outcome of nearly 20% occupancy?

ish ish ish consultants manyak kesian lo because cannot cari makan from him...
ko lien!

artchan said...

Long ago....I already knew the outcome..when you replace an MCA man with another MCA man.

OTK also wants to jaga his own backside and rice bowl..so he will sell his values.

Or maybe keeping quiet..is more profitable?

Maverick SM said...

dee3,

Saya tengah binchang dengan PriceWaterhouse dan OKT; masih ada chance.

Artchan,

Ya, quiet is often profitable and preferable.

Anonymous said...

ong the magician,

even at 100% occupany, PKFA cant even pay the interest coz of the freaking low rental rates. please come clean and MR STAR, stop yoyr propaganda. I wish I cant tkae this stupidppaer to court for LYING.