I propose the government force MRCB to sell the Johor Eastern Dispersal Link (EDL) to DAP and let them run it. DAP Kulai MP Teo Nie Ching complained that MRCB will collect BILLIONS from this obviously songlap project therefore government needs to settle this serious songlap case. She says that MRCB will collect RM4.3billion over the 34 years concession period whereas MRCB invested only a tiny RM1.2billion in this project. Even taking into maintenance and management cost, MRCB will still songlap BILLIONS from this project. This is an outrage! How can we allow a private company (although EPF and Tabung Haji has a 39% and 10% stake in MRCB) to make billions out of ordinary taxpayers? Therefore, Govt must force MRCB to sell the EDL project to DAP at cost price of RM1.2billion and let them run it and make the billions. To make it fair for DAP, Govt must also guarantee that DAP makes exactly RM4.3 billion after 34 years - not a sen less or more! After 34 years, the RM4.3 billion that they will make out of their RM1.2 billion project comes out to be a staggeringly high 3.75% ROI! Ignoring that you will still need to spend money to upgrade and maintain over the years, returns up to 3.75% per year is still too high and is obviously too beneficial to the crony MRCB. I am sure DAP can secure cost of funds lower than 3.75% by going on a donation drive at their various ceramah and fund-raising dinners. malaysiakini/news/280019
Posted on: Tue, 11 Nov 2014 01:40:15 +0000
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