According to the paper on 19 Jan 2011, PAC chairman wanted the Auditor- General to prepare a financial report on the Jerejak Project. This is an opportunity for Koh to clear his name, he has nothing to fear if he has nothing to hide.
Earlier the PAC was chairing a meeting on the report of Politeknik Muadzam Shah in Pahang which took 10 years to complete with cost overrun to rm10.
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It started on 15 jan 2010 when Lim demanded an explanation from Koh on the failed Jerejak project. The project was to develop TIR, Tropical Island Resort in partnership with UDA, Urban Development Authority, a federal agency. The project was suspended, the the stage of development is know to Dr Koh alone.
Koh answered on 17 saying that the project was a victim to world global crisis and 911,.. Quote from paper.."Dr Koh, who is Minister in the Prime Minister’s Department, cited the world financial crisis, the Sept 11 World Trade Centre tragedy in the United States and the severe acute respiratory syndrome epidemic in 2003 for the losses".
On 18 Jan Lim said that Penang is willing to buy the project with 2 conditions:
1. UDA had to pay the loan of rm3.6 millions made to the project.
2. UDA had to pay rm 10.6 millions for the land premium.
On the explanation by Koh, Lim was reported saying that Koh blame everybody except God and himself on the failure of the jerejak projek, he pointed that Bali and Phuket were still doing well despite the financial crisis. He was also asking why the land title was given when the premium was not fully paid.
We are waiting for the next reply or actions on the failed Jerejak Project. However the $30 million had been in the drain.
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