Friday, July 30, 2010

PBAPP : Drowning in Incompetency (Final Part)

Lim Guan Eng aka Guano, I know for a fact that this is a mosquito blog and does not warrant a secondlook nor be dignified with your replies. But I will put forth these questions to get a clearer picture of PBAPP's murky future considering the current water tariffs and given its tardy finances. You need not reply here but may use any other forum at your discretion to address what you would admittedly concede to be legitimate concerns

Fact : In 2007, a total of RM850000.00 was expended to upgrade facilities at the Teluk Bahang dam for the annual Penang Dragon Boat races comprising the international race and the smaller Penang Pesta dragon boat race. In 2008, another RM850000.00 was expended by the PBAPP for the same reason. (both amounts are available in the respective Annual reports under the CSR sections)

Q1 (a): With total infrastructural investment amounting to RM1.7million, why did the Penang State Government sanction the Pesta Dragon Boat race to be held in the dangerous Western Channel off the Sungai Pinang Jetty in Jelutong?

Q1(b) : Isnt the relocation of the event at the new site a wastage of PBAPP funds amounting to RM1.5million through the underutilisation of the Teluk Bahang dam and isnt the sudden cancellation of the new venue an admission that it was unsuitable for such events in the first place?

Q1 (c) : Isnt such organisation, an act of wilful negligence that also contributed indirectly to the dragon boat training tragedy of 2010 in which 6 students perished?

Fact 2: Buried deep in the 2009 Annual Report was the troubling disclosure that PBA has a deferred tax liability amounting to 54.9million (see screen capture below)

Q2 : Can you explain what effect will the said liability have on overall finances in the short term?

Fact 3: It is a given fact, that you, Lim Guan Eng, claimed that investments in NRW management was curtailed due to reductions in operating expenditure.

Q3: I put it to you that you LIED in making such a factually erroneous assertion when in fact operating expenditure increased by approxiamtely 4million in FY2009 from RM 180million in FY 2008 to RM184million in FY 2009.

Fact 4: Apart from a deferred tax liability, there is also a contigent liability subsequent to the balance sheet being posted. This liability constitues a third party claim amounting to RM26million which is is now awaiting arbitration

Q4(a) : Provision of details pertaining to the said claim without prejudicing your legal rights.

Q4(b) : If the judicial decision is unfavourable, list out how PBAPP will cope with this contigency and what impact will this liability will have on the group's finances
Fact 5 : Director's fees consisting of allowances increased by more than RM100k in a period of "recession" as you cunningly put it.

Q5: Can you, Lim Guan Eng morally justify such blatant excessess to enrich yourself and your cronies when the group is mired in an economic "slump'?

I guess that will suffice for the moment but rest assured that I have more questions, armed with facts and evidence, to ask regarding several other issues and the Penang economy. In the meantime, I suggest you resign and dissolve your racist and incompetent administration and beat a hasty retreat from the once Pearl of the Orient lest I expose you for the charlatan you are.

Revert: Rest assured that more revelations are in store. Wonder how the PAC shield will be deployed now? Guess the vaunted CAT is literally so transparent that it is invisble to public eye!

Buffalo: The CAT sounds more like a desert fata morgana to me.....moooooooooooooo and the DAP, racist fodder of the gutter kind....hahahahaha ROFL

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