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Wee: Guan Eng Misquoted Me Over Undersea Tunnel Project

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PETALING JAYA - In the latest episode of the Penang undersea tunnel project controversy, Datuk Seri Dr Wee Ka Siong said Penang Chief Minister Lim Guan Eng misunderstood him.

Dr Wee, the MCA deputy chief, did not say that the Penang government had awarded the RM6.3bil project to an 82-day-old special purpose vehicle (SPV) – Consortium Zenith Construction Sdn Bhd (CZCSB) – as claimed by Lim in a statement on his website recently.

Dr Wee said he was referring to the major shareholder and holding company Zenith Construction Sdn Bhd, which was registered on Aug 22, 2011.

“I did not say that the 82-day-old company was the SPV, but the holding company,” Dr Wee said on his Facebook.

Offering further explanation, Dr Wee said the holding company Zenith Construction was allowed to qualify for the request for proposal (RFP) process despite the fact that it was only registered 82 days ago.

He added that Zenith Construction set up the SPV on July 5, 2012 and participated in the RFP which was held the very next day.

“Thus, the holding company Zenith Construction was just 82 days old when it qualified for the RFP, while the SPV was just one-day-old when it won the RFP,” he said.

Lim, in his statement, said the consortium – a bumiputra company formed by local and foreign companies – had fulfilled the RM381mil minimum paid-up to qualify for the project.

He said Dr Wee’s claims that the consortium had failed to meet this requirement were false.

In response to this, Dr Wee shared images of searches with the Companies Commission of Malaysia (SSM) which showed the fully-paid up capital of the SPV at RM26.5mil.

He said the check with SSM was conducted on Jan 22 this year.

-THE STAR