Thursday, November 17, 2011

Chief Minister Lim Guan Eng - Third Link Tunnel via Land Swap Deal

The Penang third link tunnel had been a news item back in April 2011 and was reported Nov 14, 2011 "Penang govt proposes tunnel as third link" as though it were a new initiative by the Penang State Govt.

"The tunnel is one of four projects announced by Chief Minister Lim Guan Eng here to resolve the island's severe traffic problems."

Never mind. What is more interesting is,

"We estimate that the project will cost RM5bil to RM8bil depending on the bids from prospective contractors," he told a press conference Monday. Lim said the state government will pay the contractors via a land swap deal.
"It will be a win-win situation. The government does not have to pay money and the contractor gets prime land that will triple in value," he said.
Win-win? the people of Penang losing "prime land that will triple in value" just to get an easy ride to Butterworth?

Maybe the tunnel would have hospitals or shopping malls.

As I recall in that damning titled report "Malaysia Losses From Racial Law Exposed" by Bloomberg,

The state can’t offer tax breaks for investors or sell bonds, both controlled by the federal government, so it plans to use revenue from local land levie to build more roads and a third bridge linking the island to its mainland territories, according to Lim, who is also secretary-general of the opposition Democratic Action Party.

This is the typical talk big syndrome of the DAP.

The Chief Minister from Malacca acts as though Penang is his grandfather's property.

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