Thursday, November 17, 2011

Lim Guan Eng - Talk Big and Talk Cock?

In my previous post I said the Ah Beng Penang chief Minister, Lim Guan Eng, "acts as though Penang is his grandfather's property."

He only acts.

For all his grandiose announcements, from reports coming in fast and furious, he is just getting cheap propaganda.

The Star report today is revealing, "CM: No more land reclamation in Gurney Drive"
"Chief Minister Lim Guan Eng said any land swap would only involve the existing land reclamation rights granted to Eastern & Oriental Bhd by the previous administration."

He even went as far as to say,
"I told the reporters in Kuala Lumpur that 299ha of reclaimed land in Sri Tanjung Pinang would be involved in the infrastructure projects."

He said no monetary payment or funding would be given by the state for the construction of three by-pass highways and a sea tunnel linking the island to the mainland.

“Costs incurred may be recovered through land swap, toll or any other form. The other three projects would involve land swapping. I’m trying to get as much as possible for Penang,” he said
That makes the whole scenario complicated in more ways than one but definitely shows it is all bluster by the Ah Beng Chief Minister.

How do you swap land that is being developed by Eastern & Oriental Bhd,
“Phase two will be a mixed integrated development comprising two islands of approximately 740 acres in size. At three times the size of phase one, phase two is expected to generate RM12bil in gross development value,” Chan told StarBiz
Eastern & Oriental Bhd also hold the concession rights for reclamation. Annual Report 2011,
In April 2011, the Penang State Government granted its approval in- principle, a crucial milestone for E&O towards reclamation of the balance concession area of 740 acres at Seri Tanjung Pinang. Going forward, other approvals by relevant authorities will need to be sought, most notably, an environmental impact assessment and traffic impact studies which are currently being undertaken.
Isn't Ah Beng Chief Minister talking cock?

Remember the E&O/Sime Darby brouhaha and ECM Libra?

How about this,
Penang Chief Minister Lim Guan Eng said the funding of these crucial road works would be done via a land swap.

“We will finance these projects by land swap as they are expensive. The land will be nearby reclaimed land, which means they will own a certain acreage. These companies appear to be interested (in these projects) even though they involve a land swap. We might as well use something to improve traffic,” Lim said in an interview after opening the one-day investPenang seminar organised by ECM Libra Financial Group Bhd recently.

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