PCM lodges MACC report over undersea tunnel contract

07 Jun 2016 / 17:01 H.

GEORGE TOWN: The proposed undersea tunnel project continues to come under scrutiny with Parti Cinta Malaysia (PCM) today lodging a report with the Malaysian Anti Corruption Agency (MACC) to urged for a thorough investigation into the contract.

PCM vice president Datuk Huan Cheng Guan (pix) questioned the current shareholder make up of Consortium Zenith-BUCG (CZBUCG), the company which was awarded the RM6.3 billion project for the tunnel and three paired roads paid for with 44.5ha of land in Tanjung Pinang.

He said a March 2013 Penang government statement then stated the shareholders were a joint venture (JV) between Zenith and China Railway Construction Corporation Ltd (CRCC) with 70% equity, Beijing Urban Construction Group with 10% equity, Sri Tinggi Sdn Bhd with 10% equity and Juteras Sdn Bhd with 10% equity.

He said this differed from a recent Companies Commission of Malaysia (CCM) company search which showed shareholders for CZBUCG to comprise of Zenith Construction Sdn Bhd with 99.13% equity, Juteras Sdn Bhd with 0.863% equity and Beijing Urban Construction Group Co. Ltd with 0.0057% equity.

"Not only dies BUCG have such a tiny stake, but the China Rail Group seems to be completely missing as a shareholder," he said in a press conference after lodging the report at the MACC Penang headquarters here.

CZBUCG chairman Datuk Zarul Ahmad Mohd Zulkifli when contacted, refuted the consortium had any dealings with China Rail Group (CRG) as CRCC and CRG were two different entities.

He said CRCC was still part of the JV and told theSun the shareholder which dropped out from the consortium was Sri Tinggi over business reasons.

He stressed CZBUCG had won the project by open tender in 2013 and questioned why the brouhaha was happening now when work, reportedly on the Air Itam-Tun Dr Lim Chong Eu bypass, was about to start.

"I have nothing to hide, as far as I am concerned, I won the project by open tender, as far as I am concerned, I am trying to deliver," he said adding that he will be considering his options on the matter.


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