KUALA LUMPUR – Army personnel can judge for themselves which government truly cared for their welfare, said Anthony Loke Siew Fook (Seremban-PH) as he accuses the former Barisan Nasional (BN) government of interfering in the Armed Forces Fund Board’s (LTAT) affairs.
The former transport minister cited a Public Accounts Committee (PAC) report released today that detailed the then BN government’s plan in bailing out the concessionaires of the automated enforcement system (AES) in 2014 using LTAT.
Speaking in the Dewan Rakyat, Loke said an excerpt in the report had noted that the order for the RM555-million takeover was issued by then prime minister Datuk Seri Najib Razak (Pekan-BN), which confirms political interference at the highest level.
This is despite the deal having little to no benefit for LTAT, he added.
“The prime minister at the time used LTAT to pay two crony companies – ATES Sdn Bhd and Beta Tegap Sdn Bhd – which took the money without really leaving any assets for LTAT.
“What assets did they have? Some 45 AES cameras, and a contract with three years remaining to collect traffic summons that was fraught with problems, including legal implications.”
Loke said when Pakatan Harapan took over Putrajaya, he, as the then transport minister, was the one who suggested returning the RM555 million to LTAT, ceasing the AES contract, and cancelling RM435 million worth of summons.
“The point is, LTAT was made into a political tool by the previous administration, to bail out problematic projects that were shrouding the government.
“I call on all army personnel and veterans in the country to read this PAC report today, every single page. You can conclude then which administration neglected LTAT’s interests and which rescued it.
“It was this DAP transport minister, who was often accused of being anti-Malay, who suggested returning the RM555 million. Without this decision by PH, the amount would have been burnt, and army personnel would have faced issues.”
In November 2021, PAC had released a separate report describing Putrajaya’s directive in 2014 for LTAT to take over AES as an “indirect bailout by the government”.
The committee said the RM555 million consideration was also “overvalued” and “exorbitant”, as the price did not adhere to due diligence undertaken by independent valuer KPMG PLT, which valued the projects at a maximum of RM251 million.
Citing KPMG estimates, the PAC report added that the original AES concessionaires, ATES and Beta Tegap, only commanded a fair market value of between RM198 million (without an extension of the concession period) and RM251 million (with an 18-month extension). – The Vibes, August 1, 2022
.jpg)
