• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
  • Contact
  • RSS
  • Archives
  • Subscribe
The Nut Graph

The Nut Graph

Making Sense of Politics & Pop Culture

  • Projects
    • MP Watch
    • Found in Conversation
  • Current Issues
    • 6 Words
    • Commentary
    • Features
    • Found in Quotation
    • News
  • Columns
  • Interviews
    • Exclusives
    • Found in Malaysia
  • Multimedia
    • Audio
    • Pictures
    • Videos
  • Corrections
  • Letters to the Editor
  • Vault
    • Found in Translation

Highlights of report on PKFZ, PKFZSB

By Joseph Chin

May 28, 2009

KUALA LUMPUR, 28 May 2009: PricewaterhouseCoopers Advisory Services (PwCAS) was appointed by Port Klang Authority (PKA) to conduct a review of the Port Klang Free Zone (PKFZ) and Port Klang Free Zone Sdn Bhd (PKFZSB).

The report was made public on 28 May.

Project costs escalation

In its review of the Port Klang Free Zone Project and Port Klang Free Zone Sdn Bhd, PwCAS said the project outlay for the PKFZ has escalated from RM1.957b to RM3.522b, excluding interest cost. Including interest cost, project outlay increase to RM7.543b.

PKA was unable to fund its obligation to KDSB from its own resources when the first scheduled payment was due in 2007. PKA secured a 20-year soft loan of RM4.632 billion from the Ministry of Finance (MoF), of which RM4.382 billion was available for drawdown. This loan would impose an additional interest cost of RM2.506 billion resulting in total project outlay of RM7.453 billion.

Read more here.


This article first appeared on Thursday, 28 May 2009 in www.theedgemalaysia.com. Used with permission.

 

Filed Under: News Tagged With: Joseph Chin, PKFZ, PKFZSB report, Port Klang, The Edge

Reader Interactions

Comments

  1. tkwah says

    May 28, 2009 at 6:00 pm

    Hahaha. In the end, no one goes to jail….

  2. Thuraisingam says

    May 28, 2009 at 7:39 pm

    The release of the PKFZ fiasco report to the public by the cabinet is actually a last minute attempt to gain credibility in the eyes of public so as to gain some ground of support for the Barisan National government.

    Never in the history of the BN government have the authorities been so generous in acceding to the overwhelming demand of the discerning public for accountability and transparency in government business. The PKFZ issued has been raised umpteen times by none other than the Sun newspaper under the Citizen Nades special reporting corner. Now after the Pakatan government has successfully harnessed the dissatisfaction of the general public with the mainstream media which reported postively on all BN government fiascos, it seems that the BN government is trying to show the Malaysian public that they are “good” by generously making public all and sundry reports on projects that have put a hole in the tax payers pocket.

    But such a stance by the BN government is too late. BN is going to be washed out in the next general election. The will of the people will take its course in Malaysian poltics and all those who previously supported corruption, cronyism, discrimination, racism and largess under BN rule should pack up and leave.

    If they refuse to budge, they will be kicked out disgracefully in the next general election.

  3. Main says

    May 29, 2009 at 9:23 am

    Damn if you do, damned if you don’t.

Primary Sidebar

Search

Recent Comments

  • Wave33 on The Nut Graph stops publication
  • Adam on The Nut Graph stops publication
  • PSTan on The Nut Graph stops publication
  • PSTan on The Nut Graph stops publication
  • Andre Lai on The Nut Graph stops publication

Recent News

  • The Nut Graph stops publication
  • Nasihat tentang sepupu yang mengganggu perasaan
  • Uncommon Sense with Wong Chin Huat: The Sunni-Shia split and the answer to Muslim unity
  • Why Malaysia needs the national unity bills
  • Challenging government in the digital age: Lessons from Kidex
  • Najib’s failure
  • Babi, anjing, pondan: Jijik orang Islam Malaysia
  • Kidex and the law – What the government’s not telling you
  • Beyond Dyana Sofya
  • Uncommon Sense with Wong Chin Huat: Does Malaysia need hate speech laws?

Tags

Abdullah Ahmad Badawi Anwar Ibrahim Barisan Nasional BN Bukit Selambau by-election dap Deborah Loh Ding Jo-Ann Election Commission elections Found in Malaysia Found in Quotation Gan Pei Ling government high court Hishammuddin Hussein ISA islam Jacqueline Ann Surin Khairy Jamaluddin KW Mak Lim Guan Eng Malaysia MCA Menteri Besar MP Watch Muhyiddin Yassin muslim Najib Razak Pakatan Rakyat Parliament Parti Keadilan Rakyat pas Penang Perak PKR police politics prime minister Selangor Shanon Shah Umno Wong Chin Huat Zedeck Siew

Footer

  • About The Nut Graph
  • Who Are We?
  • Our Contributors
  • Past Contributors
  • Guest Contributors
  • Editorial Policy
  • Comments & Columns
  • Copyright Policy
  • Web Accessibility Policy
  • Privacy Policy
The Nut Graph

© 2025 The Nut Graph