RM7 Billion Ampang LRT Line Contract Goes to... Puchong Brass Pipes Manufacturer!
The long-delayed Ampang Line contract has finally been announced and the big winner is the George Kent-Lion Pacific joint venture (JV), Bernama reports.
This will also be the start to a new controversy that will surely be exploited to the maximum by Pakatan Rakyat due to claims that hidden hands had pulled the strings and allowed the contract to be awarded to company that is alleged to be incapable of handling such a big project.
Shares of the usually-quiet George Kent (GKent Code: 3204) had seen several upswings in its price over the past few weeks on rumours that it was being awarded the contract (See the price movement at The Star here). Each time, the company would claim to be "in the dark" and the price would come down again. The last upswing started on July 16 which saw the price rising from 0.99 to 1.07. It gradually dropped back to 0.99 when the company denied the report.
But now that it's officially confirmed, this award will become a hot issue. There are valid questions: for instance, how could a company with a market capitalisation of only RM223 million be able to undertake a project of this nature? Then there's the question of technical capability - this is, after all, a company that is better-known as a manufacturer of brass pipes and assorted knobs which is a few worlds away from the gargantuan task of building a LRT line.
All the questions and allegations about the awarding of this contract will be a big negative for Barisan Nasional; turning into new material for Pakatan Rakyat to exploit after the NFC controversy involving the family of Umno chief, Datuk Shahrizat Jalil.
Prasarana and the government will have to take the bull by the horns and explain this matter thoroughly. Any attempt to detract from the valid questions raised will only reflect badly on the government. Would it be fair to the foot soldiers and the minor leaders in BN, who have made a lot of headway in regaining some of the support lost in 2008, in having to defend yet another questionable issue?
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More » Bonology.com | Pakatan Rakyat (PR) | Sociopolitics Plus | 大马社会政治
This will also be the start to a new controversy that will surely be exploited to the maximum by Pakatan Rakyat due to claims that hidden hands had pulled the strings and allowed the contract to be awarded to company that is alleged to be incapable of handling such a big project.
Shares of the usually-quiet George Kent (GKent Code: 3204) had seen several upswings in its price over the past few weeks on rumours that it was being awarded the contract (See the price movement at The Star here). Each time, the company would claim to be "in the dark" and the price would come down again. The last upswing started on July 16 which saw the price rising from 0.99 to 1.07. It gradually dropped back to 0.99 when the company denied the report.
But now that it's officially confirmed, this award will become a hot issue. There are valid questions: for instance, how could a company with a market capitalisation of only RM223 million be able to undertake a project of this nature? Then there's the question of technical capability - this is, after all, a company that is better-known as a manufacturer of brass pipes and assorted knobs which is a few worlds away from the gargantuan task of building a LRT line.
Puchong tap-head manufacturers make it to the big time!
All the questions and allegations about the awarding of this contract will be a big negative for Barisan Nasional; turning into new material for Pakatan Rakyat to exploit after the NFC controversy involving the family of Umno chief, Datuk Shahrizat Jalil.
Prasarana and the government will have to take the bull by the horns and explain this matter thoroughly. Any attempt to detract from the valid questions raised will only reflect badly on the government. Would it be fair to the foot soldiers and the minor leaders in BN, who have made a lot of headway in regaining some of the support lost in 2008, in having to defend yet another questionable issue?
More » Bonology.com | Pakatan Rakyat (PR) | Sociopolitics Plus | 大马社会政治
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