Thursday, 22 June 2017

Dismayed over the exorbitant consultancy fees, 4 times higher !


GEORGE TOWN: Barisan Nasional leaders have criticised the Penang Government for allegedly over-paying, by four times, the detailed design fees of three road projects.

“Construction is not a new industry. Many people are puzzled by the exorbitant consultancy fees,” said Penang MCA secretary Tang Heap Seng in a press statement yesterday.

He said the Board of Engineers Malaysia (BEM) devised a standardised gazetted scale of fees for professional engineering consultancy in accordance with Section 4(1)(d) of the Registration of Engineers Act 1967 (Act 138), and it was highly irregular to deviate from it.


Yesterday, it was reported that Barisan’s strategic communication team sought the professional opinion of BEM on the costing of the three paired roads.

The board was said to have replied that the RM177mil in detailed design costs was four times higher than the maximum allowed under the gazetted scale of fees, which the board calculated to be RM41mil.

The three roads are from Teluk Bahang to Tanjung Bungah, Air Itam to Tun Dr Lim Chong Eu Expressway and Gurney Drive to the expressway. They are meant to be a traffic dispersal system for the proposed Penang Undersea Tunnel.


Penang MCA Youth chief Datuk Michael Lee Beng Seng also issued a statement, pointing out that the alleged overpaid amount of RM136mil was more than the reported RM100mil the state spent on flood mitigation in the last eight years.

“We are shocked that the Penang government has put the well-being and safety of the rakyat behind the interests of consultants and contractors.”

Gerakan vice-president Datuk Dr Dominic Lau highlighted that affordable housing, flash floods and landslides were issues that concerned Penangites.

On Tuesday, Barisan strategic communications director Datuk Seri Abdul Rahman Dahlan announced that he was giving the Penang Government a week to explain BEM’s findings, failing which the matter would be referred to the Malaysian Anti-Corruption Commission.

When asked to comment, Penang Chief Minister Lim Guan Eng replied: “Another day.” - The Star


Related Links

Penang has one week to explain tunnel consultancy fee: Rahman ...

 

Penang govt overpaid undersea tunnel consultation fees by 400 pct ...

 

'Did Penang govt overpay tunnel consultants by 400%?' | Berita Daily

 

Disputes spill into the open

Disputes spill into the open
 

Our permanent forest reserves left untouched, says Guan Eng - Nation


Related posts:

Wednesday, 21 June 2017

Malaysian authorities crack down on virtual money operator, MBI Group International

https://youtu.be/zzn4zLtw_p8

Smooth operation: Domestic Trade, Co-operatives and Consumerism Ministry enforcement director Datuk Mohd Roslan Mahayudin (centre) giving a press conference on the raids which yielded luxury vehicles and cash. Despite the crackdown by the authorities, investors continue to patronise M Mall, which is operated by MBI.

Dawn raids on MBI


Key member of MBI Group International remanded 98 bank accounts containing RM209mil frozen to date Three luxury cars and cash seized


The virtual money scheme operator was hit by three early morning raids in Penang and Kedah as a multi-agency task force acted on intelligence gathered in its ongoing anti-pyramid scheme probe. Investors say they regard this development as a temporary matter, while the public has been urged to come forward and help in the investigation. GEORGE TOWN: After watching the premises closely for a month, the authorities sprang into action and arrested a key person in virtual money scheme operator MBI Group International.

Four bank accounts of a newly- established company that belonged to the suspect’s relative, with deposits totalling RM30mil, were also frozen, while luxury cars and cash were seized in raids on three premises in Penang and Kedah carried out early on Monday morning.

Domestic Trade, Co-operatives and Consumerism Ministry enforcement chief Datuk Mohd Roslan Mahayudin said the suspect, in his 50s, is believed to be the founder of the group.

“He has been remanded for four days since Monday for investigation under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,” he said.

Speaking to reporters at the Bank Negara Malaysia office here, Mohd Roslan said the operation, codenamed Ops Token II, was staged because the premises were believed to be involved in a pyramid scheme.

“They were believed to be the cash storage transit before the money is transferred to other accounts for the purpose of the scheme’s activities,” he said.

Two of the premises were in Taman MBI Desaku in Kulim, Kedah, and one in Sungai Dua on mainland Penang.

Ops Token II was a follow-up to Ops Token I, which was carried out against Mface Club in Klang Valley and M Mall, Penang, on May 29.

Ops Token II was conducted by the National Revenue Recovery Enforcement Team, which comprises the ministry, the Attorney-General’s Chambers, police, Customs, Malaysian Anti-Corruption Commission, Inland Revenue Board, Bank Negara, Companies Commission of Malaysia and the Immigration Department.

Mohd Roslan said the team had been monitoring the premises with the assistance of police for a month prior to the operation.

Three luxury vehicles – a Jaguar, a Range Rover and a Toyota Vellfire – and cash totalling RM2.235mil were seized during the raids, Mohd Roslan said.

The team confiscated RM280,000 from the site in Sungai Dua, and RM187,612 cash and RM218,000 worth of foreign notes from one of the Kedah locations. Nothing was seized from the third location.

The foreign currencies seized were Singapore dollars, US dollars, Thai baht, Australian dollars, Chinese yuan, New Zealand dollars, Indonesian rupiah, Korean won, Japanese yen, Hong Kong dollars, Taiwan dollars, Laotian kip and Cambodian riel, he added.

Mohd Roslan said with the latest series of raids, the number of local bank accounts frozen over the investigation into the group totalled 98, with combined funds of RM209mil.

The bank accounts included 49 company accounts and 49 individual accounts.

Mohd Roslan stressed that the authorities would continue investigating the group and all its subsidiary companies.

While no investors have lodged reports against the group so far, Mohd Roslan urged investors to step forward to assist in the investigation.

The authorities have not estimated the amount of losses suffered by the investors or the public, he added.

Under the Act, the suspect faces a jail term of up to 15 years and a fine of five times the amount or RM5mil, whichever is higher, upon conviction.

The bank accounts, meanwhile, could be frozen for up to 90 days, while the authorities could investigate the matter for a year, Mohd Roslan added.

Authorities crack down on MBI

Key person held, luxury cars seized and accounts frozen



GEORGE TOWN: After watching the premises closely for a month, the authorities sprang into action and arrested a key person in virtual money scheme operator MBI Group International.

Four bank accounts of a newly-established company that belonged to the suspect’s relative, with deposits totalling RM30mil, were also frozen, while luxury cars and cash were seized in raids on three premises in Penang and Kedah carried out early on Monday morning.

Domestic Trade, Co-operatives and Consumerism Ministry enforcement chief Datuk Mohd Roslan Mahayudin said the suspect, in his 50s, is believed to be the founder of the group.

“He has been remanded for four days since Monday for investigation under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,” he said.

Speaking to reporters at the Bank Negara Malaysia office here, Mohd Roslan said the operation, codenamed Ops Token II, was staged because the premises were believed to be involved in a pyramid scheme.

“They were believed to be the cash storage transit before the money is transferred to other accounts for the purpose of the scheme’s activities,” he said.

Two of the premises were in Taman MBI Desaku in Kulim, Kedah, and one in Sungai Dua on mainland Penang.

Ops Token II was a follow-up to Ops Token I, which was carried out against Mface Club in Klang Valley and M Mall, Penang, on May 29.

Ops Token II was conducted by the National Revenue Recovery Enforcement Team, which comprises the ministry, the Attorney-General’s Chambers, police, Cus­toms, Malaysian Anti-Corruption Commission, Inland Revenue Board, Bank Negara, Companies Commission of Malaysia and the Immigration Department.

Mohd Roslan said the team had been monitoring the premises with the assistance of police for a month prior to the operation.

Three luxury vehicles – a Jaguar, a Range Rover and a Toyota Vellfire – and cash totalling RM2.235mil were seized during the raids, Mohd Roslan said.

The team confiscated RM280,000 from the site in Sungai Dua, and RM187,612 cash and RM218,000 worth of foreign notes from one of the Kedah locations. Nothing was seized from the third location.

The foreign currencies seized were Singapore dollars, US dollars, Thai baht, Australian dollars, Chinese yuan, New Zealand dollars, Indonesian rupiah, Korean won, Japanese yen, Hong Kong dollars, Taiwan dollars, Laotian kip and Cambodian riel, he added.

Mohd Roslan said with the latest series of raids, the number of local bank accounts frozen over the investigation into the group totalled 98, with combined funds of RM209mil.

The bank accounts included 49 company accounts and 49 individual accounts.

Mohd Roslan stressed that the authorities would continue investigating the group and all its subsidiary companies.

While no investors have lodged reports against the group so far, Mohd Roslan urged investors to step forward to assist in the investigation.

The authorities have not estimated the amount of losses suffered by the investors or the public, he added.

Under the Act, the suspect faces a jail term of up to 15 years and a fine of five times the amount or RM5mil, whichever is higher, upon conviction.

The bank accounts, meanwhile, could be frozen for up to 90 days, while the authorities could investigate the matter for a year, Mohd Roslan added.

Source: The Star by christopher tanandarnold loh

Related links:


Related Posts:

Two virtual coin get-rich schemes red-flagged by Malaysian Central Bank 

 

On Mcoin, Bitcoin and points of investment 

 

Earn your money the right way: no quick buck, get ...

Singapore's PM Lee family feud

https://youtu.be/lmSWfZZrNbE

A feud between the children of Singapore's late founder Lee Kuan Yew has intensified. The family dispute first became public last year on the anniversary of Mr Lee's death, when the prime minister Lee Hsien Loong's sister, Lee Wei Ling, accused him of exploiting the late leader's legacy for personal gain.

This time, Lee Wei Ling and another brother have publicly accused Prime Minister Lee of disobeying their father's last wishes

 Is Singapore’s Prime Minister Lee Hsien Loong Dishonest?! 

 

  https://youtu.be/BzkEVj-bs3I



Related post


PETALING JAYA: A public spat between the late Lee Kuan Yew’s children has shattered the usually serene political landscape in Sin...