A senior Transport Ministry official was chided by the High Court here after he admitted to making a mistake in his understanding of the valuation by the Valuation and Property Services Department (JPPH) on a 335.8ha piece of land in Pulau Indah for the Port Klang Free Zone (PKFZ) project.
P. Chandrasekaran, 56, who is currently the ministry’s aviation division undersecretary, said he had misunderstood the terms in the department’s valuation in 2000, believing that the RM25psf for a loan period of 10 years was not inclusive of a 6% interest rate.
This was reflected in Chandrasekaran’s memo on Oct 14 that year to then Transport Minister Tun Dr Ling Liong Sik over the land purchase, in which he said:
“The valued land is based on a special value of RM25psf for a period of 10 years, not including the coupon rate.”
Chandrasekaran, who was then principal assistant secretary in charge of seaports, said this during his examination-in-chief by deputy public prosecutor Manoj Kurup.
Manoj: In your understanding, the RM25psf didn’t apply to the coupon (rate of 6%)?
Chandrasekaran: At that time, yes.
Manoj: How can you say it is not included when it (JPPH’s valuation) says “based on these terms” (which includes the 6% coupon rate)?
Chandrasekaran: I can’t explain but at that time, my understanding was like that.
At this point, Justice Ahmadi Asnawi chided Chandrasekaran, saying that he could not accept his answer.
“It’s very clear (referring to the valuation). If you’re not educated, I can accept it, but you are a senior government servant,” the judge said.
Chandrasekaran then said his understanding of the matter was different now, adding that the RM25psf had included the 6% coupon rate.
Earlier, the court was also told in Chandrasekaran’s letter to KDSB chief executive officer Datuk Seri Tiong King Sing on Oct 2, 2000, he had informed KDSB that JPPH had re-valuated the land at RM25psf at “special value” when its “special value” was in fact RM21psf.
He said at that time he had understood the RM25psf for deferred payment to be “special value” and RM21psf was “special value” for cash payment.
Manoj: Is that accurate?
Chandrasekaran: Looking at it now, no.
Dr Ling has claimed trial to an amended principal charge of deceiving the Government by not exposing to the Cabinet an additional interest rate of 7.5% annually in the land purchase for the PKFZ project.
He faces two optional charges of cheating the Government by not exposing to the Cabinet facts pertaining to the interest rate, and deceiving it into believing that facts on the land purchase at RM25psf and 7.5% interest were certified and agreed to by the Finance Ministry’s Valuation and Property Services Department when he knew that there was no such consent.
He is said to have committed the offences at the Prime Minister’s office in Putrajaya between Sept 25 and Nov 6, 2002.
Source : The Star
Related News : Former senior Transport Ministry official testifies on purchase of PKFZ land
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