Lim Guan Eng.
What more can we say about this so called brilliant Chief Minister who was exposed frequently as a liar and a below average manipulative leader?
The latest of his ploy to show that he is the next best thing after Anwar Ibrahim (God’s gift to Malaysia) is his pathetic ruse to hoodwink Malaysians on how good he was to decrease Penang’s debts.
Of course, besides himself, the ones that are singing his praises are non other than The Malaysian Insider crowd.
Again, blogger SatD has once again burst Guan Eng’s bubble in his latest article here.
Basically to cut the story short, this is what had happened;
The Penang state has a burgeoning state debt of near RM700 million as at June 2011. The debt has increased every year since Guan Eng took over the state with deficit running in the millions.
Back in June 2011, as the result of his own poor leadership, he sought help from Federal Government to re-categorise most of the state’s debt into Federal grant.
GEORGE TOWN: The Penang government has agreed to the water restructuring agreement with the federal government in exchange for a complete restructuring of outstanding federal loans of RM655.24 million owed by Penang, said Chief Minister Lim Guan Eng.
The exercise involves the migration of the core assets of the state-owned Perbadanan Bekalan Air Pulau Pinang (PBAPP) to Pengurusan Aset Air Bhd (PAAB), a company under the Ministry of Finance Inc.
The agreement shows that the Pakatan Rakyat state government is committed to a mature working relationship with the federal government in the national interests and for the people’s benefit, said Lim.
Under the agreement, PAAB will assume responsibility for water supply projects through the National Water Services Industry Restructuring Initiative.
Read rest of the article here.
In other words, the ‘evil’ Federal government helped the ‘brilliant’ Guan Eng to re-classify his embarrassingly huge state debts into an interest free lease arrangement. Guan Eng again has been caught lying especially in this particular case where he is caught mouthing figures that are untrue and more heinously, had badmouthed the Federal government in singing his own praises.
GEORGE TOWN, Oct 26 – Penang has sliced RM600 million or 95 per cent of the state’s debt since the Pakatan Rakyat took over the state in March 2008, Chief Minister Lim Guan Eng said today.
The first-term chief minister pointed out the state debt stood at RM29.66 million as of September 30 compared to the massive RM630.13 million in March 2008.
Guan Eng also said Penang’s Budget 2012 will be a surplus even as it is expected to undergo a deficit of RM107.78 million because the state has regained RM1.13 billion in reserves as at end of last year.
With such glowing figures in the black, the Johor-born DAP leader could not help but point to his political foes helming Putrajaya which saw the national debt grow as much as RM190 billion or 71 per cent within the same period. Source here.
Sliced 95% of state debts and then proceeded to criticise the Federal Government? What kind of a human being are you Lim Guan Eng?
You sliced nothing Guan Eng!
What you did was just window dressing your state’s financial woes.
Please note that Penang’s average GDP after Guan Eng took over is very poor:
How would the ‘evil’ Federal Government help Guan Eng? The gist of it is as below:
1. The state’s outstanding loan of RM655.24 million from the federal government will be interest-free and rationalised by alienating state land-related water assets to PAAB for a period 45 years. PAAB will lease back the water assets to PBAPP for 45 years and PBAPP shall pay PAAB a yearly lease of RM 14.56 million. Upon settlement of the lease at the end of 45 years, the state land will automatically revert to the state;
2) The funding for the Mengkuang Dam expansion project of RM1.2 billion will be given as a grant by the federal government instead of a 3% interest loan
Obviously with SatD’s latest expose, Lim Guan Eng’s self praises had fallen flat. As rightly pointed out by SatD, this failed accountant should be thanking the Federal Government instead of biting the hand that had fed him.
Moreover, Lim Guan Eng is not nearly good enough as his sycophants in Malaysian Insider would like to believe.
In fact, if one to consider all the tricks and lies made by Guan Eng, then psychologically, Guan Eng himself knows that he is not doing well in Penang. That is why he has to resort to all this peurile lies and fabrication with the help of other insidious machinations in the form of Malaysian Insider and Malaysia Kini.
These two portals have made it a priority to promote his leadership which is currently facing the risk of cracking under the weight of beleaguring attacks due to his own incompetence.
I wonder whether The Malaysian Insider will expose the fiction made by Lim Guan Eng since that portal claims itself to be independent and neutral.
Well, we all doubt it right?
Sometimes I sympathise with all the reporters in The Malaysian Insider and Malaysia Kini. Their lousy journalistic skills will not endear them to any future employers.