The revelation by Finance Minister, Lim Guan Eng that 87.7 per cent or RM4.53 billion of the Trans Sabah Gas Pipeline (TSGP) project cost in Sabah has already been paid despite its completion rate of just 13 per cent is totally shocking.
It was ridiculous for the payment to have been released for the TSGP.
It should be bear in mind TSGP project involved huge borrowings from the EXIM Bank of China and payment of the loan was guaranteed by the federal government.
What is left for Sabah if the project is not completed while the Federal Government has to pay to EXIM Bank of China in the event default of payment? Do Sabahan so stupid to borrow money from foreigner and pay in advance to another foreigner despite slow project progress?
I had asked the previous BN government to come clean on this project since November last year.
At that particular time, Maximus Ongkili, the then Energy, Green Technology and Water Minister has defended the said project.
With the revelation by MOF this week, we can see how irresponsible Maximus Ongkili was while he was sitting in the cabinet.
Anyone with common sense would know that this kind of lopsided and ludicrous contractual payment term is gravely disadvantageous to Malaysia.
Maximus Ongkili should feel ashamed for making Sabah and Malaysia a laughing stock for defending such agreement. Maximus Ongkili has failed to execute his job as the Energy, Green Technology and Water Minister and to protect Sabahan interest.
Following the MOF report, I am convinced that this project may turn into one of the biggest scandals after 1MDB.
A lopsided agreement which brings no benefit to the people of Sabah should not have been approved at the first place.
All investments must be scrutinised and approved only if it bring real benefit to the people.
I have never supported the project personally as I am of the view that given the value of the project involved, the same amount of money could be better utilised to fulfil the renewable energy potential in east coast of Sabah.
I welcome the action taken by the MOF, together with the Malaysian Anti-Corruption Commission (MACC) to lead a team of delegates to China in order to investigate if there is any wrongdoing involved in the negotiation and awarding of the project to the China Petroleum Pipeline Bureau (CPP).
However, I urge all stakeholders of this project, i.e., Malaysian Government and China Government to discuss this matter thoroughly and come out with a solution for the benefit of Malaysians.