My 16th question to Zambry – why did Zambry allow ATP to pay SDGM RM1.78M in excess for the Lake Coaster?

The special internal audit report in section 4.5.4 stated that although the certification of works for the Lake Coaster was only RM20.3M, ATP has made a total payment amounting to RM22M to SDGM which is RM1.78M in excess.

Zambry must explain how could this have happened. It is ridiculous to pay such enormous sum for a Lake Coaster that ATP did not plan to install, it is even outrageous that ATP has overpaid RM1.78M for it!

The special internal audit report has confirmed that the payment made by ATP to SDGM for the Lake Coaster was more than the certified amount. The report noted that the surplus which amounted to RM1.78M was to be deducted from the next progress claim however there was no subsequent claim made by SDGM on the lake coaster as the work on Lake Coaster stalled after progress claim no. 1.

The current offer ATP has for the Lake Coaster is only USD2.8M or RM11.48M from a potential buyer. If this deal goes through this would mean ATP would realise a loss of RM10.52M on the Lake Coaster.

Zambry must be fully held responsible for the decision to purchase and pay RM22M to SDGM for the Lake Coaster. I urge Zambry to explain the rationale of overpaying for something (Lake Coaster) that ATP has no plans to install. The Lake Coaster is currently still sitting on an empty land beside MAPS.

Chong Zhemin
Chairman of the Audit Committee Perak Corporation Berhad & SA FOR KERANJI
Media statement by Chong Zhemin in Ipoh on Monday, 8th April 2019