DAP to 'strip MCA's RM1bil claims naked' tomorrow

DAP has jump into the fray between MCA and the Selangor government over the alleged RM1 billion deal to aid ailing construction company Talam Corp Bhd.

DAP national publicity secretary Tony Pua said that he will point out factual errors of the MCA's claims tomorrow.

"I am holding a press conference tomorrow to strip (MCA Young Professionals Bureau chief) Chua Tee Yong's complicated accounting allegations naked," he said today.

As the "teaser" for the day, Pua noted that his political opponent has already made two mistakes at the press conference on Tuesday.

Disputing Chua's allegations that the Selangor government's debt restructuring exercise on Talam Corp was a bailout, he said the company had completed its financial regularisation plan as required by Bursa Malaysia in July 2009.

"It was months before the state government came into picture, which was at the end of that year," he added.

He also said the Talam's share was never suspended as claimed by Chua on the assumption that Talam was a PN17 company.

"Chua, of all persons, being a former chief financial officer of a government-linked company, should not be making such a mistake," said Pua, who is a former chief executive officer of an IT company.

Talam was in a joint venture with the state government in a number of housing development. It ran into financial trouble, resulting in abandoned projects. The Selangor government stepped in to ensure that the projects are completed.

[More to follow]