2. The PDP would be directly entitled to a minimum 5% of the contract sum for what in Malay is termed 'gaji buta' i.e. working as Chief Shake A Leg.
3. Beyond that, the contract sum would have been inflated by anywhere from 30%-100% as the sub-contract deals would have been done in accordance with UMNO/BN's favourite business model. This is the directly negotiated non-tendered out contract devised by the Economic Mismanagement Unit (EMU) of the Economic Plundering Unit (EPU) of the PMO.
4. The real project work would be done by professional sub-contractors, and management oversight exercised by civil servants engineers etc. in the Ministries.
5. The company would have been formed with $2 paid up share capital a few days or weeks before the contract was awarded.
6. The fake PDP company serving the post-office function would be headed by an Ali Baba crony whose main function would be to launder money and distribute the corrupt money to UMNO and others.
7. Najib would boast that a "significant percentage of contracts" had been awarded to Bumiputra contractors. The reality would often be that the Bumiputras (for a fee) would be fronts for non-Bumis or they would sub-sub-contract a significant portion of the contract to non-Bumis. Najib, fully aware of the reality, would then lie bare-facedly on national TV and at the UMNO AGM that he had fulfilled his God-ordained racist duty to Bumiputras!
Yesterday, in line with this thieving and looting Najib/UMNO/BN culture, the newspapers announced the award of the PDP for the Pan Borneo Highway (PBH) project as follows:
1. $12.5 billion contract for 602km phase 1 awarded with NO OPEN TENDER.
2. Total contract cost including phase 2 is estimated $16.5 billion.
3. PDP company Lebuhraya Borneo Utara S/B (LBUSB) incorporated in 2011 with paid up share capital of $1 million.
4. LBUSB has no track record whatsoever in any business.
5. To-date the company has no sales or activity whatsoever.
6. Completion - 2021.
7. LBUSB is 55% owned by Maltimur Resources S/B (MRSB) and 45% by Jalinan Rejang S/B (JRSB).
8. MRSB is 40% owned by Mohammad Zaidee Abang Hapni, a finance director at KLSE listed company Petra Energy controlled by Bustari Yusuf, who also has interests in Austral Plantations, timber, construction and other businesses through his OBYU Holdings S/B. Zaidee resigned his position at Petra Energy last year to join MRSB.
9. Bustari Yusuf was the former Treasure of Sarawak's main political party PBB under Taib. His brother is Fadillah Yusuf who is Minister for Public Works under which falls the PBH project!
10. To complete the picture, Najib's wife Rosmah and Bustari Yusuff are great friends who once both worked at well-known property developer Island & Peninsula. Bustari and Fadillah's brother, Ahmadi Yusuf, is a director at Petra Energy together with Najib's brother Nizam Razak, who is also a substantial shareholder. Nizam is also married to Taib's niece.
11. No information has yet to emerge as to 45% PBH shareholders JRSB.
As is also normal with Najib, all complaints of staggering conflict of interest with him, Minister Fadillah Yusuf UMNO/BN and PBB have all been summarily dismissed without so much as a peep from the MACC or Parliament. Many indigenous people like the Dayaks are up in arms in Sarawak that their Bumiptra rights have been totally neglected in favour of west Malaysia linked Malay blood-sucking Draculas!
More information is likely to reveal that the other directors and shareholders of LBUSB are all bound to be Ali Babas for various political parties and/or leading UMNO/BN and PBB politicians. At a glance they stand to gain a share of a bare minimum:
1. 5% of $16.5 billion = $825 million, PLUS
2. Say, 30% inflated cost = 16.5 x 30/130 = $3.8 billion.
With such massive easy money to gain, many in UMNO/BN and PBB will sell their wives and mothers for a share!
But this is only the cake. The icing on the cake is the 700km $13 billion Pan Borneo Highway Sabah project awarded to Borneo Highway PDP S/B whose shareholders are:
1. 40% MMC-UEM consortium.
2. 60% Warisan Tarang Construction S/B.
Here are links to articles by Sarawak Report, The STAR newspaper, etc:
18/12/2016 Pan Borneo Highway: Najib Launches 8 Packages - CLICK HERE.
30/04/2015 The PWD Minister's Brother's PBH Connection Exposed - CLICK HERE.
04/07/2015 Little Known LBU Lands Lucrative Job In Sarawak - CLICK HERE.
08/07/2016 Funding Issues For PBH - CLICK HERE.
12/04/2016 BHP Awarded PBH Sabah Job - CLICK HERE.
Folks, the looting and plundering are continuing unabated. Najib has yet to disclose how the $30 billion PBH project is going to be financed given that our national debt is heading towards $1 TRILLION!!! Are you, especially the Malays, still going to vote for Najib, UMNO/BN, PBB and their government of thieves? And do remember, Asia Sentinel has printed in black and white that 3 murders revolve around Najib!! CLICK HERE.