Tan Kay Hock is the low-profile controlling shareholder of Johan Holdings Berhad, a public-listed investment holding company. He is also the golf buddy of Najib Tun Razak and this relationship has made him hundreds of millions. Kay Hock recently caused ripples in China when he asked the Chinese for RM500 million and told them that RM200 million is for Najib’s family.
For about ten years and over three Prime Ministers, the current Prime Minister included, the contract for the double-tracking electric train from Gemas to Johor Bahru has been ding-donging. Despite what was agreed between the leaders of China and the three Prime Ministers, which was later confirmed by the issuance of a Letter of Intent to China Railways Engineering Corporation (CREC), the government is again backtracking.
For about ten years and over three Prime Ministers, the current Prime Minister included, the contract for the double-tracking electric train from Gemas to Johor Bahru has been ding-donging. Despite what was agreed between the leaders of China and the three Prime Ministers, which was later confirmed by the issuance of a Letter of Intent to China Railways Engineering Corporation (CREC), the government is again backtracking.
Najib now wants to award the contract to China Harbour Engineering Co. Ltd. (CHEC) instead, the company that is building the Second Penang Bridge -- which shot up from RM1 billion to RM4.5 billion and now to RM22 billion (read more on the matter below).
The man behind this is Tan Kay Hock, Najib’s golf buddy. He is brokering the deal on behalf of CHEC.
The Chinese say that Tan Kay Hock is demanding RM500 million from CHEC and he told them that RM200 million is for Najib's family. And this is making the Chinese very unhappy because, in China, both the givers as well the receivers of bribes will be sentenced to death with a bullet in the head plus the cost of the bullet is charged to the family of the deceased.
When the Chinese government offered the Malaysian government a loan to construct the Gemas to JB railway they indicated that CREC should be the contractor. CREC is one of the biggest specialist contractors for electric trains while CHEC has not constructed even one kilometer of electric railway.
A Letter of Intent had already been awarded to CREC. Now the government wants to cancel this Letter of Intent and issue a new Letter of Intent to CHEC. But for the new Letter of Intent to be issued to CHEC they must fork out RM500 million, which Kay Hock claims RM200 million will be paid to the Prime Minister of Malaysia’s family.
This is not only a violation of the terms of the loan from China but CREC is the company with the experience in constructing electric railways, not CHEC, the company already involved in the construction of the Second Penang Bridge. Added to the withdrawal or cancellation of the Letter of Intent to CREC and a new one issued to CHEC, with a RM500 million ‘price tag’ attached, it puts the Chinese government in a dicey spot when the risk would be a bullet in the head for those who approve the payment.
The Chinese are wondering whether it is worth the risk to pay Kay Hock the RM500 million he is demanding. If the Letter of Intent to CREC can be withdrawn after issuing it, what guarantee is there that the new Letter of Intent to CHEC will also not be withdrawn after they pay the RM500 million?
The Chinese are very aware that Vincent Tan also received a Letter of Approval for his gaming licence, signed by the Deputy Minister of Finance. However, after he paid RM170 million ‘under the table’, Najib denied in Parliament that Vincent Tan had been given a gaming licence and subsequently the Letter of Approval was withdrawn.
KTM is being used as Najib’s new cash cow. The EMU coach was a deal involving Rosmah Mansor (Najib’s wife), Mumtaz Jaafar (Saiful Bukhari Azlan’s ‘godmother’) and Cindy (Desmond Lim's wife). Desmond, in fact, handled the deal where KTM coughed out RM1.4 Billion for coaches that cannot function. According to KTM, the coaches are not even worth RM300 million.
The saga gets more interesting with Najib and Rosmah holidaying in Monaco as guests of Jho Low -- who told everyone that the yacht belongs to the Prince of Qatar. It was later revealed that Jho Low rented the yacht for Euro 90,000 per day to allow Najib and Rosmah to rub shoulders with Hollywood Starlets.
That brings us to a very crucial question. Where did Jho Low get that kind of money? Well, you see, after Malaysia Today exposed Deepak Jaikishan -- Rosmah’s carpetman cum bagman cum toyboy -- she was forced to dump him. So now Jho Low is Rosmah’s new Mister Fixit and Collector of Commissions.
Let us see how the CHEC-Tan Kay Hock saga is played out. Now that the Chinese government knows that we know about the RM500 million deal would they dare still proceed with it? And does Tun Dr Mahathir Mahathir know that Najib has hijacked his pet electric train project?
Mr Tan is said to be a golf buddy of Prime Minister Najib Tun Razak
He is the low-profile controlling shareholder of Johan Holdings, a public-listed investment holding company, and said to be a golf buddy of Najib Tun Razak.
The Financial Times had reported that Tan Sri Tan, 61, was the owner of the 607ha Guiana Island, which is now at the centre of a fraud case brought by the United States authorities against Texan billionaire businessman Allen Stanford.
The Straits Times (Singapore)
12/09/10
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