Penang Chinese Chamber of Commerce life honorary president Tan Kok Ping said there would be repercussions resulting from Penang chief minister Chow Kon Yeow’s handling of the Umech land deal.
Earlier this month, PCCC raised the issue of land sold to Umech Construction Sdn Bhd for less than market value.PCCC found the directly negotiated deal to be unacceptable. It alleged that a property developer had taken control of Umech and offered to lease out parcels of the land at high rates. “I hope they can make the evaluation report public and then once it is out, people will die laughing,” Tan was quoted as saying by Sin Chew Daily today.Tan also “predicted” that this would not be the last the public would hear about the deal as legal action would follow, from which there would be a series of “repercussions”.
He added that as a result of the discussions, the company managed to convince PDC that it had found a Dubai-based backer.