The Transport Ministry yesterday promised to ensure the completion of the runway for Kota Kinabalu International Airport and Tanjung Aru flyover projects following the bankruptcy declaration against its contractor, Tan Sri Dr Ting Pek Khiing.
Dr Ting is Managing Director of Global Upline Sdn Bhd (GUSB) that was awarded the two mega projects in Sabah (here).It is a normal practice for new contractors to review the BQ, costing and other aspects based on current market price of building materials. Both contracts are already behind schedules.
Ting, 67, the developer of the Bakun Hydroelectric Project via Ekran Berhad, of which he is Executive Chairman, was declared a bankrupt after he withdrew his application for the bankruptcy order not to be enforced on him on Nov. 12.
Ting's bankruptcy declaration follows a legal suit initiated in 2004 after he defaulted on a loan by Bank of Commerce Bhd. That loan was to part-finance his subscription of shares under Ekran's rights issue in 1997. As at July 2005, Ting owed some RM60.79 million to the bank.And what will happen to Bakun?
Our government has got this habit of awarding mega projects to 'selected' contractors. They are the big brothers of the industry. Over the last 20 years, few big names were awarded 'out of tender' to carry out important projects, and some had faltered.
I am not sure. Is the government still skeptical in trying out the new and upcoming players? While we chant the 'level playing field' slogan, we dont really put them to test. It doesnt mean the big players do not have problems.
In fact, some new players are much better as they, too want to get fast recognition from the government.
Over the years, the big chunks of contracts are given out to the same names like MMC, Gamuda, YTL, UEM and others. During the 80s, Renong and Landmark were the heroes but what happened to them now?
I think its time to spread our choice and selection. If we fail to try out the new players, we wouldnt know their strength and ability, thus depriving them the equal rights to compete. And if we keep on depending on those 'political-related' conglomerates, we would be frustrated should they fail.
Please la, bos! Orang lain pun nak cari makan jugak. Kalau orang yang sama je dapat kontrak, tutup je PKK!
If we keep on looking for the best in life, we may end up getting nothing...