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26 June 2018
Dr M denies Vincent Tan prompted rethink of ECRL cancellation
PETALING JAYA, June 25 — Prime Minister Tun Dr Mahathir Mohamad denied today claims that his government had decided against scrapping the East Coast Rail Line project because his friend Tan Sri Vincent Tan has a stake in it.
Dr Mahathir said he has no knowledge of Tan’s involvement, and maintained that the decision to keep the project going for now was purely a fiscal policy decision.
“I don’t know about it maybe you should ask him,” he replied when asked about the matter at a press conference here.
This morning, The Edge reported T7 Global Bhd saw its share price surge by as much as 34.5 per cent in early trading amid news reports that the controversial East Coast Railway Line (ECRL) project could avoid the axe under the new government.
The stock hit an intraday high of 56.5 sen in early trade, before ending the morning session at 51.5 sen, up 22.62 per cent or 9.5 sen, with 23.83 million shares exchanging hands.
Tan, the Berjaya Group owner who made his fortune mostly under Dr Mahathir’s tenure as prime minister, was reported to be a substantial shareholder of T7 Global, with the acquisition of 21 million shares or a 5.04 per cent stake.
The newly elected Pakatan Harapan (PH) government had initially said it would scrap the ECRL among other “mega-projects” that had been placed under review as part of efforts to rein in a staggering federal debt.
But in recent weeks, coalition leaders changed their tone and Minister of Finance, Lim Guan Eng, said they would review the rail link project instead.
Among the major reasons for the change in policy was the costly compensation that would have to be paid to cancel the ongoing project, now already at 20 per cent completion.
Today, Dr Mahathir said the project could have a positive impact but said the terms of its contracts must be renegotiated to bring down costs.
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25 June 2018
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Question: Why is an old video of Vincent Tan being circulated especially among pro BN chat groups?
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Rahman Ariffin
🇲🇾 Retweeted khalidkarim
Old video? Really? If that’s so, then yes, Why the recirculation, dear @staronline ?
Why is this video re-circulated?
Its from 2010
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khalidkarim @khalidkarim 10 hours ago
khalidkarim Retweeted Rahman Ariffin
🇲🇾
Star hv not http://re-circulated.It ‘s making the rounds in the pro-BN chat groups~to the extent some are inferring that VT hv got his license back.
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Malaysians loves conspiracies. Just cos Vincent Tan buys a 5% stake in a company (for less than RM10M) that’s in a consortium to TENDER for a subcontract package of ECRL~is good enuff for TunM or MoF to decide to continue with ECRL. And increase the price from RM55B to RM70B
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The Ugly Organ @The_UglyOrgan 21 hours ago
Dipetik dari The Edge: “Companies controlled by tycoons perceived to be connected to Dr Mahathir, such as Tan Sri Syed Mokhtar Albukhary, Tan Sri Vincent Tan & Tan Sri Lee Kim Yew, are also likely to draw renewed interest.” Pasaran pun dah ready, tahu kroni mesti dapat projek.
Mommy Nas @Mommymonster6 16 hours ago
Yes, ni wayang, they all knew 
10th May – PH won. 15th, 16th, 17th May – Vincent Tan bought T7 Global’s shares. 30th May – Mahathir announced ECRL akan dihentikan. 23rd June – Guan Eng announced ECRL akan diteruskan. So means, Vincent tahula ECRL takkan batal 
Dlm tempoh 40 hari, TS Vincent Tan telah membuat keuntungan sekitar RM1.3 juta apabila saham T7 Global meningkat dr 36.5 sen kpd 42 sen pd 22 Jun Saham ini dijangka terus meningkat berikutan pengumuman LGE bhw projek ECRL akan diteruskan. Adakah crony capitalism telah kembali?
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OLD NEWS: JUNE 2010
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Berjaya boss Vincent Tan gives RM525 mil to charity
Tan, who came from a humble background to become one of Malaysia’s richest men today, said it is his dream that the foundation will have a RM1 billion at its disposal and will be one of the biggest charitable foundations in the country.
In a hi-tea press conference at the Berjaya Times Square Hotel, Tan addressed the negative reaction from opposition parties to the re-issue of the sports betting licence to Ascot Sports Sdn Bhd.
He said “unsubstantiated and wild allegations had been made by some quarters about how I have been unjustly enriched by this. It has also been insinuated that in the process, some government officials and political parties have also benefitted”.
“I would like to say that none of this is true. The licence was re-issued to Ascot Sports because the government felt that the time was right to do so in the light of the rampant growth of illegal betting operations and also because Ascot Sports had the first right of refusal to this licence if it was re-issued.
“In order to put to rest all these allegations, I have decided to donate the entire proceeds amounting to RM525 million that I expect to receive from the sale of my 70% stake in Ascot Sports.”
The foundation was formerly called the VTCY Foundation, established in October 1995. It changed to its present name on Feb 4 last year.
It had been doing charitable deeds like helping the poor and needy, offering medical aid, financing soup kitchens, donating to places of worship and undertaking projects to protect the natural environment, without much fanfare. It mainly acts based on letters of appeal sent to Tan.
However, with RM525 million in its coffers, Tan said the foundation will now have to be better organised with a proper board to undertake bigger projects that generate the greatest benefits to the people.
Currently, in the board of trustees are Tun Dr Lim Chong Eu, Tan Sri Abdul Rahim Din, Tan Sri Dr Saleha Mohamed Ali, Tan and his son Robin. More trustees will be invited to contribute.
http://www.thesundaily.my/node/142202
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weehingthong 
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