Tuesday, March 23, 2010

INSAP hisap sampai lesap

Wah Lau, I know what Ong Ka Ting's chief strategist did last summer
Sunday, 21 March 2010 admin-s

Ong Ka Ting has a think-tank and it is headed by Tan Sri Lau Yin Pin, the former MCA treasurer-general and chairman of INSAP, the party's official think-tank. But just who the hell is this guy?

By Chiseled Rock

Beneath the veneer of calmness, this bespectacled man from Terengganu is a cunning and greedy man. Everyone knows he has been given a litany of directorships from Ka Ting, including Star chairman, Tenaga board, Koperasi Serbaguna Malaysia, Kojadi, Huaren, etc. That makes him the perfect bagman for Ka Ting, the MCA president who screwed up MCA and now wants to screw it a second time. As Star chairman, he received an annual salary of RM200,000. Combined with income from the other companiess, he can afford to buy one bungalow every month, with a swimming pool thrown in.

But was Lau Yin Pin satisfied with what he was getting? Of course not. Between 2006 and 2008, he siphoned off RM3 million from Huaren Holdings, of which he was the chairman, to set up five companies, MIRC Incubator Sdn Bhd, MIRC Ingenious Technopreneur Venture Management Sdn Bhd, Byte One Technology Sdn Bhd, MIRC Ingenious Capital Partners Sdn Bhd and Xtrain Sdn Bhd. (see documents attached).

It was a perfect scam. Corroborating with Tan Sri Lau's and Ka Ting's cronies, they conned MCA of millions of ringgit. Now, these MCA-linked companies have either been sold off or are in various stages of being shut down. Anyway, IT companies are no-go for a political party. Why the hell does MCA want to invest in IT companies? The money could have been used for education or providing soft loans to businesses.

Next, is the Utar land issue in Section 13, PJ. When Tan Sri Lau was the Star chairman, he had wanted to develop the newspaper's old office (which now houses Utar University) into a commercial area. This includes a convention centre. Only God knows why MCA, Star or Utar needs a convention centre when there's already a glut in Malaysia (think KLCC, PICC, MINES, Sime Darby, etc).

When the stupid Ong Tee Keat's bagman Clement Hii took over The Star, he revised the project to house Star's radio units, Utar campus and hostels. Of course, Tan Sri Lau filpped and threw a fit of fury because he can no longer reward his cronies. So he leaked to the Sin Chew group of newspapers false news about how Clement Hii wanted to shut Utar when Tan Sri Lau was the one who wanted to fleece Star.

But then again, is anyone surprised? Tan Sri Lau has a lot of experience in land scams. In 2005, Tan Sri Lau made a false declaration to the Klang land office about a land application in Kg Perepat, Kapar, Klang. He had never stayed in that plot of land, but in so doing, had denied a poor Indian family who had been staying there of a roof over their heads. The MACC had opened up a file on this and are closing in after the Pakatan-controlled Selangor government came up with strong evidence of cheating.

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