MUSIC PLAYER AT BOTTOM

OVER 130 TOP HITS AVAILABLE ON OUR MUSIC PLAYER AT THE BOTTOM. TO VIEW THE LIST - CLICK ON MENU ICON AT THE BOTTOM RIGHT ... PLAYER NOT AVAILABLE FOR MOBILE PHONE / TABLET USERS

TO GET UPDATES IN YOUR E-MAIL PLEASE SUBMIT YOUR EMAIL ADDRESS

Saturday, 10 December 2016

World Bank's blacklisting of China Communications Construction Company has no bearing on Malaysia awarding it the East Coast Rail Link contract


Rahman Dahlan: World Bank blacklist of CCCC has no bearing on ECRL






PETALING JAYA: The World Bank's blacklisting of the China Communications Construction Company (CCCC) has no bearing on Malaysia awarding it the East Coast Rail Link (ECRL) contract, said Datuk Seri Abdul Rahman Dahlan.

The Minister in the Prime Minister's Department said this is because the project is not a road or a bridge project, adding that the ECRL is not funded by the World Bank.

"Therefore the World Bank sanction does not apply to CCCC's participation in the ECRL project," Abdul Rahman said in a statement on Saturday.

Abdul Rahman was responding to reports that quoted his Dewan Negara answer on the matter, where he denied that CCCC was blacklisted by the World Bank.



He added in his statement that the CCCC Group of Companies have proven to be capable in carrying out mega projects in Malaysia, such as the Sultan Abdul Halim Muadzam Shah Bridge in Penang which was completed in 2014.

"Recently, CCCC was also awarded a RM2 billion reclamation project by a joint-venture company of the Penang State Government," he said.

He clarified that CCCC was formed from a merger between several companies including a company named the China Road and Bridge Company (CRBC).

Abdul Rahman also said that the majority owner of CCCC is the government of the People's Republic of China.

"CRBC was unilaterally adjudged by the World Bank to have irregularities in a past road construction project in a neighbouring country. As a result, the World Bank had barred CRBC from engaging in any road or bridge projects financed by the World Bank," he said.

Abdul Rahman said that a 2011 change to the World Bank sanctions system required successor organizations – through purchase or reorganization – to be subject to the same sanctions applied to the original firm.

"The successor company - CCCC - was also made ineligible to engage in any road and bridge projects financed by the World Bank Group," added Abdul Rahman.

He said that the sanction will end on Jan 12 next year.



No comments:

Post a Comment

PLEASE LEAVE A COMMENT TO WIN A PRIZE EVERY FORTNIGHT

Related Posts Plugin for WordPress, Blogger...

TWITTER POSTS

Popular Posts - Last 7 days

Popular Posts - Last 30 days

Popular Posts - All Time

STORY SOURCE

The best stories & news from The Star Online, NST, Malaysian Digest, Asiaone, Beautifulnara, Rotikaya, Ohbulan, TheMalayMailOnline, Siakap Keli, Malaysian Insider, Free Malaysia Today and Yahoo are shared in this BLOG bestfbkl.blogspot.com

This Blog claims no credit for any images or stories on this site unless otherwise posted.

Post and Images on this blog are copyright to its respectful owners.

If there is a post or image appearing on this blog that belongs to you and do not wish for it to appear on this site, please email with a link to the said image, it will be promptly removed.

Google+ Followers