Dr Sim surprised by illogical argument of DAP
Local Government and Housing Minister Datuk Dr Sim Kui Hian has accused DAP of misleading Sarawakians into believing that the state government should not have acquired Bakun Hydroelectric Project (HEP) dam for over RM8 billion when its net book value was only RM1.6 billion.
Expressing his disappointment at the statement made by DAP, who said that the net book value of Bakun HEP was so low without taking into account the total value of the assets, Sim said the company’s book value may be low but the value of the assets is high
Bakun HEP dam, said Sim was built in 1994 at a price of US$2.4 billion and it would definitely cost a lot more than what the state government had paid if it were to build another HEP dam now.
He pointed out that to build a new Bakun, it will take at least five years. “When you buy over this (Bakun), straight away you got money coming in. That is why the opposition always mislead by telling people. As if you can build Bakun at RM1.65 billion and never tell the people that to build Bakun, it will take at least five years.”
The State government bought over Bakun as they are strong politically and financially.
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