Sunday, 15 May 2011

Barisan Nasional Pelindung Kepentingan Lynas-Bukti dan Fakta

The BN government has no intention to scrap this LAMP project of Lynas.  I am saddened with some documents that I found from the archives backdated few years back.  The documents clearly stipulates that not only MITI, but the state of Pahang and the Kuantan municipility had given complete endorsement of this project and the tax waiver given to Lynas is also properly documented.  Lynas lost control of AMR Technologies and I had highlighted this in my previous write-up.  Lynas shares plummeted recently and the last thing they need is for the LAMP to be scrapped.  They cant reverse all the contracts that they had duly signed with their clients.  Also mentioned in the document that I obtained is that there is a site in China that Lynas is keeping in KIV mode just in-case this LAMP in Malaysia does not materialise but the saddening part for Lynas is that the Chinese government had imposed restrictions on exports of rare earth especially to Japan due to some territorial dispute between those two governments. To add salt to the wound, Japan is Lynas's largest client and financier for this LAMP thus Lynas would have to protect the interest of their Japanese clients and financiers.

Also, Lynas is believed to have under-declared the actual content of Thorium in the ore mined at Mount Weld to simplify the process of obtaining export approval from the Australian authorities without hassle.  If they declare the true value of Thorium contained in the ore, then they might have to go through a hectic process to obtain export approval and the shipment would be considered as dangerous cargo during sailing to Kuantan. 

Another factor is that, the Australian Green Party has a very strong grip on environmental issues and for Lynas to have their LAMP built in Australia is like constructing a house on a graveyard.  Only the Malaysian government is stupid enough to give not only the approval for the construction of the LAMP but also "Pioneer Status" to Lynas as a pioneer investor that automatically enjoys tax rebate and special treatment.  It is like welcoming them with our Malaysian warmth and pleasant courtship without even having a tiny bit of self-esteem to save-guard the people of Malaysia.  BN, you guys are marvelous, as marvelous as "Penyamun Tarbus".  I will reveal the documents in my blog.

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