|Chin Kwai Fatt, MD of PwC Malaysia. Till today he has not denied the fraud involving PricewaterhouseCoopers Consulting Sdn Bhd (464379-U)|
and the bogus firm and directors of PwC Consulting Sdn Bhd (289801-A), or been made to answer them.
The original estimated cost for the land purchase and development works in 2001 was RM1.957 billion... (the) project outlay has escalated to RM3.522 billion as at Dec 31, 2008.
Accompanying Lee to the press conference today was auditors PriceWaterhouse Coopers (PwC) managing director Chin Kwai Fatt and PwC partner, Lim San Pin.
The two were there to verify that the publicly released report was not tampered with and released in its entirety.
|Chin Kwai Fatt at the release of the PKFZ audit report.|
However, Lee said that PwC normally does not grant permission for their reports to be made public and thus the firm was releasing the report with three conditions:
- That the reader is not authorised to use or rely on the report to arrive at any conclusion.
- PwC has prepared the report for PKA. Their duty of care is only to PKA and PwC does not owe a duty of care to any other party.
- PwC is not obliged to respond to any queries."