JPMorgan CEO warns he will fire any employee trading Bitcoin for being “stupid.”


 
Tough stand: Dimon has warned that he will fire JPMorgan traders who traded in bitcoin ‘in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.’ — AFP

NEW YORK: JPMorgan Chase & Co chief executive officer Jamie Dimon said he will fire any employee trading bitcoin for being “stupid.”

The cryptocurrency “won’t end well,” he told an investor conference in New York on Tuesday, predicting it will eventually blow up. “It’s a fraud” and “worse than tulip bulbs.”

If a JPMorgan trader began trading in bitcoin, he said: “I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.”

Bitcoin has soared in recent months, spurred by greater acceptance of the blockchain technology that underpins the exchange method and optimism that faster transaction times will encourage broader use of the cryptocurrency.

Prices have climbed more than four-fold this year – a run that has drawn debate over whether that’s a bubble.

Bitcoin initially slipped after Dimon’s remarks. It was down as much as 2.7% before recovering.

Last week, it slumped after reports that China plans to ban trading of virtual currencies on domestic exchanges, dealing another blow to the US$150bil cryptocurrency market.

Tulips are a reference to the mania that swept Holland in the 17th century, with speculators driving up prices of virtually worthless tulip bulbs to exorbitant levels.

That didn’t end well.

In bitcoin’s case, Dimon said he’s sceptical authorities will allow a currency to exist without state oversight, especially if something goes wrong.

“Someone’s going to get killed and then the government’s going to come down,” he said.

“You just saw in China, governments like to control their money supply.”

Dimon differentiated between the bitcoin currency and the underlying blockchain technology, which he said can be useful.

Still, he said banks’ application of blockchain “won’t be overnight.”

The bank chief said he wouldn’t short bitcoin because there’s no telling how high it will go before it collapses.

The best argument he’s heard, he said, is that it can be useful to people in places with no other options – so long as the supply of coins doesn’t surge.

“If you were in Venezuela or Ecuador or North Korea or a bunch of parts like that, or if you were a drug dealer, a murderer, stuff like that, you are better off doing it in bitcoin than US dollars,” he said.

“So there may be a market for that, but it’d be a limited market.”— Bloomberg

 

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Living at the edge of chaos, climate change is not fake science


 

Nature’s fury: A car dealership is covered by Hurricane Harvey floodwaters near Houston, Texas. The chaos caused by the hurricane proves that climate change is not fake science. — Reuters

THIS month, two Category 4 hurricanes hit the United States within 17 days of each other. In Asia, North Korea is threatening nuclear Armageddon, and floods and famine are putting thousands of lives at risk from Bangladesh to Yemen. How can one survive in this chaotic era?

A first step must be to make sense of the apparent chaos. Hurricanes Harvey and Irma have proved that climate change is not fake science, but real threats to home and security. When hailstones the size of golf balls hit Istanbul in the middle of summer, even the agnostics accept that climate change is serious business.

The biggest uncertainty that has hit Asia recently is the shock that North Korea has not only developed possibly a hydrogen bomb, but also the missile capability to deliver it even to the United States. This has changed the geopolitical balance not only in North Asia, but globally because it is no longer possible for the United States alone to contain nuclear proliferation.

Physics teaches us that chaos is often a characteristic of transition from one order to another. Chaos is also a pattern in which there is apparently no discernible pattern.

But there is a seismic transition from a unipolar world led by the United States to a multi-polar world of competing powers and ideology, particularly after the 2007 global financial crisis. As the share of US GDP in the world declines relative to the rest, the rise of China, India and increasing assertion by Russia and non-state players like IS means that the United States’ ability to dominate militarily and ideologically is being challenged.

At the same time, increasing stresses from social inequalities and paranoia of terror, immigration and job loss have tilted the United States to become more inward looking. The Trump administration has dramatically begun to dismantle the neoliberal order of multilateral trade and finance that shaped US foreign policy since the end of the Second World War.

There is a raw open division within the United States in outlook and values. The Democratic Left believes in maintaining the old order of moral leadership on human rights, democracy and multilateral global stability and prosperity. The Republican Right questions these beliefs and prefers America First, negotiating bilaterally to achieve that premier status.

Earlier this year, the Pentagon asked the Rand Corporation to conduct a review on “Alternative Options for US Policy toward the International Order”. The key questions for the New Global Order are: Who sets the rules and how binding are the rules?

The study breaks the future order into two camps of rule-makers – the US and its allies or a concert of great powers. Under such a division, there are two conditions where rules are binding – one dominated by the US camp to enforce rules and the other where the great powers agree to a global constitutional order enforced by institutions. The other two conditions where rules are not binding involve a coalition of states aligned to counteract against revisionism and a new concert of great powers.

The immediate problem with the Rand categorisation of New Order Visions is that the existing liberal, rules-based order is not being challenged by others, but by the US itself.

First, after German Chancellor Angela Merkel’s comment earlier this year that Europe must begin to look after its own interests, it is no longer clear that America’s traditional allies are going to follow the US leadership when there are serious disagreements on trade, climate change and immigration. It is no coincidence that the largest trade imbalances are no longer between China or oil producers with the US, but between Europe and the United States. Germany alone is running a current account surplus equivalent to around 8% of GDP.

Second, within the Middle East, alliances are shifting almost by the day. The quarrel between Saudi Arabia and Qatar has riven the Gulf Cooperation Council, while Turkey is playing an increasingly pivotal role within the shifting alliances.

Third, North Korea’s bid for nuclear power membership, despite being a small state, means that Great Powers may have to accommodate new players whether they like it or not.

Fourth, climate change in the form of Hurricanes Harvey and Irma demonstrate that nature can impose larger and larger economic losses on nations and regions, which will require global public goods that the current order is neither willing to fund, nor able to agree on how to address. The economic losses from Harvey alone is estimated at US$180bil, equivalent to the annual GDP of a middle-income economy. The existing multilateral bodies such as the United Nations and the World Bank are facing serious resource shortages relative to these new global demands.

The bottom line is that the current order has neither the resources nor the collective will to enforce rules when the human population growth puts increasing competition for scarce water, food and territorial spaces. Chaos arises from the breakdown of rules and borderlines.

In short, globalisation of trade, information and human migration has meant that traditional borders in many regions are becoming non-enforceable. For example, it is 101 years since the 1916 Sykes-Picot Agreement divided up the collapsing Ottoman Empire into British, French and Russian spheres of interest and eventual control. These borders were drawn and enforced by the Great Powers through their military superiority.

Seen from the long lens of history, with the Great Powers being unwilling to put troops on the ground to enforce borders drawn up under the colonial era, these artificial borders are failing.

A hallmark of the times is that even the best of think tanks cannot map out how to navigate through this era of disruptive technology, unpredictable climate and shifting alliances and interests. What history teaches us is that the fault lines will be at the borderlands, at the confluence of emerging forces and stresses.

We should therefore be prepared for not only disruption at the borderlands of physical space, but within the realms of cyberspace.

By Andrew Sheng

Tan Sri Andrew Sheng writes on global issues from an Asian perspective.

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RM40mil siphoned off from the Malaysian Human Resources, Skills Development Fund Corp !



PETALING JAYA: Some RM40mil from the Skills Development Fund Corp is believed to have been siphoned off by those tasked with utilising it for the benefit of the people, sources revealed.

Anti-graft officers detained the cor­­­poration’s 58-year-old chief execu­­tive, who is a Datuk, over the alleged misappropriation of funds.

Others detained included the corporation’s 34-year-old secretary, a 32-year-old assistant financial officer and a 38-year-old director of a company who goes by the honorific “Dr” title.

All of them were picked up in seve­ral places in Kuala Lumpur between 4.30pm and 6pm yesterday.

One of the suspects is said to be an office-bearer with a state Umno division.

Malaysian Anti-Corruption Com­mission deputy chief commissioner (operations) Datuk Azam Baki confirmed the arrests.

Sources said the suspects were said to have collaborated with the company director to siphon the allocation provided by the Government.

The corporation is a statutory body under the Human Resources Mi­nistry. It is responsible for provi­ding financial assistance in the form of loans to individuals, such as school­-­leavers, graduates and others who are interested in pursuing Ma­­laysian Skills Certification, Malaysian Skills Diploma and Malaysian Ad­­van­ced Skills Diploma at public or private skills training institutions.

It is learnt that the misappropriation of funds has been going on since last year.

In 2016, the Government allocated RM35mil to the corporation and another RM40mil this year to carry out training programmes.

“Initial investigations showed RM15mil was believed to have been siphoned off last year. Another RM25mil is believed to have been misappropriated this year,” said a source.

It is learnt that three of the suspects had also collaborated with the company director to allow 15 of his registered companies to manage the training programmes.

But none of his companies was said to have been equipped with the expertise to conduct such training.

Azam said the MACC would be calling up several witnesses “very soon and that more arrests could be expected”.

“We will carry out a thorough probe as it involves public funds. Our officers will also be sei­zing relevant documents related to the case,” he said.

Source: By Simon Khoo The Star

‘Reward them to curb graft’ – It is not wrong to give cash to whistleblowers, says MACC chief

Video:
//players.brightcove.net/4405352761001/default_default/index.html?videoId=5574722710001

KUALA LUMPUR: Rewarding civil servants with cash for exposing corruption is not wrong but it should not be the sole focus, says Tan Sri Dzulkifli Ahmad.

The Malaysian Anti-Corruption Com­mis­sion (MACC) chief commissioner pointed out that offering cash incentives to whistleblowers was just one of the many initiatives in tackling corruption.

“There are many more activities and campaigns done by us which should be taken into account. Is it wrong for us to reward those who refuse to accept a bribe? We are showing our appreciation to those who choose to remain clean, and we look up to these people,” he said after launching the MACC’s anti-corruption posters and painted messages on three Mara Liner buses at Terminal Bersepadu Selatan yesterday.

Civil servants who report cases of corruption are entitled to receive an incentive equal to the amount offered in the bribes, with the lowest sum set at RM500.

However, of the 1.6 million civil servants, only 0.01% have reported cases so far.

In acknowledging this, Dzulkifli said it should not be equated to many civil servants on the take or that they were not serious about eradicating corruption.

“As a matter of fact, we do have a number of them coming directly to provide information but they do not want to lodge an official report.

“Some refuse the bribes offered to them but choose to just tip us off without eyeing a reward,” he said.

On another matter, Dzulkifli opined that “sharks” were now fearful of the MACC due to the “aggressive action” against offenders.

“Clearly, we managed to instil a sense of fear. Many people I meet say they can see fewer giving or taking bribes.

“We see this as a positive sign. We will continue with new arrests, probes and charges every week,” he said.

Later in Putrajaya, Dzulkifli said they would wage a war against illegal gambling den operators and put a stop to their illegal business.

He said the time had come for the issue to be looked into seriously and aggressively, including licensed outlets and cybercafes which al­­lowed online gambling in their premises.

“The issue of gambling dens operating illegally is not new. In fact, even the Deputy Prime Minis­ter has spoken about it. But we don’t see the number of these outlets decreasing.

“I think it is about time we take aggressive action against the operators and those who protect them,” he said after a dialogue with NGO Fight Against Illegal Activities Movement or GBAH.- The Star

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Behind BJ Cove houses at Lintang Bukit
Jambul 1 is an IJM Trehaus Project.  Approximate Coordinates :
5°20’38.47″N,100°16’…

Graft destroys nature as Corrupt officers see no evil as environment is being ravaged


Humans Are Destroying the Environment

PETALING JAYA: They are supposed to be guardians of the environment, and yet “certain enforcement officers” are found to be tolerating illegal activities that are detrimental to nature – all for personal gain.

Pollution and unauthorised felling of trees, for instance, could be traced to those working in cahoots with the culprits, according to sources.

Several recent cases such as the illegal bauxite mining in Kuantan, flash floods in Cameron Highlands and the illegal sawdust factory in Kampung Sungai Lembu, Penanti, Butterworth, were all linked to abuse of power and corruption.

“Some of them are more inclined to soliciting and receiving monetary gains in lieu of their responsibilities in protecting the natural surroundings.

“As a result, it has created greater problems to the fragile environment at the expense of future generations,” said a source.

The source added that stern action needed to be meted out against these irresponsible officers in order to put a stop to the wanton destruction.

If nothing was done, it could lead to adverse effects to the people in terms of public health and safety, the source said.

“All enforcement agencies tasked to preserve the environment must be serious in discharging their duties diligently.

“In this regard, the Malaysian Anti-Corruption Commission (MACC) has done its part to send out a stern warning with numerous arrests and prosecutions in court,” the source said.

Over the past few months, scores of enforcement officers including those from the Customs, Land Office and local councils were nabbed on suspicion of receiving bribes to turn a blind eye on illegal activities detrimental to the environment.

The MACC also held several dialogues with NGOs and environmental groups through an Environmental Protection and Anti-Corruption Caucus to share information on corruption issues.

With this strategic collaboration, illegal activities such as illegal logging, river pollution and clearing of land could be prevented from recurring.

By Simon Khoo The Star/Asian News Network

Authorities fighting an uphill battle against ‘rape of hills’

PETALING JAYA: The authorities are waging an endless war against illegal loggers, with some enforcement officers even labelling the wanton destruction of trees as “raping the hills”.

Cases of such destructive activities in recent years include uncontrolled logging and illegal farming in Cameron Highlands, which polluted several rivers.

In April this year, a former Terengganu Forestry Department director was charged with accepting RM60,000 from a timber contractor four years ago as an inducement to approve a logging application for Hulu Terengganu Forest Reserve.

Two men were detained in the Bukit Bauk Forest Reserve in Dungun in November last year for removing evidence of illegal logging during an ambush by the Forestry Department. Some 400 tonnes of logs were reportedly seized.

In August last year, a Datuk Seri and two others were arrested in connection with illegal logging in the Cerul forest reserve in Terengganu. They produced a letter from a “high-ranking officer” to evade arrest but failed.

In Pahang, 11 people were detained by the Forestry Department for trespassing into forest reserves with the intent to steal high-value timber.

The Auditor-General’s Report 2015 highlighted illegal logging and encroachment in Perak forest reserves and said it was due to the lack of monitoring and effective enforcement by the Perak Forestry Department.

Logging in Kelantan has also come under scrutiny following allegations of illegal and uncontrolled logging being a possible cause of the 2014 floods in Kuala Krai.

In 2013, Kelantan-based NGO Young People against Corruption (Ombak) discovered rampant land clearing and wanton destruction of virgin forests in Kuala Krai and Gua Musang, affecting at least five hills stretching from the Pahang-Kelantan and Kelantan-Perak borders.

Ombak president Wan Khairul Ihsan Wan Muhammad described the destruction as the “rape of the forested hills”, adding that the activities were stealthily done in the middle of forest reserves to avoid detection.

Anti-graft officers out to stop illegal timber business

PETALING JAYA: Illegal logging, which has cost the country billions of ringgit in losses in taxes and revenue, is the latest target of the Malaysian Anti-Corruption Commission (MACC).

Remote area: A file picture of a suspected illegal logging site in Bakun, Sarawak, that was raided by the MACC.

Anti-graft officers will be focusing on this issue after tackling illegal land clearing, bauxite mining and unlicensed factories.

It is learnt that incidents of illegal logging are “quite rampant and extensive”, causing a lot of destruction to the nation’s fragile eco-system and environment.

Some of the illegal activities are believed to be taking place deep in the jungle, including forest reserves and catchment areas, hidden from public view.

The problem is made worse when some enforcement officers tasked with taking action against illegal loggers are believed to have turned a blind eye and worked in cahoots with illegal loggers.

In return, the officers are said to be promised a certain percentage from profits from the illegal activities every month, paying no heed to the destruction of the country’s forests.

It is learnt that these unethical officers are raking in tens of thousand of ringgit every month as kickback and side income to finance their lavish lifestyle.

MACC deputy chief commissioner (operations) Datuk Azam Baki said such illegal activities must be nipped in the bud before they cause irreparable damage.

“We have received very reliable information from the public on illegal logging.

“It is not just in one particular area, but in several states throughout the country, including Sabah and Sarawak.

“We have set up a few flying squads and they are now collecting evidence on the ground,” he said when contacted yesterday.

He said illegal logging has caused serious pollution, while natural disasters, such as flash floods and landslides could occur more rapidly, endangering the lives of the people.

Azam said the main focus of investigations will be on elements of corruption and abuse of power involving several enforcement agencies, their officers and logging companies.

“Once we have gathered all the necessary evidence, a sting operation will be launched to nab the culprits,” he added.

He said MACC would be moving into several states “very soon”, adding that “we are pretty serious in tackling this issue”.

He welcomed tip-offs from the people to assist in putting a stop to illegal logging and other activities detrimental to the environment.

“We will also work closely with NGOs and environmental groups to collect information,” he added.

In November 2014, the then Sarawak chief minister Tan Sri Adenan Satem declared war on illegal logging, saying Sarawakians must not tolerate corruption anymore because millions in revenue had been lost.

The state, he said, had gained a bad reputation internationally because of “this robbery which is carried out in broad daylight”.

The MACC swung into action with a massive crackdown dubbed Ops Gergaji the following year, and together with several agencies, some 400 bank accounts belonging to companies and individuals with about RM600mil were frozen.

About RM1mil worth of illegally felled logs were also seized.

By Simon Khoo The Star/ANN
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IJM hill clearing & Trehaus construction damaged nearby houses since 2014 must be mitigated quickly!


Behind BJ Cove houses at Lintang Bukit Jambul 1 is an IJM Trehaus Project.
Approximate Coordinates : 5°20’38.47″N,100°16’52.82″E
Reported  in August 2016. Photos taken in November 2016 and 2014 by Penang Forum
PHW Report

Click to see Video/images: https://hillclearinginpenang.ushahidi.io/views/map

https://hillclearinginpenang.ushahidi.io/views/map

Sources: Penang Hills Watch (PHW) | Penang Forum

Hill clearing activity by IJM Trehaus Project


Clearing and construction for a condo and semi-detached housing project, Trehaus, reported in http://anilnetto.com/ 26 Aug 2016. Photo taken in 2014 …

Behind BJ Cove houses at Lintang Bukit Jambul 1 is an IJM Trehaus Project.

IJM Hill Clearing 2014

Two invalid pipe culverts formed sinkholes at BJ Cove houses

The following plan clearly shows an underground pipe culvert from the IJM Trehaus site that converged  directly, vertically at BJ Cove houses from another underground  pipe culvert at nearby pond were burst, caused house cracks, floods, formed sinkholes (by two pipe culverts converged in red) and damaged  to  BJ Cove houses in 2015 due to blockages of waters whenever rains and because of lack of drainage systems.  The sinkhole was caused by soil erosion due to waters under the ground.Therefore, damages to houses were caused by severe soil erosion due to water movement under the road and buildings.

Underground Pipe Culverts from IJM Trehaus site on the left and nearby pond on the right

The following is an underground pipe culvert from the IJM Trehaus site behind BJ Cove houses at Lintang Bukit Jambul 1:

IJM constructing an underground pipe Culvert in 2014 to BJ Cove Houses

IJM constructing an underground pipe Culvert in to BJ Cove Houses

IJM Underground Pipe Culvert to BJ Cove Houses

IJM Underground Pipe Culvert to BJ Cove Houses
Waters gushing down from IJM Trehaus site to BJ Cove houses:
Waters flow from IJM Trehaus to BJ Cove houses

 

Waters gushing down from IJM Trehaus site to BJ Cove houses

Waters from IJM site stucked at behind BJ Cove houses

The nearby pond besides IJM Trehaus site:

Serious Drainage Issues

The Department of Irrigation and Drainage (DID or JPS) has just started
constructing the drain from the pond to divert the waters:
A drain under construction by JPS to divert waters from the nearby pond but show no sign to divert waters from IJM Site
Drain water flow under construction by JPS to divert waters from the nearby pond
We are concerned as to how IJM is going to resolve the pipe culvert from their side as JPS has confirmed IJM failure to comply with sediment control plan (ESCP).

Letters fromThe Department of Irrigation and Drainage (DID or JPS)

Clearly, the underground pipe culverts leaked and waters seeped through the
cracks as it did not happen immediately but over a period of time!

Despite the underground pipe culverts declared invalid by JPS and the Penang City Council’s (Majlis Perbandaran Pulau Pinang, i.e. MBPP) has issued stop work orders directing the developers, Worldwide Venture Sdn Bhd, a subsidiary of IJM Land to rectify the damages within 1 and 2 weeks time since 2015 (as per the attached letters below), multiple wall cracks, slabs collapsed, PBA water pipes burst, leakage charges, damaging ceiling, electrical DB board, and tiles fallen, broken/popped up,  are still pending settlement and remedial works to be carried out by parties responsible for the damages since 2014 !!

Letters from Penang City Council’s (Majlis Perbandaran Pulau Pinang)

Letters from Developers: Worldwide Venture Sdn Bhd, an subsidiary of IJM Land:
 

 

 Damaged houses

 Damages appeared after IJM began construction works in 2014, like hill clearing, rock-blasting, piling and digging culvert at Trehaus site. As a result, waters seepage through multiple cracks on the ground, walls, tiles fallen from roofs and popped up from the ground due to vibration from rock-blasting and piling for the building.

 Pictures showing floods, sinkholes at Lintang Bukit Jambul 1, 11900 Penang,  damaged to BJ Cove houses, cracks, waters leakages seeped through the cracks, slabs collapsed, ceilings & tiles broken & fallen, electrical DB board explosion, etc caused by severe soil erosion due to water movement under the road and buildings. The underground pipe leaked and waters seeped through the cracks!

Sinkhole at BJ Cove house no. 20
IJM converted the sinkhole into a manhole waters from their underground pipe culvert at Trehaus
Sinkhole at house 20 is covered up by IJM’s underground pipe culvert from  IJM Trehaus
IJM converting the sinkhole at BJ Cove no. 20

We demand immediate enforcement & Actions, Truth be told:

 

1. The parties responsible must quickly without further delays, to settle the claims and start the remedial works to the damaged houses without condition, as both JPS has declared underground pipe culverts invalid and BPP has  issued stop work orders directed the developers, Worldwide Venture Sdn Bhd, a subsidiary of IJM Land to rectify the damages  ithin 1 and 2 weeks time since 2015!

2. Enforce IJM’s & MBPP’ Letters/Stop-work Orders (above attacked), and divert waters from the two invalid underground pipe  culverts deemed illegal at the IJM Trehaus site and nearby ponds which must be closed and grouted as a long term solution to the problems.

3. Beef up the enforcement and accountability not just in government agencies but also in professional bodies, like the Board Of Engineers Malaysia (BEM),  the Institute of Engineers Malaysia (IEM), etc to  uphold the professional ethics, integrity and standards, to ensure public safety of the buildings and people life.

Findings from Penang Forum 

Dr Kam, a scientist, focused on expansion of impermeable surface area (caused by ill­ planned development and replacing natural ground cover such as hills, fields and trees that act as a water ­absorbing sponge) and soil erosion and landslides (caused by cutting and development in hill areas) as two factors that need special attention.

She quoted Datuk Kam U Tee, the Penang Water Authority general manager (1973~­90), as having correctly explained the Penang floods of October 2008, as follows: the floods were caused by conversion of the Paya Terubong and Bayan Baru valleys into “concrete aprons that do not retain water. The water immediately flows into streams causing flash floods even with moderate rainfall. Because of hill­cutting activities, the flowing water causes erosion of the slopes which carries mud and silt into the river beds”. ( The Star, Oct 24, 2008).

See more.. Penang floods and landslides, looking beyound natural causes!

Credits – Slides presented by Environmental, health and safety consultant Aziz Noor, and scientist Dr Kam Suan Pheng at the Penang Forum event on Oct 29, 2017

Practise true CAT for Sustainable Development

  • Penang government must provide a COMPETENT flood mitigation plan for the state starting with a comprehensive Drainage Master Plan Study and not slogan.

  • The Penang government has to be ACCOUNTABLE to the people and not private developers. In other words, ‘Politicians should be ‘wakil rakyat’ and not ‘wakil pemaju’. If certain waterways and catchment areas have to be gazetted as permanent drainage and storage areas, then so be it.

  • The safety and well-being of the Rakyat has to come first.  In the interest of  TRANSPARENCY, Penang has to launch an inquiry into how the local council approved property developments on slopes without adequate slope protection.

 See more …

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Getting titles right in the engineering field in Malaysia

 

Rage against hill road plan: We don’t want that road, says Penang residents


Long and winding road: This satellite picture from Google Earth Pro shows five planned interchanges of the Teluk Bahang-Tanjung Bungah paired road. The road starts at (1) Lembah Permai corner near Sri Vazhikattum Muniswarar shrine. The three interchanges in the middle are (2) at Jalan Sungai Emas, (3) at Persiaran Sungai Permai and (4) near Chin Farm Waterfall. The road ends (5) about 200m from the Teluk Bahang roundabout near the Toy Museum.

 

GEORGE TOWN: Alarm bells rang among Tanjung Bungah residents after they realised the proposed new road from Teluk Bahang to their neighbourhood entails de- forestation and construction on slopes with gradients steeper than 25 degrees.

They want the project scrapped and demand that the state government think of alternatives.

Through the Tanjung Bungah Residents Association (TBRA), 400 of them signed a petition against the project known as North Coastal Paired Road (NCPR).

TBRA chairman Meenakshi Raman said the environmental impact assessment (EIA) report showed that 3.34ha of gazetted forest reserves would be cleared for the road.

“Tracts of the Teluk Bahang Forest Reserve and Bukit Kerajaan Forest Reserve will be deforested. How can this be allowed?

“These reserves are gazetted as water catchment areas too,” she said in a press conference at the Tanjung Bungah market yesterday.

She said the EIA report revealed that 46% of the proposed road would be on slopes with gradients higher than 25 degrees.

“The EIA is clear that slope instability risks will be high. Mitigation measures are suggested but haven’t we learned enough about Penang’s development? Landslides occur often here,” she said.

The residents urged the Depart-ment of Environment (DoE) in writing not to approve the EIA. A copy of the letter was forwarded to Chief Minister Lim Guan Eng on Aug 21.

The NCPR is a 10.53km four-lane road from near SK Teluk Bahang until the L-shaped bend of Lembah Permai at Sri Vazhikattum Munis-warar shrine.

This is part of the Penang Transport Master Plan (PTMP) and is under the purview of Consortium Zenith Construction.

It is one of three new roads planned as the traffic dispersal system of the Penang Undersea Tunnel project.

Residents are also confounded by the cost.

Meenakshi said that in 2011, the estimated construction and land acquisition cost of the NCPR was expected at RM1bil.

She said the EIA stated that at an average speed of 70kph, motorists would save 14 minutes of travel time compared with the current coastal road.

“Spending such a huge amount to save 14 minutes is a colossal waste of public resources,” she added.

She felt that the EIA should have included a cost-to-benefit analysis.

“For RM1bil, can’t we think of other alternatives to the traffic problem?”

In response, state exco member Lim Hock Seng clarified that the clearing of the forest reserves was studied in the EIA as a requirement but the state was planning to avoid forest clearing.

“The first phase of NCPR is from Batu Ferringhi to Tanjung Bungah. That is the most urgent.

“The Teluk Bahang stretch, where the forest reserves are, won’t be built so soon.

“We do plan to continue examining alternatives to avoid deforestation.”

Lim said the main road in Batu Ferringhi could not “take it anymore during the holiday season” and the NCPR was vital to relieve traffic jams in the area.

Also, he said SRS Consortium, the state’s PTMP project delivery partner, was planning a viaduct from Lembah Permai to Seri Tanjung Pinang.

“So we are not dumping traffic or leaving a bottleneck at the Vale of Tempe Road with the NCPR.

“Motorists can choose between the winding coastal road or the NCPR depending on where they are going.

“This project will help reduce traffic,” he said.

Meenakshi also expressed shock that the EIA stated that NCPR would have 10 proposed interchanges.

But Lim and also Consortium Zenith chairman Datuk Zarul Ahmad Mohd Zulkifli said there would be only three interchanges in the middle of the road.

“They will be between Teluk Bahang and Tanjung Bungah, in Jalan Sungai Emas, Persiaran Sungai Permai and near Chin Farm Waterfall,” said Zarul Ahmad.

Penang Water Supply Corporation chief executive officer Datuk Jaseni Maidinsa gave an assurance that the NCPR’s route would not affect water catchment because the road would be downhill of Teluk Bahang Dam or any other reservoir.

Source: The Star by Arnold Loh

Call to scrap proposed road



Troubled spot: Aerial view of Jalan Lembah Permai in Tanjung Bungah, where the North Coastal Paired Road from Teluk Bahang will end in the L-shaped bend of the road. 

GEORGE TOWN: Tanjung Bungah residents want the proposed new road from Teluk Bahang to their neighbourhood scrapped after realising it entails deforestation and construction on slopes with gradients steeper than 25 degree.

Through the Tanjung Bungah Residents Association (TBRA), 400 of them signed a petition against the North Coastal Paired Road (NCPR).

TBRA chairman Meenakshi Raman said the environmental impact assessment (EIA) showed that 3.34ha of gazetted forest reserve will be cleared for the road.

“Tracts of the Teluk Bahang Forest Reserve and Bukit Kerajaan Forest Reserve will be deforested. How can this be allowed?” Meenakshi said during a press conference at the Tanjung Bungah market yesterday.

She said the EIA revealed that 46% of the proposed road would be on slopes with gradients higher than 25 degrees.

“The EIA is clear that slope instability risks will be high. Mitigation measures are suggested, but haven’t we learnt enough about Penang’s development? The island is sensitive to landslides,” she said.

The residents urged the Department of Environment (DoE) in writing not to approve the EIA. A copy of the letter was also forwarded to Chief Minister Lim Guan Eng on Aug 21.

The NCPR is a 10.53km four-lane road that is part of the Penang Transport Master Plan and is under the purview of Consortium Zenith Construction. It is part of the traffic dispersal system of the Penang Undersea Tunnel project.

The residents are also confounded by the cost. Meenakshi said in 2011, the estimated construction cost and land acquisition cost of the NCPR was RM1bil.

She felt the EIA should have included a cost-to-benefit analysis and “for RM1bil, can’t we think of other alternatives to the traffic problem?”

In response, state exco member Lim Hock Seng clarified that the clearing of the forest reserves was studied in the EIA as a requirement, but the state is planning to avoid it.

“The first phase of NCPR is from Batu Ferringhi to Tanjung Bungah. The Teluk Bahang stretch, where the forest reserves are, won’t happen so soon.

“Although it is studied in the EIA, we do plan to continue examining alternatives and avoid deforestation,” said Lim. – The Star

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