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Lynas Corporation Limited Message Board

  • kbmyv kbmyv Feb 27, 2013 10:38 PM Flag

    pledge to halt lynas plant draws flak

    If the opposition thought they were going to get a free pass on their LAMP halt promise .... from NST
    --------------
    KUANTAN: Pakatan Rakyat's pledge to stop the operations of the Lynas plant in Gebeng has been described as absurd as it will involve legal and financial implications, apart from scaring investors away.

    Various parties have voiced concern over the pledge, which they say will send the wrong signal to investors. They feel investors may think that decisions on such important matters will always be influenced by politics.

    Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president Datuk Seri Lim Sing said closing the plant would not be that easy as the company could sue the government.

    "The government will have to pay compensation to the company as it has invested billions of ringgit to build the plant and employ workers.

    "Politics aside, both the company and the authorities are bound by agreements," he said when asked to comment on Pakatan's manifesto for the 13th general election.

    Among others, the opposition coalition had stressed that it would halt the operations of the Lynas Advanced Materials Plant (Lamp) in Gebeng if it were to win.

    Lim, who is also ACCCIM Pahang president, said it was not right to overturn a decision just because the new government did not like certain companies.

    "If Pakatan were to govern the country, investors will not come to Pahang as they will feel that their businesses will be subjected to flip-flop rulings.
    "You cannot say 'yes' today and later on say 'no' to investors."

    Lim hoped that politicians would not jeopardise investments and business opportunities for the sake of gaining political mileage.

    He added that the success of the Malaysia-China Kuantan Industrial Park, which is located near Lamp, proved that foreign and local investors had acknowledged that the plant was safe.

    Pahang Youth Council president Khairul Amin Osman said Pakatan should be more realistic in making pledges.

    "They should not make populist promises which they cannot deliver. The decision on Lynas was made by the government and has nothing to do with any political parties," he said, adding that local and international experts had confirmed that Lamp would not endanger people or the environment.

    He said such irresponsible pledges would affect the workers at Lamp, who are mostly locals.

    "It will turn away foreign investors and affect the country's ability to attract investments and create jobs for the people."

    Lynas Malaysia Sdn Bhd managing director Datuk Mashal Ahmad believed that Lamp should not be dragged into politics, saying the company had complied with all national and international requirements and regulations.

    "Our operations are safe for the workers, public and environment. We have strong confidence in the authorities and regulatory bodies which are monitoring Lynas, be they local or international.

    At the same time, he said, Lynas was confident that all parties would continue to respect the established rules and regulations.

    Lynas Corporation, in a statement yesterday, confirmed that Lamp has produced its first rare earth products for customers.

    On Jan 7, the company successfully commissioned cracking and leaching rare earth extraction units at the site, with the recovery rates in excess of 90 per cent of the contained rare earth oxides

    Sentiment: Hold

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