Parti Cinta Malaysia vice-president Huan Cheng Huan has submitted "additional" documents on the proposed undersea tunnel to link the island with Butterworth.

Huan said for years the Penang government has positioned this tunnel project as a joint venture between China and Malaysia.

He said that in March 2013, the Penang government tried to allay concerns that the company awarded the RM6.34 million contract to build the tunnel was only a RM2 company and may not have the financial strength to complete the project.

The Penang government had issued a statement then, saying that the combined shareholders of Consortium Zenith-BUCG (CZBUCG) had a paid up capital of RM4 billion.

The company's shareholders are a joint venture between Zenith and China Rail Group (70 percent); Beijing Urban Construction Group (10 percent); Sri Tinggi (10 percent) and Juteras Sdn Bhd (10 percent).

However, Huan said today, the current shareholder structure is Zenith (no longer with China Rail Group) holding 99.13 percent of the shares, with Beijing Urban Construction Group having 0.0057 percent and Juteras Sdn Bhd, 0.863 percent.

"However, the reality is that three years later, and after hundreds of millions of ringgit spent on doing studies and billions of ringgit worth of Penang state land sold or presold to third party companies by CZBUCG, the latest company reports show that the current paid-up capital is still only RM1.75 million," Huan told reporters outside the MACC building in George Town.

"Not only BUCG has such a tiny 0.0057 percent stake but the China Rail Group seems to be completely missing as a shareholder," Huan added.

RM305 million feasibility study done

Huan expressed concern on this, since the Penang government had previously said that the RM305 million feasibility study and detailed design reports are nearly done and construction of the undersea tunnel would begin soon.

He said the current shareholder structure of the company apprears to be very different from the Request For Proposal (RFP) and what the Penang government had claimed earlier.

"It is clear that the Penang government should explain if this is a breach of the agreed terms of the RFP and why," Huan said.

"We would also like the Chinese ambassador to explain what has happened to the company (China Rail Group) amd why is it completely missing from the shareholders structure," Huan added.

When Huan submitted documents on the undersea tunnel to the MACC last week, Penang state executive councillor Lim Hock Seng requested the former Batu Kawan MP to visit his office.

Lim had reportedly said he would try to explain away Huan's confusion over the tunnel project.

"I understand he is just doing his job to defend the DAP government's scandal but explaining to me directly will not help," Huan said.

"It is not me alone that they have to convince but the Penang people," Huan added.