Developer confirms bought Bayan Mutiara land in open tender

Abdul Rahman was challenged to put his career upon the line over his allegations upon the Bayan Mutiara sale. File pic

KUALA LUMPUR, February 18 Ivory Properties Group Bhd (IPGB) came out currently to dispel claims which it had purchased budding state-owned land in Penangs Bayan Mutiara for next marketplace rate as good as but an open tender.

The public-listed skill development organisation spoken in the matter here which it had paid for the land upon rising the top bidder in an open as good as rival proposal called by the Penang government, which closed upon Dec 31, 2010.

Upon winning its bid, the 41.5ha block of skill was purchased for RM240 per block feet (psf) or the total of RM1.072 billion, IPGB said.

The organisation combined which in its original bid, it had sought to squeeze the land during the same RM240 rate but to be paid for over 8 years.

Lim pronounced he was ready to quit governing body for great if his accusers could infer their claims.

In awarding the proposal to IPGB as the top bidder in 2011, the state supervision imposed an additional requirement of shortening the term of remuneration from the original 8 years to five years.

This was agreed to by IPGB as good as all necessary announcements were lodged with Bursa Malaysia, it pronounced in the statement.

According to IPGB authority as good as organisation chief senior manager officer Datuk Low Eng Hock, the organisation has to date paid the deposit of RM22.1 million for the land.

The residue will be paid according to the scheduled swell remuneration after IPGBs shareholders approval during the extraordinary general meeting, which is scheduled upon March 5, 2012, he added.

IPGBs matter currently comes among accusations by multiform Umno leaders, together with Sabah MP Dat! uk Abdul Rahman Dahalan as good as Penang Umno authority Datuk Zainal Abidin Osman, which the Penang supervision sole the budding real estate during the 50 per cent bonus to private developers.

According to their allegations, the 41.5ha plot in question was actually value RM420 psf, good on top of the RM240 psf it was sole at.

Penang Chief Minister Lim Guan Eng has, however, regularly refuted this, as good as instead challenged to dual Umno leaders to furnish proof of their claims.

He combined yesterday which he was even peaceful to retire from governing body if the twin could infer which the land sale was not finished by open rival tender.

If Datuk Zainal Abidin Osman as good as Datuk Abdul Rahman fail to infer which there was no open rival tender, would they afterwards dare to accept my challenge to retire from politics?

The dual Umno leaders should accept this challenge to infer which they have been not enchanting in the systematic campaign of lies to undermine as good as harm the state governments open proposal policy as good as affordable housing programme, he pronounced in the statement.