Datuk Chua Tee Yong had upon 5th Jul 2012 claimed which a Selangor state supervision has "overpaid" for a square of land taken over from Talam Corporation Berhad. This square of 2,263.53 acres of leasehold land in Bestari Jaya was valued during usually RM139.09 million by an eccentric veteran valuer although a State supervision had valued it during RM181.08 million. Hence a accusation which Selangor has overpaid by RM41 million.
Datuk Chua's accusation is not usually cheeky, it is upon purpose dubious by regulating selective statistics. Just as there were a little pieces of land which a valuer Mitra Valuers & Property Consultants Sdn Bhd had valued lower than a state valuation, there were also many alternative pieces of land which was valued aloft than a state valuation.
For example, a state supervision valued a 341acres square of Bukit Beruntung 2 freehold land during RM89.1 million, Mitra had valued a same square of land for RM100.8 million or RM11.7 million "gained" by a state.
Similarly, an additional square of land, 686.93 acres of Bukit Beruntung 2 freehold land was valued during RM179.5 million by a state, though was valued by Mitra to be much aloft during RM198.9 million. That's a "gain" of RM19.4 million to a state.
Why did Datuk Chua Tee Yong not praise Tan Sri Khalid Ibrahim for his astute business clarity over these pieces of land?
What is critical however, isn't either any of these thirteen pieces of land taken over from Talam Corporation have been valued aloft or lower than a eccentric veteran valuer. What is critical is which a altogether worth of all thirteen pieces of land taken over by a state as allotment for a Talam debts have been fair in value.
In this case, a state ha! s totall ed a combined worth of these parcels of land to be RM676.1 million. However, a really same Mitra Valuers had valued these thirteen parcels of land to be worth RM685.2 million, which equates to which they have been worth some-more than a worth a state has attached to these properties!
In fact, notwithstanding many of these properties carrying been acquired in a 1990s, a book worth of these properties in Talam's financial statement is an even aloft figure, RM690.2 million. This equates to which a state supervision got these pieces of land during a RM14.1 million discount to Talam's book worth of these assets. The upon top of information is publicly available upon Bursa Malaysia, in a Circular to Shareholders upon a Debt Settlement Proposal released upon 15 March 2011.
Datuk Chua in his anxiety to disprove a Selangor state supervision has completely missed a woods for a trees. Or he has motionless to fire blindly, prior to he was means to obtain all relevant information.
As an accountant, Datuk Chua should be giving praise to a Selangor state supervision for not usually being means to recover all a RM392 million debt with Talam, it was means to do so by taking over resources during a lower worth which what they have been worth as totalled by an eccentric veteran valuer, supposed by a Securities Commission!
It would perhaps be some-more productive for Datuk Chua to scrutinise a alternative land exchange which took place during a Barisan Nasional (BN) administration where state land was alienated to their cronies during prices way b! elow mar ket value.
Can Datuk Chua examine or explain how a Tanjong Karang Umno Division paid a reward of usually RM130,244 for a square of 1.2ha blurb land in Apr 2002 notwithstanding a market gratefulness by a state supervision being fixed during RM3.3 million?
Or can Datuk Chua demand burden as well as clarity from a former BN state supervision for alienating an additional square of land to Tanjong Karang Umno Division for usually R! M47,039 when a 0.437ha land is worth some-more than a million ringgit formed upon a state's own valuation?
These dodgy land deals have been exposed by a DAP Sekinchan state assemblyman in a final 2 days. They proved which while a Pakatan Rakyat supervision seeks to maximize returns to a rakyat by securing some-more than what is valued, a BN supervision was a complete conflicting by giving divided huge reward discounts to a cronies.
We have over a final 2 days responded to as well as refuted each singular a single of Datuk Chua Tee Yong as well as a Selangor MCA leaders allegations. None of their accusations of abuse could hold any water. Hence it is time for Datuk Chua as well as his conspirator to be brave as well as bold in confronting up to their mistakes, publicly concur which they were in error as well as apologise to a Selangor state supervision for tainting a great name of a Pakatan Rakyat Selangor government. - tonypuablog Read More @ Source
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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