Some details of land deals underneath the BN revealed.
Excerpt of the statement from the CM yesterday:
BN sole 980 acres of budding land In Tanjung Tokong during RM1 per block foot and 325 acres of Jelutong Expressway reclaimed land during RM20psf.Land sales by open proposal is open believe as they are advertised publicly. The open tenders of land sales by PR state supervision in removing the top price above market worth is the approach contrariety to land sales by the previous BN government. For instance in the Tanjong Tokong Reclamation, underneath Agreements dated 1990 & 1999, the developer was since the right to reclaim and develop 980 acres of land off Tanjong Tokong during the price of RM 1 per block foot!As for the Jelutong Expressway, underneath Agreements dated 1997, 2002 & 2003, the developer was since the right to reclaim 325 acres of land in sell for constructing the Jelutong Expressway during an estimated price of RM300 million and remuneration of RM25.4 million. In other words, the total price is RM325.4 million for 325 acres or the price of reclaimed land during Jelutong Expressway is RM 1 million per hactare or over RM 20 per block feet. What's more the developer can compensate RM 25.4 million over 10 years from 2005 up to 2015 surely the jot down for length of remuneration period.
Then there was the sale of 750 acres of budding land in Batu Kawan, right next to the site where teh second Penang bridge starts on the mainland, to Abad Naluri Sdn Bhd.
Who were all the parties concerned in these deals? Were proxies involved? I consider the thorough investigation is indispensable to get to the bottom of these deals and to find out how much, if during all, the state has mislaid as the outcome of all thes! e deals. - anilnetto
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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