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10 APRIL 2024

Friday, November 16, 2012

What’s the payout to KLIDC, Lim?


The Penang government has a statutory duty to "clear the air" on the amount they will compensate Taman Manggis land 'owners' KLIDC.
GEORGE TOWN: A parliamentarian has called on the Chief Minister Lim Guan Eng to disclose the compensation sum the state would pay a dental company to redeem the Taman Manggis land in order to ‘re-sell’ to Barisan Nasional.
Nibong Tebal MP Tan Tee Beng said the people have the right to know the quantum of settlement that the state government would bear.
He said the people must also want to know how much the state government would eventually earn from the RM22.4 million sale of Taman Manggis land to BN.
“State funds are public money. The state government has a statutory duty to clear the air on this,” Tan told FMT.
Lim has said that he could sell the 0.45ha Taman Manggis land to a BN-link company since the state government had not transferred its land title to original buyer Kuala Lumpur International Dental Centre (KLIDC) Sdn Bhd.
He said KLIDC moreover did not object to the BN sales and would be happy with compensation.
Originally, the state decided to sell the land for RM11,494,176 or RM232 psf to KLIDC to build a 30-storey posh hospital-hotel project.
The previous BN state government set aside the land for an affordable housing project for city poor.
When BN slammed the state government for selling the land to KLIDC, Lim promptly offered the land to BN for RM450 psf.
The state BN agreed and its company, Taman Manggis Fasa 2 Development Sdn Bhd duly paid Lim’s administration RM224,073 earnest money to buy up the land on Oct 3, 2012.
Vested interest?
Last week state BN youth chief Oh Tong Keong produced documented evidence from Companies Commission of Malaysia (CCM) to prove that KLIDC had mortgaged the land last year to obtain full bank loan to purchase the land.
Due to the bank loan, Tan argued that the state government may have to fork out up to RM18 million to KLIDC to settle the loan and compensate for the loss of project.
“So eventually how much Penangites would earn from land sales to BN?” he asked.
He also asked Lim to clear the air on how Taman Manggis land sub-lots could appear on KLIDC’s CCM certificates and why the state government fully backed the company to obtain bank loan by way of debenture.
“KLIDC is no government-link company … What’s the state government’s vested interests here?” asked Tan.

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