Lim questions 1MDB land deal in Penang

  • Nation
  • Saturday, 21 Nov 2015

GEORGE TOWN: The land owned by 1Malaysia Development Berhad (1MDB) in Penang is comprised of portions within three plots of land, Chief Minister Lim Guan Eng said.

He said checks by the state government found that 1MDB Real Estate owned 6.1ha of Lot 1561 which is a quarter of the plot, 1.6ha or a quarter of Lot 1584 and 1.8ha or an eleventh (11/100) of Lot 1457. All three plots are in the north-east district.

He said the 9.5ha, was registered under 1MDB RE (Ayer Itam) Sdn Bhd.

The land, he added, was transferred to 1MDB RE on March 6 last year.

“The 23.47 acres (9.5ha) are a part of three plots of land measuring 116.89 acres (47.3ha), or only a 20% possession and not 100%.

“Why purchase land without 100% equity?” he asked when delivering his winding up speech at the state assembly sitting yesterday.

He claimed that 1MDB had stated that it bought 94.7ha in Penang for a price of RM1.08bil.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Property , 1MDB


Next In Nation

Five highway tolls to start accepting debit and credit cards, says Nanta
Reduced allocations make my stress level go up, says Jelebu MP
Court denies Jamal Yunos' bid to stay execution of RM300,000 judgment in defamation suit
Strategic cooperation among member countries gives Asean louder voice internationally, says Zafrul
King hopes for more Malaysia-Singapore collaboration in food security, green economy
Matfa to host Golden Horse Awards to recognise country's top family attractions
Foreign dredger ship, sand worth RM7.5mil seized off Kota Belud
Dr Yusof outlines vision in role as Qhazanah Sabah chairman
Altitude sickness forces Slovakian climber to be carried down from Mt Kinabalu
Civil Defence Force fish cow out of Alor Gajah pond

Others Also Read