Big difference in land valuation

KUALA LUMPUR: Two plots of state land given to the developer of the Penang undersea tunnel project were valued at RM300mil by a private valuer, a stark difference from the RM80mil value placed on them by two government officers, the Sessions Court heard.

Private land valuer Tan Gaik Eng, 71, a director of GE Tan Valuers Sdn Bhd, said his company was hired by Ewein Bhd, founded by developer Datuk Ewe Swee Kheng, to put a price tag on both properties.