ڤاچ سهكن بڠك نڬارا بلي تانه كراجأن ڤد هرڬ ترلالو تيڠڬي اونتوق باير هوتڠ 1مدب باوه ڤينتادبيران نجيب
Bank Negara Malaysia (BNM) had not carried out adequate due diligence when buying the RM2.07 billion piece of government land in Kuala Lumpur to pay off 1MDB’s debts, read the Public Accounts Committee (PAC) report.
The report which was tabled in the Parliament today revealed that the purchase of Lot 41 was done in haste and BNM had paid a higher amount than the valuation carried out by the Valuation and Property Services Department (JPPH).
According to the report, the sale of Lot 41 to BNM by the government through SPV Hartanah Mampan Sdn Bhd was done to fund the 1MDB rationalisation plan.
It said that BNM had paid RM2.07 billion, from which RM1.035 billion was paid on Dec 19, 2017, and another RM1.035 billion on Dec 27, 2017. The sales proceeds were then used for payments under the 1MDB rationalisation plan on Dec 31, 2017.
KUALA LUMPUR: Bank Negara Malaysia (BNM) had not carried out adequate due diligence when buying the RM2.07 billion piece of government land in Kuala Lumpur to pay off 1MDB’s debts, read the Public Accounts Committee (PAC) report.
The report which was tabled in the Parliament today revealed that the purchase of Lot 41 was done in haste and BNM had paid a higher amount than the valuation carried out by the Valuation and Property Services Department (JPPH).
The PAC report said BNM had never planned on buying Lot 41 before the offer was made by the Ministry of Finance (MoF), adding that the purchase was never part of BNM’s yearly strategic plan for the period of 2015-2017.
This was despite BNM saying previously that the purpose of buying the land was to develop a financial services education hub for the long term.
This, the PAC said, raised the question of whether BNM was, at any point, pressured by the government to make the purchase to bail 1MDB out of its massive debts.
“BNM did not carry out adequate due diligence in the purchase of Lot 41.
“BNM’s board of directors made the decision to buy Lot 41 nine days after discussion with MoF on Aug 15, 2017, and three days after MoF made an offer on Aug 21, 2017.
“The procurement transactions were completed in a short period of four months. All these raise doubts as to whether BNM was facing pressure from the government in making the decision,” read the report, which was also published on Parliament’s website.
According to the report, the sale of Lot 41 to BNM by the government through SPV Hartanah Mampan Sdn Bhd was done to fund the 1MDB rationalisation plan.
It said that BNM had paid RM2.07 billion, from which RM1.035 billion was paid on Dec 19, 2017, and another RM1.035 billion on Dec 27, 2017. The sales proceeds were then used for payments under the 1MDB rationalisation plan on Dec 31, 2017.
“The acquisition price of Lot 41 amounting to RM2.07 billion based on the valuation carried out by Messrs. Suleiman Co was high.
“JPPH’s assessment based on the existing ownership status, namely Land Use Category ‘None’, Real Condition ‘None’ and institutional zoning with a plot ratio of 1:2 was RM1.421 billion.
“Payment of the acquisition price of RM2.07 billion was not appropriate without first changing the status of the Land Use Category from ‘None’ to ‘Building’ and breaking the boundaries/sub-division (pecah sempadan) with the part of the land owned by Malaysia Space Agency (MYSA).”
As such, the PAC recommended for BNM to immediately resolve the issue of changing the Land Use Category and sub-division of Lot 41.
The committee said a thorough plan to optimise the use of Lot 41 needs to be finalised.
“While respecting the government’s beneficial property sale transactions, it is important that BNM is able to make decisions related to its investment and development independently without being influenced by any party.”
Source:
WAJIB BACA:
MALAYSIAN POLITICS – THE UGLY AND BITTER TRUTH EVERYONE SHOULD KNOW (PART 1)
