News & Articles Penang to freeze land transactions involving 1MDB
Penang to freeze land transactions involving 1MDB
8 Jul 2015
GEORGE TOWN, July 8, 2015:
The Penang government is prepared to freeze any transaction involving land belonging to 1Malaysia Development Bhd (1MDB) said to be sold for development projects in Air Itam.
Chief Minister Lim Guan Eng said instruction had been issued to the State Secretary’s Office and the office of the State Legal Adviser to look into the matter.
“The state executive council today decided to freeze any land transaction that involves 1MDB,” he told a media conference here today. 1MDB was reported to own a 94.7 hectare site in Air Itam.
Last June 30, 1MDB president and group Executive Director Arul Kanda was reported to have issued a statement that 1MDB would appoint an independent real estate consultant to review the proposals it received for its land parcels in Air Itam and Pulau Indah in Selangor.
He said that it was part of the fund’s strategic review to monetise the two land parcels through joint ventures or outright sale which was announced in February and confirmed in the rationalisation plan presented to the Cabinet on May 29.
In another development, Lim said he was shocked with PAS president Datuk Seri Abdul Hadi Awang’s statement on the need for four trustworthy witnesses to support the allegation on corruption made against Prime Minister Datuk Seri Najib Razak.
If four witnesses are needed, then everybody is free to engage in corruption because financial transaction can be done through computers, he added.
The Penang government is prepared to freeze any transaction involving land belonging to 1Malaysia Development Bhd (1MDB) said to be sold for development projects in Air Itam.
Chief Minister Lim Guan Eng said instruction had been issued to the State Secretary’s Office and the office of the State Legal Adviser to look into the matter.
“The state executive council today decided to freeze any land transaction that involves 1MDB,” he told a media conference here today. 1MDB was reported to own a 94.7 hectare site in Air Itam.
Last June 30, 1MDB president and group Executive Director Arul Kanda was reported to have issued a statement that 1MDB would appoint an independent real estate consultant to review the proposals it received for its land parcels in Air Itam and Pulau Indah in Selangor.
He said that it was part of the fund’s strategic review to monetise the two land parcels through joint ventures or outright sale which was announced in February and confirmed in the rationalisation plan presented to the Cabinet on May 29.
In another development, Lim said he was shocked with PAS president Datuk Seri Abdul Hadi Awang’s statement on the need for four trustworthy witnesses to support the allegation on corruption made against Prime Minister Datuk Seri Najib Razak.
If four witnesses are needed, then everybody is free to engage in corruption because financial transaction can be done through computers, he added.
Source: The Rakyat Post