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Land flip exposed – Selangor Times

Fri 2011-Nov-18 @ +08 17:35:55 pm

By Gan Pei Ling
Selangor Times

SHAH ALAM: Opposition leader Datuk Satim Diman and a private developer made millions in profit via questionable land deals in 2006, the state assembly was told this week.

Tan Sri Khalid Ibrahim said the state had allocated 80 acres of land for the solar valley Science Park II at no cost to the Selangor Agricultural Development Corporation (PKPS).

“PKPS then sold the land to Nikmat Inai Sdn Bhd, where Satim (photo, right) is a shareholder and director. But before the company had even completed payment to PKPS, the land was re-sold to PKNS (Selangor Development Corporation),” said the Menteri Besar.

PKPS sold the land for RM6.5 million to Nikmat Inai, who in turn sold the land at more than double the original price to PKNS.

According to the sales and purchase agreement dated Aug 10, 2006, Nikmat Inai sold the land for over RM19.2 million to PKNS. In the process, Nikmat Inai made at least RM12.7 million.

“PKNS could have bought the land directly from PKPS,” said Khalid’s political secretary, Faekah Husin.

She urged the Malaysian Anti-Corruption Commission (MACC) to investigate the case.

At that time, Satim held a 30% share in Nikmat Inai while developer Talam Corporation Bhd’s subsidiary Supreme Precious Sdn Bhd owned the remaining 70%.

Based on documents shown to Selangor Times, Nikmat Inai then had three members sitting on its board of directors – Satim, Jasni Othman and Theong Meow Nam.

Khalid described the episode as “shameful” while winding up the budget.

When contacted by Selangor Times, Satim declined to comment on the disclosures, saying the expose was merely an attempt by Khalid to “provoke” him.

In another case, a former Menteri Besar, a wife of the Agriculture and Agro-based Industry Minister and local political leaders are alleged to have received land in Alam Perdana during the Revolusi Hijau policy.

“The land was sold to Barisan Elit (Sdn Bhd) to build an industrial park even though the land status remained agricultural. The project went ahead while the state lost millions in land premium,” said Khalid at the Selangor state assembly.

The current state administration finally compelled Barisan Elit to change its land status from agriculture to industrial in accordance to law and paid RM29 million in land premium.

» Selangor Times Online

One Comment
  1. Lok1 permalink
    Sat 2011-Nov-19 @ +08 01:50:58 am 01:50

    Korek3,this is just the beginning of the Never Ending Story,how I would love to have China’s style punishment,Firing Squad,ta pau the whole Gin Bang Gang

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