Lim questions 1MDB land deal in Penang

The land owned by 1Malaysia Development Berhad (1MDB) in Penang comprised 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. - By The Star

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