New Straits Times Online reported just now that,
Tabung Haji clarifies land purchase
Read More : http://www.nst.com.my/node/83436
excerpts:
Deputy Group Managing Director and Chief Executive Officer Datuk Johan Abdullah said the investment is a commercial decision which fits with TH’s risk appetite and has gone through all internal due processes accordingly.
However, TH denies that the Group is buying the Signature Tower (Phase 2) as reported in the blog. Leakages of proposal papers are not proof of approved investment decisions.
The purchase price of the property at RM188.5 million was at a discount to the current market value as appraised by an independent professional valuer.
UPDATES
Apparently Tabung Haji chairman Datuk Abdul Azeez Abdul Rahim tweeted a denial to The Benchmark's claims last night.
I was not immediately aware of it as I'm not on Twitter.
A friend forwarded me this,
I'm now waiting for an official denial.
ORIGINAL POST
I first read the occasional postings of the pro-establishment The Benchmark blog during the run up to the 2013 general election.
Back then, I found the blog to be fresh and brave.
It's however been a while since I last read anything posted in the blog.
Nonetheless, today I noticed its latest post, which I thought was quite disturbing.
The blog claimed that,
"Tabung Haji has entered into a deal to purchase 2 plots of TRX land from 1MDB for a total sum of RM772 million cash. Tabung Haji is using depositors money and not government funds.
"According to a set of documents made available to us, Tabung Haji is believed to have paid a whopping RM2,860 per square feet (RM194million) for the first plot of land. Little birds in Tabung Haji confirmed it was a fast-track deal which gained the Minister's approval in less than two weeks and that the money has been paid to 1MDB in full, as demanded.
"For the second plot of land in the same TRX vicinity Tabung Haji has agreed to payRM3,900 per square feet (RM578million) in cash. Don't bother about the 'Signature Tower', its just a...
"In both deals the risk analysis by experts in Tabung Haji is self evident (see documents).
"Despite the high risk and a looming property and office space glut in Kuala Lumpur, Tabung Haji seems to be twisted into pumping cash into 1MDB for land which was initially owned by the Government.
"1MDB, as exposed recently by former Prime Minister Dr Mahathir Mohamad, is believed to have been awarded the large track of Government owned TRX land in Jalan Tun Razak at a dirt cheap rate of RM60 per square feet.
"1MDB is also believed to have paid a slightly higher rate of about RM90 per square feetfor the Sungai Besi RMAF airport/ base land.
"Why is Tabung Haji now paying an average of between 48 to 65 times more for the same piece of Government land with the poor depositors money?
"Basically 1MDB got Plot 1 for RM4 millionfrom the Government and now Tabung Haji is paying RM194million.
"For Plot 2, 1MDB got it for a mere RM8.9 million and Tabung Haji is buying it at RM578 million."
To read the The Benchmark's post and view the documents which allegedly support the blog's claim, please go to this link,
A new deal for Malaysia - TABUNG HAJI and 1MDB
I'm sure the media people were already scrambling to get confirmation or denial to this claim by The Benchmark from both 1MDB and Tabung Haji.
I expect the full story to be out by tomorrow.
These sorts of claims could be very damaging to the government if not clarified immediately.
Personally, I hope the claims were false.
It's because just two months ago,
Tabung Haji expects 2015 to be a challenging year
I'm sure the Tabung Haji depositors, who mostly entrusted the safekeeping of their life savings to perform their pilgrimage to Mecca will not be happy with these sorts of stories.
Yeah, hopefully The Benchmark got it wrong and those documents it alleged to be evidence of the Tabung Haji's 1MDB deal were false.
http://www.thestar.com.my/Business/Business-News/2015/04/07/MRCB-buying-German-embassy-land-in-KL-for-nearly-RM260m/?style=biz
ReplyDeleteThe embassy is in the proximity and sales was transacted few weeks ago.
Penyu
P.s. If Malaysian Gomen were to sell embassy land sure people will say "Gomen dah brngkrap"
ReplyDeletePenyu
"Personally, I hope the claims were false."- Looking at the contents of the exposure, we can safely assume it is a fact. Seriously the only hope is that we all don't end up being a third world country with this Kangkung Moron cleaning up every coffers that he and hippo can find any money. Stealing from Tabung Haji depositors is a cruel thing to do as it is as good as stealing from the orphans.
ReplyDeleteZack
Annie,
ReplyDeleteThe Ah Jib Gor Express train is on a runaway trip
They screwed up Felda, they screwed up Risda and now they are screwing up Tabung Haji......mampuih orang Melayu.
TDM is loathed and brushed aside for asking accountability.
Can any of our Sultans stand up against this runaway train ?
No,they are busy with FIFA and JDT.
Rompin folks have somewhat woken up (especially the Felda folks)
Anyway the gravy train is chugging along on dangerous tracks.
Trust me,the Almighty will derail them...and it will be pretty soon.
Yes, the extraordinary powers of the Yang di-Pertuan Agung must be summoned to initiate a Royal Board of Inquiry into the 1MDB accounts, which it seems from all the evidence available so far to be a case of grand embezzlement of the national treasury by the PM.
Delete"Can any of our Sultans stand up against this runaway train ?"
DeleteEr, seriously? The Star reported on Dec 3, 2013 that one of them sold plots of land to a China-based company for RM4.5 billion, and you think they should say something about dubious land deals in KL? Itu kes yang kita tahu, yang kita tak tahu? Cameron Highlands etc.? Please wake up darling.
God Save Our Beloved Malaysia.
Love,
Pwincess.
It is super prime land.
ReplyDeleteFrancis Yeoh would pay a billion ringgit for it, closed eyes, I tell you.
And like Anonymous said, Germans sold their embassy land for a quarter of a billion ringgit. Smaller land pulak tuu. U know why? Because it's super prime land.
Thx
Then why did Government sell it to 1MDB for a mere rm60 per square feet? Now 1MDB is flipping it for rm3,900 per square feet. This is what Tun is questioning.
DeleteIf my maths is right that's an incredible 65 times mark-up in land price:
DeleteOver what time frame was this valuation inflated to such a degree? How close does it approximate the current market prices for land-parcel transactions in KL? Realistically, will there be private parties to develop the area or is this an inter-governmental exercise in futility to cover up 1MDB's failure?
They value land before conversion. If syarat is institusi, for sure land value is RM60. Supposedly cannot do that. All PPP projects, land is valued after conversion, by looking at neighboring value lah.
DeleteThis is the case of right hand cheating left hand. Both also know since both have the same brain.
Azeeeeeeeeeeeeeeeeez Mamak mana? Kat Nepal ke?
ReplyDeletethis kind of people really irritates me...i wonder if any feels the same....
Deletehaiz...this fella trying to be funny but at the same time being rude...
>james bond
DYMM Sultan Perak speech during his installation day is slap to the face to the clueless and also to other Sultans who only sending representative....Though Tuanku want to be neutral in politic but for the sake of rakyat and the country as a whole HRH should lead the way.The stench from the carcass cannot be wrapped anymore
ReplyDeleteBy convention, Malay rulers always send their representatives during the Pertabalan (Royal Installation) of another Sultan and these representatives are always an heir to the throne or a very senior royal. During DYMM Sultan Nazrin's Pertabalan, all Malay states including Negara Brunei Darussalam sent their Crown Princes except Johor if I'm not mistaken (but hardly surprising). Then after the Pertabalan, fellow Sultans from other Malay states would normally be entertained in a Royal Banquet hosted by the newly installed Sultan. That's what we normally do in Malaysia.
DeleteYes, DYMM Sultan Nazrin is one of the few exception in Malaysia, being a Royal with a brain and his speeches have always been excellent. So, at least there's still hope for our country. I'd rather not comment about the others la.
God Save Our Beloved Malaysia.
Love,
Pwincess.
THE BENCHMARK: Time can bring you down, time can bend your knee, time can break your heart, have you begging "Please...?"
Deletehttps://www.youtube.com/watch?v=b6t4Zs5Yq_k
By Time, Verily Mankind is in a state of Loss, other than he of true faith who does good works, and enjoins truth and perseveres in peace.
aq simpan kat tabung haji berpekin2 ikat perot segala...sesen masuk poket najib n da gang mmg aq haramkan kesemua keturunan najib dan gang sampai kiamat...nak bg senang org nai haji aq tak kesah...nak marah aq pon ada rasa marah...
ReplyDeleteSo what? Tabung Haji has money. Majority Malays are not complaining or up in arms. So siapa engkau, untuk complain. Salahke Tabung Haji gunakan wang penabung Islam untuk commercial venture? I support Tabung Haji's endeavors.
ReplyDeleteNot wrong to enter into commercial venture. But into a stupid commercial venture like this? Baca the whole proposal paper esp the risk comments baru comment.
DeleteJangan jadi macai.
The way they do it is not right. If you have RM100 million will you invest in 1MDB personally while you know 1MDB is in bad shape? It's quite funny that TH has to pay 48 to 65 times more of the original price. Will you do that if you run a corporation?
Delete"So what? Tabung Haji has money. Majority Malays are not complaining or up in arms."
DeleteYou ni memang dilahirkan bodoh atau jadi bodoh secara berperingkat sejak kecil? Itu bukan duit Tabung Haji la bodoh, itu duit pendeposit Tabung Haji yang bagi amanah untuk Tabung Haji laburkan supaya diorang boleh pergi tunaikan rukun Islam. Bukan duit mak bapak bos Tabung Haji to just forked out that money for some stupid commercial venture tau, kalau betul apa yg didakwa. If that is the case, tell Tabung Haji to just take over 1MDB la, rather than paying exorbitant amount of depositors' money for plots of land as alleged. Better still, tell Tabung Haji bosses to persuade the government to sell them plots of prime land for peanuts, and then sell back the same plots to 1MDB for more than 50 times the original price. Better deal right? Furthermore, that money can help Malaysian Hajj pilgrims to go to Mecca with better comfort and facilities kan?
Bodoh! Kicik-kicik tamau mampus, bila busar bagi komen bodoh.
Love,
Pwincess.
Sabaq akak. KJ masih hensem. Boleh terus berangan bertarung sengit dengan die.
DeleteAnnie, sudah dinafikan oleh pihak LUTH.
ReplyDeleteBagaimanapun pagi ini saya sudah buat keputusan keluarkan 70% dari simpanan.
No wonder budak suruhan FLOM diletak disitu untuk permudahkan segala yes and no.
PIDM guarantees your deposit up to 200k. So, why bother?
DeleteHahahahaha nice one... :D
DeleteMABM
Ini bukan soal PIDM, soal integriti, tunjukkan sikit kuasa penyimpan..
DeleteMacam 1MDB. Percayalah pada Najib dan Rosmah...do not worry !!!
For the record: TH is not under PIDM.
Delete
ReplyDeleteAi yaa !, Bulayu kenak lagi lea aa ,, manyak cilakak itu macam maa aa , manyak kesian lor rr .
Wa atak ingat eaa aa kalau itu Uncle Lim pon tatak belani buat itu macam lor rr .
Hai .....Yaa aa .
TRX lands are prime land so no issue if LTH wants to buy the land BUT it must be at a fair market value. THE ISSUE is why gomen sold to 1MDB the lands at dirt cheap price? THE BIGGER ISSUE is what happened to 1MDB unaccounted RM20 over billions money? Masuk poket siapa?
ReplyDeleteJAWAB NAJIB, JANGAN TAK JAWAB. You are 1MDB Chairman. You are also Minister of Finance. A clear conflict of interest. How can you approve the sale of TRX lands to 1MDB at dirt cheap price? You are stealing the money from the rakyat!
Haiya. Lu olang tak tau biznes ka. Buy low sell high lah. Boloh.
ReplyDeleteSaman sesiapa yang buat dokumen palsu untuk menghasut orang jahanamkan LTH. Jangan lepas.
ReplyDeleteIGP dan AG mana? Tangkap bloger tu bawah ISA.
aq ckit tak percaya cakap2 azeez..kalo dah diwar2kan berita dah mmg sahih lah berita tu..cakap2 org politik dlm gomen 1 2 org ja yg boleh di percayai..azeez najib n da gang mmg harem boleh dipercayai...sori berlorilori stoberi....
ReplyDeleteSomething happening in Johor again that may ruffle some feathers in Putrajaya
ReplyDelete
ReplyDelete"Sorry for the miscommunication .. " (??)
-- DS Abdul Azeez re-tweeted on 7th May 2015
OK, we TH members will in-sya-Allah accept your immediate resignation
for confusion caused, and lack of transparency in the purchase of one(1) 1MDB lot, boleh?
Haji M Zin
Alor Gajah DPH
Kat tv3 ada berita pasal ni. TH confirmed buying only 1 plot of land not 2 as mentioned in one blog. The funny thing is tv3 did not mention from whom TH bought the land.
ReplyDeleteI don't want to question whether such venture by TH can make or break TH but like one of the commentators had mentioned, it probably going to make a windfall in the future.
ReplyDeleteWhat I want to question is TH responsibilty and accountability to its depositors. You're dealing with their money. You should tell them what you're intended to do with their money. Where do you want to put their money to. TH should declare of such purchase if it intended to do so. They shouldn't do it in secrecy or behind close doors.
Yes, given the citizens lack of confidence with the ministry of finance these days.
DeleteA TUANKU WITH A VISION
ReplyDeleteJohor Sultan Ibrahim Ismail has urged his people to emulate Singapore's single stream education system which uses English as the medium of instruction.
In his speech at the opening of the Johor state assembly sitting today, he said Singapore's system has succeeded in fostering unity in the city state and Johoreans should be open-minded about adopting it.
I think we really need maths and science in English for our children, don't you think its a good idea for everyone?
DeleteWhat's wrong with the current Malaysian education system? Why must we emulate Singapore's single stream English-medium education system? Is some people trying to insinuate that our Malay-medium education system failed to foster unity? And that teaching so many subjects in Malay failed to produce good citizens? Have they done enough studies to refute what our academics have done for decades? The evidence is on the ground la, plus there are so many other countries which also managed to forge unity and prosperity without adopting English as the medium of instruction in their national education system.
DeleteMalay is the national language of this country and it is a language for unity, hence we use this language in our schools apart for other official functions, administration etc. for decades since independence as enshrined in the Federal Constitution. It is the duty of Malay Royals to uphold this special position of Bahasa Melayu, along with other special rights. HRH Sultan Dr. Nazrin once bertitah that "Pencerobohan yang besar bermula dari perbuatan kecil" and Pwincess thinks a lot of people ought to understand HRH's wise statement.
Ideally, when we want to discuss about education, it is best to start at home. Start with ourselves. Start with our own children before with meddle with someone else's. Kementerian Pendidikan Malaysia melalui Pelan Pembangunan Pendidikan Malaysia 2013-2025 telah menegaskan perkara yang sama. Rakyat Malaysia yang suka sangat sekolah Singapura, boleh hantar anak-anak ke sana saja tanpa merosakkan sistem yang sedang digunapakai di Malaysia. Thank you very much.
Love,
Pwincess.
Padan muka. Ketuanan Melayus rocks!
ReplyDelete