Over and above claims about Kuala Lumpur City Hall (DBKL) secretly selling off plots of land, Cheras MP Tan Kok Wai revealed today that three plots of prime land in the federal capital have been sold to three companies owned by one family, at a cheap price.
“There were three plots of land that were sold to three companies for a total of RM671.6 million. All the three companies belong to one family.
“I had asked for opinions of some professional valuers on this and they felt that a fair price for the three plots would be about RM1.5 billion.
“The price sold is therefore two times lower than the competitive market price,” Tan, a DAP central committee member, told a press conference at his constituency service centre in Kuala Lumpur this morning.
He said all three companies that purchased the plots belonged to members of one family, which he named at the press conference.
“If you check it, you will find out that the owners of the three companies come from one family – the father, the son and the daughter,” Tan said.
The first plot is the land where the Kuala Lumpur Velodrome, which was used in the 1998 Commonwealth Games, is located. This prime land was sold to one of the companies for RM146.6 million ringgit.
Tan (left) said the second plot of land, in Batu Dua Setengah, Jalan Cheras, making up an area of 31.9 acres, and where three former DBKL departments, including the health department, had been located, was sold for RM380 million.
The third plot of land, which he said was the most prime plot and located next to the Kuala Lumpur City Centre Twin Towers, covered 1.35 acres in area and was sold at RM145 million, or RM2,525 per square foot.
This plot was sold to a company set up in Batu Pahat, Johor, in 1985 as a small shop selling Malay fashion items and ties. This company has expanded since then, but still sells fashion items and ties.
“All the three plots of prime land were sold to members of one family for only RM671.6 million, and without open tender. This is a very serious matter.
“Four crucial questions must be answered: why no open tender; why sold at such cheap prices; why do DBKL and the rakyat have to sacrifice the velodrome and three city hall buildings; and why one family gets the three plots of prime land so cheap?” Tan asked.
From a twitter..