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PETALING JAYA: Former Prime Minister Najib Razak has again questioned the sale of properties owned by government-linked companies (GLC) after it was revealed that the MIDF building in Kuala Lumpur was sold to a Singapore company for RM 140 million .
“We already have to pay compensation of between RM300 million and RM700 million to Singapore because we canceled the HSR (high-speed rail) project, and now Singapore is buying our buildings in the most expensive location in the country.” he questioned today in a Facebook post.
He said this comes after Perikatan Nasional (PN) approved the sale of the Royale Chulan Bukit Bintang, a four-star hotel owned by Lembaga Tabung Angkatan Tentera (LTAT), to another Singapore company, at a 10% discount, just two weeks ago. .
“The 10% discount was given because the hotel sector has weakened due to the Covid-19 pandemic. The price dropped from RM197 million to RM177 million ”.
Najib had previously claimed that negotiations for the sale began during the Pakatan Harapan (PH) administration.
“Before this, Mat Sabu had asked me not to lie about the sale of the hotel, but in the end the hotel was sold to the same buyer in Singapore at the same price and now at a discount. What will you say now? Najib asked.
He was referring to Amanah Chairman and former Defense Minister Mohamad Sabu, who criticized Najib for allegedly making defamatory remarks about the hotel’s sale in March 2019.
It was then reported that Singapore-listed Hotel Royal Ltd was buying the Royale Chulan Bukit Bintang from Boustead for RM197 million. Boustead is expected to make a profit of RM92 million from the sale.
Boustead Holdings, in which LTAT is the largest shareholder, reportedly said that the sale of the Bukit Bintang property in Kuala Lumpur was part of the group’s overall plan to return to profitability by divesting non-strategic assets.
