LAND SOLD DOES NOT EVEN BELONG TO KDSB AT TIME OF SALE.
Got this from a Mr. M from PKA:
Some of us old timers at Port Kelang knew that this PKFZ thing is no good from day one. A colleague of mine was always called by the lady boss GM to run here and there and to fix this up and that without any of us knowing what is really happening.
But we known that the project of PKFZ is a big mother of all projects, and tat the boss always want things done on the double quick. Few of us engineers knew that to have a greenlight you need the plans and hire quantity surveyors but the approval came so fast and the development also very fast without the quanity surveyers’ report. In fact, they are not hired also.
All smell of a rat. A big giant dirty rat.
So many things to say but don’t know where to begin. So, good place to start is the land which is very suspicious. The press and the media only talk about RM25psf. Even YB Kit also hantam the Minister Ong about just this issue vs the Rm10.16psf for the land purchase. What these politicians know is just the tip of the information given by the ministry people and leak out. They know nothing!
More important is not why LPK buy the land from Kuala Dimensi (KDSB) and not compulsory acquier by the government That one already covered by the newspapers and press. It is not about AG advice and cabinet approval just like that. Not so straightforward.
But the truth is definitely more dirty than that. We know that the developer with Tiong and his machai Faisal are very connected to Selangor bigshots. That heard also that PM’s SIL, KJ very close to them, especially Faisal. No secret on this as the website by UMNO all talking about it. All we know at that time is that our lady boss keep things from us and just ask us to do very specific things without telling why.
Now, the picture is very clear already because the conspiracy tie them all together to cheat LPK money and government.
Some background information. From the start already there is conspiracy when KDSB bought the land cheap from Koperasi Pembangunan Pulau Lumut Berhad or KPPL who are the owners since Selangor Government approved for them in 1992. It is interesting that the links already established then as KDSB’s deputy CEO, Faisal is the son-in-law of Tan Sri Onn Ismail who was then with KPPL.
A part of the land of 500 acres was sold by KPPL to KDSB in 1995 and then in 1996, KDSB was given power of attorney to develop the other portion of the land of another 500 acres. You know how much the 500 acres cost? Only RM3.1 million.
When it was sold to LPK, it costs over RM1.088billion!!!!
And you know what? The same lawyers who advised for LPK, also advised KDSB and also helped KPPL in the alienation process. The lawyers are Rashid Asari & Co from Klang. They seemed to be appearing everywhere. With such clear intentions, it is not difficult to cheat the clueless LPK board members.
Now this is where things get very worst since they want to cheat, they do it in such haphazard way that many lose ends not tied properly. When this happen, you know there are bad intentions.
1. KDSB didn’t even own the land at the time they sell it to LPK.
My legal friends already told me that KDSB didn’t have the right to sell the land to LPK because KDSB didn’t own the land at the time of the sale in 2002.
We come across the Information Memorandum dated 25th Jul 2009 for Asset Securitisation of Payment Receivables pursuant to the S&P agreement dated 12th Nov 2002 between KDSB and LPK via issuance of bonds. Here, it is stated that KDSB had on 24th Nov 1997 sold the 753.1 acres of the land to Great Profile Sdn. Bhd. (today a subsidiary fo Wijaya Baru Global).
This meaning that the land is belonging to Great Profile and NOT KDSB. KDSB also rely on wrong power of attorney to deal with the land.
This meaning that KDSB is misrepresenting and fraud to LPK at the time of the sale in 2002. They don’t have the land but they state they do. How can this happen? Some many say that Great Profile is already a subsidiary but our law clearly states separate legal companies and entities. It was fraud at the point of sale.
Maybe the who thing is now ratified by KDSB and Wijaya but it shows about the conspirators.
2. The web of deceit
Want to also point out that KDSB is initially not happy with RM25psf. They asked for RM28psf, and then RM26.60, and finally RM25psf. That also make extraordinary profit from the land already.
Anyway, back to the point.
I looked through some documents. The fellas at KDSB has been trying to sell to the government the land for RM25psf despite Ministry of Finance and AG saying no to LPK to buying outright.
JPPH the government valuing agency already said compulsory purchase, Secretary General to Treasury also say same thing.
But then, there is conspirators working inside the cabinet and in the MOT as well as LPK asking for RM25psf. They were pushing for this magic number. The Timbalan KSU (P) of Ministry of Transport, Dato’ Abdul Rahman Noor by memo dated 19th Jun 2001 to the Ministry, Tun Ling Liong Sik already pushed aside all the MOF decision (can you imagine that) saying tat they are not consistent with cabinet decision that compulsory purchase not possible.
It’s the same Timbalan KSU (P) who also is a director of LPK. This is a breach of duty and conflict of interest already.
Our then lady boss, OC Phang was very gung-ho and pushed the terms of KDSB in the board from 2001 to 2002. She doesn’t care that we can acquire the land cheaper at RM10.16 but just push as if she work for KDSB. Lady boss was so gung-ho she wrote to Tun Ling that PKA board will purchase at RM25psf.
You can see that things were orchestrated here already to push to sell land at high price and bleed LPK. Things can’t happen in Selangor without the OK by Khir Toyo, the then Selangor MB. The State Legal Advisor wrote to Toyo to close the door to compulsory acquisition by saying that it will not come up if agreement is reached between MOT/ LPK and KDSB.So, with this, the cabinet had no choice but to decide to purchase the land outright at an astronomical price of RM25psf.
3. Superfast agreement drawn up.
I don’t know about the rich and powerful and how they make decision. It took me two weeks to decide to buy a car and to consider all aspects before I sign the agreement. My car is only RM45K.
But our ladyboss was so kan-chiong each time there is cabinet and wanted to conclude the deal. This is despite Tun Ling writing to Tun M, who was then PM that although compulsory acquisition is preferred, the purchase price has to be renegotiated between government/ LPK and KDSB based on further land valuation.
But no, in super speed, when the cabinet sat and approved with the certain conditions on 6th Nov 2002, our lady boss OC Phang immediately issued an offer to KDSB to buy the land at RM25psf. This is amazing since she didn’t even wait for KDSB to make the offer but had to make the offer instead. This kind of things only happens if you have a GM who bullies the staff and act more like the employee of KDSB.
You can see that the offer letter to KDSB was dated 7th Nov 2002, just one day after cabinet approval. Amazing!
If you think that is amazing, there is the issue of how did OC Phang know about the cabinet decision? Perhaps she sat in post-cab but how can you act without the board approval of LPK? Even MOT’s letter to OC Phang only came on 20th Nov 2002 some 2 weeks after LPK made the offer.
The board only sat on 15th Nov 2002 presumably to chop and sign OC Phang’s decision without deliberations. There are many instances of such conspiracy. Our lady boss is clearly not acting in the interest of LPK but more for KDSB. No wonder, she’s always so arrogant and flaunting her power to be like dragon lady.
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