Putih mata

Nothing else can hardly express the dismay of seeing something that would turn out to be very good and valuable beyond one’s imaginations, to slip away like sand through the grip of a clenched fist.

Sin Chew story:

TRX attracts Indonesia’s leading property developer

1MDB debt issue News 2015-05-13 12:30
KUALA LUMPUR, May 13 (Bernama) — The Tun Razak Exchange (TRX) has signed on Indonesia’s leading property developer, Mulia Group, to develop its Signature Tower at the upcoming international financial district here.

In a statement today, it said 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of the TRX, signed the sale and purchase agreement with Mulia Group for the development rights to the plot.

The land transaction is valued at RM665 million, it said.

1MDB RE Chief Executive Officer Datuk Azmar Talib said, “We are pleased to have the Mulia Group on board towards realising the potential of the TRX. This significant investment underscores foreign investor confidence in Malaysia.

The Mulia Group, which has a leading market share for premium commercial properties in Jakarta, developed, owns and manages seven premier office buildings in Jakarta’s central business district.

It includes the Wisma Mulia 1 and 2, ranked among Jakarta’s tallest and most prestigious office buildings.

Mulia Group President Director and owner, Eka Tjandranegara said the company is excited to be embarking on the project to develop the Signature Tower to become Kuala Lumpur’s new landmark.

“We see TRX’s potential to further develop the city’s role as a financial capital. It also aids our growth and expansion plans.

“I am committed to personally seeing this project through, drawing from our vast experience,” he added.

Mulia Group now joins the list of investors such as Lend Lease International, a global property and infrastructure group developing the RM8 billion Lifestyle Quarter and Veolia Water Technologies, whose water management technology will halve potable water use in TRX, said the statement.

The statement also said a mass rapid transit (MRT) service would connect TRX to the upcoming High Speed Rail terminus station at Bandar Malaysia and linking it to Singapore’s financial centre.

TRX will also have direct link to key roads and major highways such as SMART, MEX, Jalan Tun Razak and Jalan Sultan Ismail, it added.

***********

On Saturday, TH Chairman Dato’ Seri Azeez Rahim announced that the BoD of pilgrimage fund investment body of over 8 million depositors amongst Malaysian Muslim decided to hive off the 1.6acre acquired from TRX. This is despite obtaining a discount of RM 32 million from the original offer price.

It is a totally missed opportunity for TH to make good money from a high value premium investment.

Many reacted in the overtone of emotional sentiment after a blog irresponsibly posted papers to TH BoD on the internal evaluation for the proposal, which was designed solely to create anguish and public outcry.

The parcel for the 90 storey TRX  signature tower was offered to TH at the price of RM 578 million. However, TH rejected the offer.

Today, Mulia Group of Bakrie Group in Indonesia swooped the piece and paid RM 665 million for it. That is a cool RM 87 million, for just mere flipping exercise.

There is a market talk that Mulia Group might take up the serviced apartment parcel which TH had to relinquish with haste over the weekend.

Published in: on May 13, 2015 at 17:00  Comments (12)  

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  1. There are many more pieces of land that TH can pursue to make money. From 1MDB or from Wilayah Persekutuan which should have pockets of State land tucked away like in Kampung Bahru, KL.

    TH may still get from 1MDB at discounted prices. If State land from WP, it needs to pay only a low premium. Just ask DS Najib for “replacement” of the sold lot or for help to get the WP Land Committee alienate a piece for the benefit of the 8 million TH depositors.

    It was Najib himself who rang Azeez of Tabung Haji “advising” him to sell the land. Opinions have been expressed that if the project was deemed highly profitable, Azees and his BoD should have defended the purchase, retain the land and develop it – after all Azees made it a point to say it was an advice, not an instruction to sell it.

    The underlying issue that has brought all these problems has been Najib’s handling of 1MDB. It even led to calls for him to resign or be replaced. Three Vice Presidents and a few UMNO Supreme Council Members have spoken on 1MDB.

    Now another Umno supreme council member, Reezal Merican, was reported to have said 1MDB must break its “elegant silence” and address all kinds of speculation about the firm.

  2. The Umno supreme council member Reezal Merican’s “reprimand” of 1MDB comes after Singapore’s Business Times reported that banks are demanding that 1MDB pay up US$975 million (RM3.52 billion) of its debts.

    Reezal has strong words against those at 1MDB – “Personally, I feel the failure of 1MDB’s management to come forward with an explanation is very irresponsible.” If 1MDB does not come forward with the truth, “someone else will”, he said.

    Singapore Business Times reported that a group of six international banks are seeking for early payment of their US$975 million (RM3.6 billion) loan to 1MDB, .

    The loan from the consortium of banks led by Deutsche Bank is only due in September but it appears that they have become increasingly jittery over 1MDB’s financial status. That may be the opinion of those at the Singapore Business Times. Even if so, looks like Najib is having all sorts of pressures. 1MDB has no significant income apart from land sales, has it?

    The report said the banks had initially granted the loan after 1MDB offered US$1.103 billion as collateral through its unit Brazen Sky Limited in BSI Singapore. The collateral was part of the 1MDB funds previously deposited in the Cayman Islands.

    It is said that the creditor banks now believe that the securitisation documents of the loan to be incomplete and can therefore demand immediate payment.

    It looks like TH can help 1MDB by paying cash for any purchase of alternative pieces of land – at discounted prices. But TH must ensure immediate transfer of the land title to TH to protect the interest of the 8 million depositors.

    • Dalam kes th pun dah ketara dan jelas dalangnya. Lembaga pengarah hanya jadi kuda. Keputusan dibuat atas nasihat atau wahyu (kata tun faisal). Lembaga pengarah dan pengurusan kena akur. Kalau tak setuju kena marah macam bekas mb terengganu. Boleh marah pengurusan dan lembaga pengarah (yang pernah dan masih berkhidmat) 1mdb. Tapi yang kena marah patut ada keberanian dedahkan wahyu siapa yang mereka patuhi. Siapa yang berani dedah kebenaran bakal jadi wira. Bela negara bukan bersekongkol dengan kerajaan yang menyeleweng. Rakyat dah celik mata dan hati dan kata2 azeez jadi bukti wahyu memang amalan perdana menteri ke atas institusi, dan wajib dipatuhi. Bukan salah guna kuasa ke turunkan wahyu macam itu?

  3. Kenapa nak putih mata? Merah mata sebab marah kat najib dan 1mdb adalah. Itupun tak reti nak letak jawatam jugak. Kita tahu dia tunggu kutipan gst masuk kantung kerajaan pastu nak buat2 macam dialah hero. Berapa kali.dah dia berlakon.macam tu. Macam orang tak ingat. Merger mas-airasia dia buat lepas tu dia batalkan. Kenaikan gaji kakitangan awam dia buat lepas tu batalkan. Akta hasutan dia cadang batal pastu dia kekalkan. Dah banyak.kali berlakon nak jadi hero tapi tak menjadi. Dalam masa sama 1mdb buat kerja off budget sampai hutang berpuluh bilion. Pastu nak dedah buruk TunM guna macai2 tak cukup umur. Yang dulu mcm sokong TunM pun dah nampak wajah sebenar. Tapi ramai rakyat masih setuju dengan TunM dalam isu “najib letak jawatan serta merta”.

    • Saya pun sokong Tun Dr Mahathir minta Najib letak jawatan. Najib kata tak mahu. Sekarang nak tengok TDM pesatkan roadshow dia.

      Najib dah jadi macam Tun Abdullah ke? Dulu Tun Mahathir kata “flip flopping, auto-piloting and sleepy”. 1MDB auto-piloting ke? Tak mungkin. Kot pilot nya di sebalik tirai.

      Tapi ngapa tak jawab tuduhan Sarawak Report dan Euromoney Report di Hong Kong tuh? Kaitan Jho Low dengan Rosmah dan anak dia – anak tiri Najib – yang alih alih kaya beli harta RM100 juta. Auto pilots tak berani nak jawab ke? Yang menarik tuh ada syarikat yang di kaitkan dengan Jho Low di katakan menerima US$900 juta dari SaudiPetro yang ada business dengan 1MDB. RM3 bilion lebih tu, beb.

      Setuju, tak rugi sesangat TH jual tanah tuh. TH bukan kucing kurap yang peluang niaga mencicah sekali dua saja. TH ada berbilion aset, ramai pihak nak niaga dengan nya. 1MDB pun nampaknya nak ngarapkan wang tunai TH lagi. Maklum lah hutang sekeliling pinggang sampai ke dada. TH boleh tolong 1MDB. Tapi mesti betul betul business. Bukan nak tolong kerana kesian Najib. Aatu kerana “di nasihatkan”.

      • Kita tau le Pengerusi dan BoD TH semua nya di lantik dek Najib. Tapi mereka kena le berpendirian professional. Kalo tak, malu le.

        Bila di ketawakan orang, kredibiliti goyang, kepercayaan dunia niaga pun hilang, takut lama lama simpanan 8 juta orang mungkin terbang.

        Tolong le, jangan gitu. Tapi selagi Najib PM akan terus gitu. Aku nak ngarapkan lebih ramai Majlis Tertinggi UMNO bersuara sekarang. Tolong tentukan Pengerusi dan BoD TH terdiri dari orang yang berwibawa, jangan melompat bila “dinasihat kan”, jual tanah kamdian terasa putih mata ke apa.

  4. Everybody….sourgrapes ka. Shame on you. Now menang sorak kampong tergadai. Now boleh tidor lena dh puas hati kan. Jawab tak kena, tak jawab apatah lagi. Biarlah AG buat kerja. Tunggu Jun. Pastu bertindak ikut undang2. Tu pun x boleh pikir ka.

    • Aku melayu jugak. Kalo ko nak shamekan pengomen di sini, rentikan le. Ko memalukan diri sendiri. Ini demokrasi. Bebas keluorkan pendapat. Asalkan secara sopan.

      Ko cakap aje apa poin ko bagi pos yang BD keluorkan tuh. Dan perkara yang berkaitan dengan nya. Fasal TH tuh ada kaitan dengan 1MDB.

      Ko bagi hujah hujah le, di sokong dengan fakta. Bior pembaca mikior kampong mana menang. Takda kampong tergadai, Mamat wei. Tapi kalo 1MDB hutang RM42 bilion ko diamkan aje, tak tau le. Takut UMNO/BN terbengkalai. Itu pasal orang di sini keluor suara.

      Kalo ko cakap apa kemajuan Task Force yang AG tubuhkan tuh, ada le juga komen ko membina. Jun lama benor tunggu. PAC nak mesuyarat 19 Mei. Ada pulak wakil DAP di PAC tu. Apa nak di kato, takkan nak melopong mulut aje. Ko pikior le sabelom nyuroh orang mikior. Amacam, bole?

    • Sapa yang gadaikan kg tu kalau bkn 1mdb. Yang th dah beli pastu suruh jual, tu perdana menteri yang gadai. Dia jugalah pengerusi penasihat 1mdb. Lembaga pengarah dan pengurusan hanya terima wahyu apa yang kena buat. Yang turunkan wahyu itulah yang gadai kg. Tak payah tunggu jun atau siasatan apa pun memang dah terang siapa yang gadai kampung. Sapa yang bersorak bila kg tergadai? Yang bersuara di sini marah, bukan bersorak. Marah pun dikatakan bersorak, mungkin ada masalah di mana2. Elok pergi jumpa pihak berkenaan untuk rswatan segera.

  5. […] Haji which had a good deal for the 70,000 sq. ft. service residential plot at RM2,800 psf had to hive it off after a blog with inciting agenda to get depositors angry and rise against the Government. It was […]

  6. […] this story is true, then TH should not hive-off the only residential parcel within the TRX mega development […]

  7. […] this story is true, then TH should not hive-off the only residential parcel within the TRX mega development […]


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