‘BN sold more land than Pakatan in Penang and collected less’ ??
LSS Report
One of the most often repeated lies by the DAP Penang State Govt and Lim Guan Eng is this:
“Barisan Nasional has sold 35 times more land than Pakatan Rakyat and yet received less money.”
And it will come with newspaper headlines mostly printed in their own state newspaper Buletin Mutiara like this:
I have lost count on how many times YAB Chief Minister and the various DAP ADUNs have said this.
Each time, they are lying each time they say it.
Firstly, they will show you this graph as “proof”.
Looks like too cheap right and BN very corrupted right? That’s until we look at the details:
1) 980 acres at Tanjung Tokong:
This deal was signed in 1992 (yes almost 25 years ago) and Please… that Tanjung Tokong land was NOT EVEN LAND! It was a reclamation project awarded 15 years ago and the price of RM1 was just the rights to reclaim and once reclaimed the developer still have to PAY for land alienation premium and also to PAY for the conversion premium and also hand-over 10% of the reclaimed land FOC BACK to the State Govt.
As part of the deal, the developer also had to build subsidized low-cost housing.
You mean there is no cost for reclaiming land? So how can you say it is only for RM1psf? What is the cost of the 10% reclaimed land given back? The subsidized housing? the land premium and conversion cost?
And another part that YAB CM forgot to mention to you is that as part of the arrangement, 191.13 acres will be reclaimed and surrendered to the Penang government which includes 131.09 acres at Persiaran Gurney.
Out of this 191 acres, Penang govt had already signed to give away 110 acres of this land to the concession company constructing the Penang Tunnel.
And the Penang Tunnel company has just turned around and sold 50 acres of this land at RM2.83 billion.
This means that this 1992 reclamation agreement by the BN Govt then would have given 191 acres worth RM10.82 billion worth of land to the Penang Govt – or at least RM253psf – and certainly not RM1 psf (which is the often repeated lies of DAP).
