Penang state govt freezes 1MDB Air Itam land purchase

26 May 2016 / 19:30 H.

GEORGE TOWN: The Penang state government is freezing 1Malaysia Development Berhad (1MDB) purchase of land in Air Itam until all question related to the scandal ridden firm are answered.
Penang Chief Minister Lim Guan Eng (pix) said the 234 acres of land bought by the federal government link company will be frozen until there is "accountability and transparency" revealed for the sake of public interest.
"Prime Minister himself has promised to build 9,999 homes for the 3,000 families who would be evicted on that piece of land.
"However until all questions on the scandal are answered, the state government will block any transaction whether an application for change of land ownership or consent for mortgage. Prior approval of the Penang state excos must be obtained for all these", he said in a statement today.
Lim stressed that the 1MDB scandal cannot be covered up, and the federal government must come clean by making public the Auditor-General's Report on the issue.
The decision to freeze 1MDB asset in Penang comes in the wake of of the state legislative assembly passing a motion to block any state transaction with 1MDB on May 20.
Just before the 13th General Election 1MDB has purchased the land for a whopping RM1.38 billion.

thesundaily_my Sentifi Top 10 talked about stocks