Additional RM113m appears unaccounted for in Penang land swap deal

GEORGE TOWN: There is an additional RM113 million that seems to be unaccountable in the land swapped for the studies of the three highways by the Penang state government, said Gerakan state chairman Teng Chang Yeow.
Speaking at a press conference today, Teng, who is also Penang Barisan Nasional (BN) chairman, said the party had found that there was an extra RM113 million when the DAP-led state government and the state Chief Minister Lim Guan Eng told Penangites that the land swapped for the studies of the three highways was valued at RM1,300 each square foot (sqf).
He said the price was higher than the value given by the Valuation Department.
"The statement was made on Jan 11 this year and the value of RM1,300 sqf was also contained in the state's Public Accounts Committee (PAC) report.
"At that time, Guan Eng said altogether, two lots of land with the size of 3.67 acres (1.49 ha) were given to the company.
"Guan Eng's assertion totally contradicted the reply of Lim Hock Seng (Penang Public Works, Utility, Transportation exco) in the State Legislative Assembly that the state had given two lots land with size of 5.67 acres to the company.
"Actually, Hock Seng's reply at the assembly was an official version and he was replying on behalf of the state chief minister, as stipulated in the State Assembly's Standing Order," he said.
Teng added that the state government in a reply to the State Assembly on May 17 last year, stated that the two pieces of land, on Lot 702 and Lot 713, were given to the company upon completion of the studies for the three highways.
He said the Lot 702 had a size of 3.67 acres while the Lot 713 had a size of two acres.
"Lot 702 was valued at RM135 million while the Lot 713 was valued at RM73 million, thus total up to RM208 million.
"As a simple calculation will expose that RM113 seems to be unaccountable," he said.
Teng said based on the answer to the State Assembly, the Lot 702 was transferred on Feb 17, 2015 which was three months before the studies were completed in May in the same year.
"This is another scandalous act where the land was transferred three months before completion of the studies.
"The Lot 713 was transferred on Mar 22 last year," he said.
Teng in other words, said that the payment was made before the job was completed and the extra RM113 million seems to have been paid out.