Friday, May 08, 2015

Tabung Haji and 1MDB: Two players on the same side

Keeping TRX land.  I have quoted the guys at The Benchmark before, so I have to say that those guys, though anonymous, can be credible sometimes. Which is uncommon as far as anonymous bloggers are these days. In the case of their latest scoop re the purchase of TRX land by Tabung Haji, however, I think a better analysis would have helped give the right perspective to the whole issue.  
I would suggest my Dear Readers check out news portal The Malaysian Digest for this: Tanah 1MDB dibeli Tabung Haji lebih murah dari MRCB. [see below; wonder if there's an English translation]. 
I haven't had the chance to look at the details of the transaction or speak to the management of Tabung Haji, but I'd imagine the deal between the two corporate players would be a win-win one. 1MDB could have sold to Ananda Krishnan or Francis Yeoh, or the (mainland) Chinese, for twice or three times the value, easily. But that means losing yet another Bumiputera-held prime land in KL. And with such prime property, you cant go wrong even in the worst of economic times. 

KUALA LUMPUR: Lembaga Tabung Haji (TH) memaklumkan telah membeli sebidang tanah di pusat kewangan Tun Razak Exchange (TRX) milik syarikat pelaburan 1Malaysia Development Bhd (1MDB) berjumlah RM188.5 juta iaitu pada kadar diskaun berlandaskan nilai pasaran semasa dan ia telah dinilai oleh sebuah badan penilai bebas profesional.
Menurut Timbalan Pengarah Urusan Kumpulan dan Ketua Pegawai Eksekutif TH, Datuk Johan Abdullah, pembelian plot tanah tersebut adalah sejajar dengan strategi pelaburan hartanah TH yang memberikan tumpuan kepada sektor domestik.
"Pelaburan ini merupakan keputusan komersial yang menepati selera risiko dan telah melalui semua proses penilaian dalaman yang terperinci.
"Pembelian hartanah pada harga RM188.5 juta adalah pada kadar diskaun berlandaskan nilai pasaran semasa dan ia telah dinilai oleh sebuah badan penilai bebas profesional," katanya dalam satu kenyataan hari ini.
Terdahulu, Malaysian Digest melaporkan satu dakwaan yang tersebar di beberapa blog menyatakan TH telah membeli satu plot tanah di TRX pada pertimbangan RM2,860 sekaki persegi dengan peruntukan keseluruhan RM194 juta untuk dibangunkan sebuah pangsapuri khidmat setinggi 40 tingkat.
Sementara itu, satu plot lagi akan dibeli pada pertimbangan RM3,900 sekaki persegi membabitkan pertimbangan RM578 juta yang akan dibangunkan dengan sebuah menara 74 tingkat dikenali 'Signature Tower'.
Bagaimanapun, Johan dalam kenyataan sama menafikan dakwaan bahawa TH membeli Signature Tower (Fasa 2) seperti yang dilaporkan beberapa blog.
Dalam perkembangan sama, beberapa blog turut mempersoalkan pembelian tanah 1MDB oleh TH yang dikatakan dibayar dengan kadar berlipat kali ganda daripada harga tanah asal yang dibeli oleh 1MDB sebelum ini.
Berdasarkan rekod, harga tanah di sekitar kawasan berkenaan releven dengan nilaian yang dibeli TH.
Merujuk laporan The Star bertarikh 7 April menyatakan bahawa syarikat Malaysian Resources Corporation Bhd (MRCB) juga membeli sebidang tanah milik Kedutaan Jerman di Jalan Kia Peng (berdekatan TRX) dengan harga lebih tinggi iaitu RM259.16 juta atau pada kadar harga RM3,188 sekaki persegi.
Jika dibuat perbandingan, ia jelas menunjukkan harga tanah yang dibeli TH adalah lebih murah berbanding MRCB.
Sementara itu, menurut sumber pasaran hartanah, pemaju hartanah komersial, Kumpulan Mulia dari Indonesia juga sedang berbincang mengenai pembelian tanah 1MDB bagi membangunkan Signature Tower.


- mD

21 comments:

Anonymous said...

Good job Latuk!

That's your 10 mins of blogging for the whole month done.

Now, lepakkkkkk jer and wait for your cheque to arrive.

Bes!

Anonymous said...

The problem is that, if reports are correct, 1MDB bought the land from the government for only RM64 psf. Doesn't that mean that the government lost a lot of money by selling so cheap to begin with? And where has all this "atas angin" profit that 1MDB gone?

Anonymous said...

aduh bru.. when u sell the land at 48-56% from what u actually get. That's riba bro.

jgn la nak jilat bontot najib sampai duit tabung haji pun kau nak spin. tau la dia bayar kau, tapi agak-agak la.

this is financial engineering at its best!

duit org miskin nak pegi haji tau bro. cannot play play. semoga Allah swt beri petunjuk kepada hang.

ni la. kalau dah selalu sangat makan duit haram.. otak pun takleh nak pikir right and wrong

Anonymous said...

Bru, I am surprised u missing the point. The issue here is where would the profits go to? The public or the cronies?

Anonymous said...

Please be happy and take care

Anonymous said...

If you can sell to ananda 3 times the price, why the management so stupid to sell so low to thb. Sell lah to Ytl and ananda 3 times the price. So lame argument. Dato the gravy train about to end soon from najib side. DPM and the umno youth are now taking potshot at 1mdb now. There is a momentum now in umno to bulldoze najib. Dato better jump ship and start writing bad about najib before too late.

Anonymous said...

Sir, thinking allowed a) I suspect 1MDB is a victim of frauds and misrepresentation but it is the job of Auditor General to investigate, confirm or deny b) That 1MDB need to bailed out while those who absconded with 1MDB need to be punished c) Petronas money belong to the government thus it is the ideal candidate to bail out 1MDB while TH,KWSP,KWAP, LTAT should not transact or do business with 1MDB as their money belong to the subscribers d) Auditor General should do justice to the PM by expediting the Audit report so that PM can objectively take actions against all the culpriit who misled PM with forged documents and/or misrepresented investment report (if proven by AG)

Anonymous said...

Kita boleh berhujjah sampai ke subuh bai buruk membeli tanah 1mdb ini. Persoalannya sekarang seluroh rakyat Malaysia mahukan jawapan mengenai urusniaga 1mdb yg penuh dengan kegelapan tanpa jawapan dari pihak kerajaan dan PM. Mengheret TH bagi membeli harta 1mdb ketika isu sebenar belum pun selesai sudah tentu mengundang masaalah. Apatah lagi TH adalah hak penyimpan yg rata rata adalah rakyat dari pelbagai lapisan . Apa juga alasan yg diberi atau cubaan mempertahankan langkah pelaburan ini adalah satu lagi usaha yg keji sama saperti bagaimana 1mdb di uruskan. Cukup cukuplah membela PM dan kerajaan yg selama ini saya sokong!!!

trifling-jester said...

rocky talking about credibility. lol

Anonymous said...

Hensum,

Your tender devotion to money is deeply touching, but you are beginning to sound like a minority on this TH issue.

May I respectfully suggest one of your legendary "flip-flops", in which you suddenly switch positions in between blog posts.

"Journalistic integrity", pah! It's for wusses who don't know how to make money.



Anonymous said...

Kenapa 1MDB yang baru setahun jagung, berterusan kerugian serta dilitupi skandal diberi layanan yang begitu istimewa berbanding TH?

By the way, Kia Peng is considered within prime KLCC enclave, TRX is err... TRX. Its like asking why does it cost more to rent an office space in PETRONAS Tower A compared to Wisma Central. Sebelah-sebelah jer tu.

Lets face it, his position is untenable and he is becoming a liability, Tun is right - most likely he will bring the whole ship down.

Anonymous said...

Rocky is an idiot no?

Labu8455 said...

Sorry la Datuk maybe your are still dreaming about yesteryear...

charleskiwi said...

Just like often said before the troubles that Malaysia are facing to day and to morrow will come from all the Malays themselves.
Some will not, inevitably, be satisfied with their shares of the loots while some just like the repugnant and avaricious Mahathir will never be satisfied.
The days are not too far away, when there is nothing left to rob and even then the left over bones will be fought over. The half breed had 22 years to do what he is now advocating or trying to. No he was too busy coming up with mega projects, in the name of development. When the truth is those mega developments brought along with them mega 'commissions'.
That he was very famous for and thus earning him the nick name of Mr. 10-20 percentages.
Surely that must be smokes that come with fire or in other words no fire no smoke !
He must also hates Najib for bringing a non Malay into the board of Petronas and most importantly impeding his billionaire son, Now diminishing only to become a multi millionaire from getting anymore contracts at inflated prices.
That must be the reason why he is saying he wishes he had remained as PM. Just so he will be able to ensure that his acumen-less son will remain as billionaire. It is still not too late for him to run for the PM's job, that is if he will ever get re-elected again to begin with. He will not only be able to get re-elected but I am sure he will also loose his deposit.
Just remember millions will rejoice on the day of your demise and I am sure millions will, despite the ban, lit the fire crackers to show how happy they are and also the world will be a much happier and peaceful place to live.
Just keep stirring up more scandals and scandals that way the people will get to know how many skeletons are there in Umno's closet .
Just wait and see the time will come when Najib will have you indicted, therefore don't try to push your luck too far.

Anonymous said...

Dato the tide is turning, you on the wrong team now

Anonymous said...

http://mymalayblogger.com/2015/05/09/in-defence-of-tabung-haji-writes-lukman-sheriff-alias/

Anonymous said...

locky, locky...you are begging to be roasted alive....
the billion dollar or ringgit question is , if the land is valued at 3000 psf why did the imbecile leaders of this country sell it 70psf to 1MBD ???
The rakyat gets shafted again and again.
Jibby promised transformation....I guess he has succeeded in transforming this once rich nation into a bankrupt one

zainal abidin awang kechik said...

Bang mereka tergamak curi duit negara

Anonymous said...

Is it always about bumiputeras?Shouldn't it be sold on a tender basis to all interested parties?

Anonymous said...

Why dont they (1MDB) give TH reasonable (cheaper) price since they get 7rggt/feet from gomen..? ni baru dikira kebajikan bro rocky

Tanah TRX bukan 42billion! said...

Latuk,apa kena MRCB dengan Tabung Haji?

Latuk macam Latuk Najib...dan Jho Low merapu saja.

Tanah Melayu bagi lah kepada Tabung Haji pada harga paling murah. Ramai lah orang Melayu pencarum Tabung Haji untung.
Duit 188 juta dari Tabung Haji pergi mana di 1MDB.
42 bilion yg di ambil 1MDB mana?
Tanah TRX dan tanah Bandar Malaysia masih di situ kosong. Orang tanya mana 42 bilion hilang. Latuk Najib jawap tu hah tanah TRX muahaha.... bahlol punya melayu...
Hutang 42 bilion