Najib told to explain land deal that cost rubber board RM780 million


Najib Razak was the finance minister when Finance Ministry special purpose vehicle, Asset Tanah Negara Bhd, made a RM780 million profit from the sale of rubber board land to Kwasa Land Sdn Bhd. – Facebook pic, January 14, 2019.

FORMER prime minister Najib Razak must explain why there was a need for the Malaysian Rubber Board (MRB) to sell a prized plot of to a Finance Ministry special purpose vehicle, Aset Tanah Negara Bhd (ATNB), instead of the ultimate buyer, MRB chairman Sankara Nair said.

MRB had no need of funds at the time and had no other reason for the sale, which caused it to be shortchanged of RM780 million after buyer ATNB sold the land to Employees’ Provident Fund subsidiary Kwasa Land Sdn Bhd for RM2.28 billion. ATNB had bought the land from MRB for RM1.5 billion.


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Comments


  • The govt can Just audit ATNB and see if the 800m is still there or already siponed off

    Posted 5 years ago by Boll Loxx

  • Please keep pushing this issue....he must pay for this misdeed. Don't let go.

    Posted 5 years ago by Lipdah Lia

  • Najib intentional did not answer the question because he has no answers. To say that EPF ultimately benefited is incorrect! This is yet to be determined.
    1. When ATNB acquired the property and sold it at a far higher price to EPF, he has actually caused EPF to spend more of its members money to buy the property. The extra money that EPF paid for the property could have been invested in another project to generate additional returns.. In this case it was an opportunity cost for EPF.
    (I think all EPF members including the union representatives who sit on the EPF Board should report this issue and raise it with the relevant authorities. It is abuse of EPF funds).

    2. What happened to the excess profit made by ATNB? There should be an forensic investigation on the money trail by MACC ti determine the ultimate beneficiary of the RM780 million..

    3. Bernard Dompok is pushing it back to the Government, saying its a government directive. Doesnt he realise that he IS THE GOVERNMENT! If there is any wrong doing, he then could be liable for abetment!

    Posted 5 years ago by Kampung Boy