Bank Negara overpaid for Finance Ministry land, say property valuers


Proceeds from the land deal between Bank Negara Malaysia and the Finance Ministry were used to service 1Malaysia Development Bhd’s debt obligations. – The Malaysian Insight file pic, May 30, 2018.

BANK Negara Malaysia overpaid for the land it bought from the Finance Ministry for RM2.066 billion, said property valuers polled by The Star.

The proceeds from the sale of the 27.27ha plot were subsequently used to service 1Malaysia Development Bhd’s debt obligations.


Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one (1) week free access!

Subscribe Now!


Sign up or sign in here to comment.


Comments