KUALA LUMPUR: The latest sale of prime land belonging to Keretapi Tanah Melayu Bhd (KTMB) has come under fire from Lembah Pantai MP Nurul Izzah Anwar.
In a press statement today, she pointed out that the eight-hectare site worth RM400 million, located behind the former Unilever headquarters along Jalan Bangsar, was sold for a pittance of RM50 million to Pelaburan Hartanah Bhd (PHB).
PHB is the subsidiary of Yayasan Amanah Hartanah Bumiputera, a foundation set up in 2006 to raise Bumiputera property ownership.
Nurul Izzah, who is also PKR's new deputy FT chief, questioned whether future properties developed on that land would then ultimately be sold to Bumiputeras at a deep discount.
“Who will gain most from the 80% discount that PHB has enjoyed?” she asked. “Would it be the developers or would the discount trickle down to the rakyat when it's time for them to rent or buy the properties?”
She also wondered whether PNB would restrict ownership transfer to ensure that the properties remain in Bumiputera hands.
“Once again, could state institutions and government lands be used to enrich a selected few? I hope that the Bumiputera property policy will not be manipulated the way it was in the Port Klang Free Zone (PKFZ) modus operandi.”
Land could have contributed to KTMB revenue
Nurul Izzah said the land would have been better used as a source of recurring revenue for KTMB. She explained that KTMB could jointly develop the land and have an equitable share of the proceeds.
“The rental of the property itself would provide a sustainable income for KTMB. This is how the MRT services in Hong Kong and Singapore, and the London Underground sustain their railway services for public benefit.”
“In return, this could not only put KTMB back in the black but also encourage lower ticket prices and more efficient services to the rakyat.”
Referring to the KTMB land in Tanjung Pagar, she said this transaction raised similar unanswered questions and is a form of indirect subsidy only for a minority.
While expressing hope that she would be proven wrong, Nurul Izzah promised that she would monitor this development closely to ensure that the people are granted transparency and accountability from the government.
“I'm also going to propose a bipartisan caucus in the next parliamentary sitting to monitor the implementation of Bumiputera policies,” she said. “The caucus will be able to produce an annual report for the public on the results and list of beneficiaries.”
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