atans1

How to squeeze Tun’s balls real hard

In Malaysia on 14/12/2018 at 11:12 am

And make him cry “Uncle” without sinking a M’sian ship is what I promised as an alternative plan in Why sink a M’sian vessel.

As a result of the railway land deal between the two govts when we had a friend in KL, two pieces of prime property were developed here for mutual benefit in exchange for the rail corridor etc.

The land is worth S$11bn or thereabouts. And M’sia’s share is 60% ie S$6.6bn. Seems M’sia wants to sell out.

Just tell M’sia that we won’t be interested in buying them out until Tun backs down on the territorial dispute (and revert to status quo without prejudice to the claims, as per our suggestion). S$6.6bn is a lot of money for a poor, indebted country whose military aircraft are not maintained because there’s no money. And where finance minister has to find the money to pay for election promises: promises made expecting not to win election.

I’ll let our best friend in KL (and Trump’s golf kaki) explain the details.

“As a result, the agreement and the KTM plots of land were left like that for 20 years without a single sen earned,” he said. [He was talking to Tun’s refusal to go ahead with what was agreed with S’pore over the railway: me]

The former Umno president said the land were initially given to KTM in 1918 under the Railway Act at the time.

The plots were on 999-year lease, and its use was only limited to railways. It could not be developed or used for other projects.

Najib pointed out that most of the plots were too narrow because the railway tracks were by nature not wide.

“If Singapore does not agree with us and does not convert the land use, those plots of KTM land will just be left to rot.

“You wait another 999 years, it will not bring a single sen to anyone. Moreover, we will need to pay land tax to Singapore,” he said.

Najib said in 2010, he then negotiated with the Singapore government and reached a new agreement where the city state would give four land packages at Marina Bay (nearby Marina Bay Sands) and two packages at Ophir-Rochor, as an exchange for one land package in Tanjung Pagar, one package in Kranji, one in Woodlands and three packages in Bukit Timah.

He said anyone who knew Singapore would know that the land in Marina Bay is the most valuable in the country, while Ophir-Rochor is Singapore’s new central business district.

“It is far more valuable than the land in Bukit Timah and Kranji,” he said.

The plots of land, Najib said, were jointly developed by Malaysia and Singapore, under M-S Pte Ltd, where 60% of the ownership is placed under Khazanah Nasional Berhad.

The project in Marina Bay, named Marina One, is valued at S$7 billion (RM21.3 billion), while the Ophir-Rochor project is valued at S$4 billion (RM12.2 billion).

He said both projects were successfully completed earlier this year, bringing handsome returns to the country.

“The Marina One project is 3.67 million square feet, covering two 34-storey luxury towers, two 30-storey grade A offices and a shopping mall known as ‘The Heart’.

“Many well known companies such as Facebook, PwC, Grab, commercial banks, among others, have moved to Marina One and they have begun paying rent to a company owned by Khazanah, which will guarantee continuous long-term returns for us,” he said.

Najib said several months ago, Singapore media had reported Khazanah, under the Pakatan Harapan government, was negotiating to let go of a 60% stake in M-S Pte Ltd to the Singapore government.

“Even though the government has denied this, I expect that not too long from now, they will eventually sell it, giving the reason that it is a non-strategic asset,” he added.

https://www.freemalaysiatoday.com/category/nation/2018/12/06/najib-it-wasnt-me-who-sold-tanjung-pagar-land/

Najib’s a decent man. Too bad about his wife. He’s juz another Macbeth: a good, decent man led astray by his wife.

And squeezing Tun’s balls the financial way has the merit of allowing competent ministers to run the show: PM (remember he was finance minister once), Tharman (the ang moh tua kees still think the sun shines from his ass) and Heng.

It’ll keep matters away from our paper generals: think Kee Chiu (Kidding me? Kee Chui potential PM? He from RI?), and Desmond Kwek (Why PAP govt don’t dare sink a M’sian ship.)

 

 

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  1. […] Thoughts of a Cynical Investor: How to squeeze Tun’s balls real hard […]

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