GEORGE TOWN, Jan 14 – Penang Chief Minister Lim Guan Eng hold a press conference on Wednesday at his office, Komtar here said that the Penang State Government will not approve the any transaction of land which involving 1Malaysia Development Berhad (1MDB) in the state unless strategic sovereign wealth fund clarifies all the land ownership issues.
“For the first time, 1MDB CEO K. Arul Kanda has admitted that they purchased a land in Air Itam with the total cost of RM1.3 billion but can’t get 100% ownership. The cost for Arul to pay is higher while the price that they pay for this land are complete lost due to without 100% ownership. In the meantime, there were also no local government will approve any development plan if there was no 100% agreement from owners to develop the land,” he said during the press conference.
