So BN forced Putrajaya to sell land... to help EPF depositors? Najib asks Kok

KUALA LUMPUR, Jan 3 ― Former Prime Minister Datuk Seri Najib Razak questioned today minister Teresa Kok’s allegation that his administration had forced government agency Malaysian Rubber Board (MRB) to sell land to state-owned agencies at an RM800 million loss.

Najib pointed out that Aset Tanah Negara Berhad (ATNB) ― which MRB had sold 2,800 acres of land in Sungai Buloh to for RM1.5 billion in 2010 ― was a government-owned company.

The former Barisan Nasional (BN) leader also noted that Kwasa Land, which bought the piece of land from ATNB two years later in 2012 for RM2.28 billion, was a company fully owned by the Employees Provident Fund (EPF).

“This means that Teresa Kok has accused BN of forcing the government to sell government land to the government and after that gave an opportunity to EPF to reap benefits of tens of billions for their depositors,” Najib said on Facebook.

“How despicable of the previous BN government to take care of their cronies, the EPF depositors,” he added sarcastically.

Najib claimed that Kwasa Land had developed the land it bought from ATNB to build a new township, including residences for 150,000 people with a gross development value of at least RM50 billion. He also highlighted the MRT station there.

“The development of Kwasa Damansara in Subang was among the steps in the Greater Kuala Lumpur Strategic Development Project, as per what was announced in the 10th Malaysia Plan,” he said.

The former prime minister said ATNB’s land sale to Kwasa Land in 2012 was at RM18.70 per square foot, which he claimed valuations at the time had described as a reasonable market price.

Kok told a press conference earlier today that MRB was shortchanged by RM800 million through a direct sale of the land to ATNB and that the government rubber research agency has filed a complaint with the National Audit Department.