Over 95pc of TRK developer’s RM115m payment made to government, YWP, say TTDI residents

Leon Koay of the Save Taman Rimba Kiara Working Group speaks during a press conference in Kuala Lumpur December 17, 2018. — Picture by Choo Choy May
Leon Koay of the Save Taman Rimba Kiara Working Group speaks during a press conference in Kuala Lumpur December 17, 2018. — Picture by Choo Choy May

KUALA LUMPUR, March 27 — Taman Tun Dr Ismail (TTDI) residents disputed today Federal Territories Minister Khalid Samad’s RM150 million estimated compensation for any cancellation of the Taman Rimba Kiara (TRK) condominium project.

Save TRK working group coordinator Leon Koay pointed out that according to Memang Perkasa’s statement of account filed in the ongoing court action against the TRK project, the developer had only paid RM115.4 million, out of which 95.6 per cent was paid to government agencies.

“Note that this is the developer’s statement of what has been paid. It is not a claim for compensation nor has the court recognised any of these amounts as qualifying for compensation,” Koay said in a statement.

According to Koay, out of the RM115.4 million Memang Perkasa paid, RM84.4 million was paid to the Kuala Lumpur City Hall (DBKL) and to the Land and Mines Office Wilayah Persekutuan (PTG WP) for development charges and land premium respectively.

Another RM26 million in joint venture payments was paid to Yayasan Wilayah Persekutuan (YWP), a foundation owned by the FT Ministry which is chaired by Khalid, for Memang Perkasa’s joint venture with YWP in the TRK project. Memang Perkasa is a subsidiary of public listed property developer Malton Bhd.

“These two categories alone amount to RM110m already. If the project is cancelled, these amounts would be refunded in exchange for the 12 acres being returned. These would be refunds, not compensation.  

“As for actual amounts expended on the project in the form of contractor and consultant payments and other miscellaneous items, as of Nov 2017, these amounted to about RM5 million only,” said Koay.

In highlighting these discrepancies, Koay hoped that the Cabinet received a fair and accurate picture of the transactions that have been carried out in relation to the TTDI park.

Khalid said last Sunday that the Cabinet would decide on the TRK project, amid a lawsuit filed by TTDI residents[a] against the luxury high-rise project that they contend infringes on the park.

He had also claimed that cancelling the project would force the government to pay the developer more than RM150 million in compensation.

Segambut MP Hannah Yeoh, who has relentlessly campaigned to get the project cancelled, yesterday expressed shock at Khalid’s figure and called the RM150 million sum “imaginary”.

Khalid then disputed her statement and said that DBKL would be the one responsible for compensation as it had granted the development order to the developer.

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