The mainstream media have been reporting that Malaysia and Singapore have ended their deadlock on key issues – but have all the prickly issues raised by Mahathir in the past been resolved?
Could we have the valuations for all the plots of land concerned so we know it’s a fair deal.
The Star reports that the key features of the latest round of talks were:
> Relocating the KTM railway station from Tanjung Pagar to Wood-lands;
> Setting up a joint company M-S Pte Ltd to develop six parcels of land in the republic; and
> Developing a rapid transit link between Tanjung Puteri in Johor Baru and Singapore.
Both leaders also agreed that Khazanah and Temasek will form a 50-50 joint-venture company to develop an iconic wellness township in Iskandar Malaysia.
The other question is why wasn’t all this discussed in Parliament first? Wide public consultation, at least in Parliament, is needed on issues involving sovereignty, national and public interest.
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I wish people will look at the bigger picture. Cooperation between Malaysia and Singapore to improve the economies of both countries is long overdue. Like it or not there is a great deal of interdependency on each other. We have common legacy and there is no reason why we cannot work out a way so that we will have a win-win situation. In the first place the breakaway of Singapore from the federation would not have happened had it not been for egoistic politicians messing things up. Malaysia together with Singapore as one nation would have been the richest country… Read more »
Reunion possible ???
So you suggesting we keep land values in JB low forever? Stop development? Remain in the 1970s? Please elaborate….
Malaysia is a big winner in all of this. Think a bit bigger than the KTM land. Also longer term. With resolution of this long sticking point, Singaporeans will now invest in Iskandar. They have been notably absent. Land values in JB will appreciate and there will be more jobs in IDR, for everyone. Already in 2011-2012 you will have the Malborough School, Pinewood Studios, Legoland, Chelsea Premium Outlet (developed by Genting) and many others, developed by Khazanah. Forget the Arabs, what is more important is the Singaporeans. IDR / Johor can genuinely be a boom area where the residents… Read more »
Err, what happens when land values in Johor appreciate, pushing house prices beyond the means of ordinary Johor wage-earners? Still win-win?
Using your logic, the Japan (house price is VERY high) is a failure and North Korea (very CHEAP) is a successful ones ??? Err, Kelantan also the successful one and Penang (island) is the failed one ???
Noticed your intention in this issue ???
Those who keep asking why give up 40% of land to Temasek don’t get it that Singapore have highly draconian eminent domain laws. Its perfectly legal for Singapore govt to kick out KTM and pay peanuts for the land. Many land owners in Singapore have suffered that fate. Its just politically crappy to do so.
The big issue is really what they are going to do with the money from the deal. Not the deal itself.
Enbloc approved by the authorities here for Spottiswoode Park was S$100.8million. This place is adjacent to the the Tg Pagar train station. The developer who bought this land is planning to build about 200 units 1 and 2 bedroom units and sell for a min of S$1,500psf. land cost plus development tax per unit is abt S$860 psf. Current construction cost is abt S$250psf. Do your calculations then for the potential of the Tg Pagar train station land.
Many outcries about Malaysia been short change. I think they do not know that the land that KTM have is only for rail use only and there is condition that if there is no rail service, the land will be taken back. Just like a storeroom in the most expensive hotel, there is no value to it, unless it convert into usable space and rented out. Singapore do not need the rail service now. Just take a look at the KTM services and you will know that KTM must be running losses with empty cabins. With the land swap, the… Read more »
Well said Fairplay
The fact mentioned by you already reported in today NTV7 news.
As I said earlier that our 1Malaysia PM Najib is the man to lead us to better future. He can do the impossible.
The noisy rocket can shut up now.
Tee Keat: KTMB land swap a win-win deal
(http://www.themalaysianinsider.com/malaysia/article/tee-keat-ktmb-land-swap-a-win-win-deal/)
Luckily we have brilliant 1Malaysia PM Najib and PM Lee of Singapore.
Land dispute between countries can lead to endless wars and conflicts. Look at Palestine-Israel conflicts[1]
Reference:
[1]The Israeli-Palestinian Conflict in a Nutshell
(http://www.mideastweb.org/nutshell.htm)
What about the issue of CPF Savings withdrawal for Peninsular Malaysians who formerly worked in Singapore and their CPF money cannot be withdrawn until they reach 50 years of age? IT was part of the negotiation package. Has it been forgotten?
Lee
Well, you can ask LKS and LGE to raise the issue when they meet up with their buddies in Singapore.
Our goverment are lousy negotiators!
The company formed a GLC to discuss territorial right and control which rightly should be debated and passed by parliament. The formation of a GLC by the executive by passes all legislative controls and debates in parliament even though billions of ringgit may be involved.
Malaysia has no more upperhand in any future discussion with Singapore, they already reclaimed everything back!
Lee Kuan Yew can now go … happy. No malice intended, Senior Lee is indeed a very happy man now. Junior succeded in doing what he couldn’t. Double happiness.
Is Tanjong Pagar a Malaysian sovereignty?
Is yes does a piece foreign govt owned land/ buildings eg embassies a “sovereignty” of the foreign country?
If no, then it is a commercial entity and could it not be treated as one i.e.in this case swapping Tg Pagar with an commercially equivalent at Woodlands and the 6 parcels of land?
I am more concerned as to why it was not discussed in parliament and who are the beneficiaries for the development of the parcels of land. And whether we have been given a raw deal to vacate the extremely valuable Tg Pagar.
Anil From every comments I have read, none even raised a single valid point. As for the valuation, I did speak to a few friends in Singapore who are pretty senior in the Real Estate industry and their valuation of the land is around $ 750M to $1 Billion SGD. In fact if we develop the land ourselves, the returns could be much larger. The Singapore market is in good shape now and with the Sentosa IR just starting this is indeed a very opportune time for us to strike a deal. There is absolutely no loss in this deal… Read more »
Darling, Are you sure the information you got from your friends are correct? I do not think Najib will exchange those 278 hectares of land for SGD 1 billion, darling. You see the Penang Turf Club land which is 250 acres in size is worth RM2billion after rezoning darling. And if allowed to be developed it will be worth 25 billion! What can SGD1 billion do to offset the national deficit of 363 billion, darling? Just imagine what the cost of money on 363 billion is like per year? The 278 hectares of land will definitely be worth tens of… Read more »
O I am sure my friends know what they are talking about as they are VPs and directors in world class real estate MNCs. You are free to do your own checking. I think you are confusing between the valuation of the land and the returns when the land is developed. The returns on the land development depends on what you want to build there. Obviously a high-end condo and offices will fetch billions while leaving the land as it is now will yield nothing. For years both parties were in a Mexican stand-off as Singapore will not allow Malaysia… Read more »
How come i have a feeling that someone is selling all our country assets and packing up to leave?
Or is that someone selling off our country assets before the assets fall into the opposition hand?
Anil I have to disagree with you on this. Firstly you have confused the role of the parliament and the government. The role of the parliament is as an oversight, passing laws and bills and also taxation issues. The role of the govt is in administration and policy formulation. You cannot have the parliament dictate the foreign policies or set negotiating terms. Especially so in this issue, even having the issue debated in the Parliament can be damaging and counter productive to the national interests as our negotiation positions will be revealed to Singapore. Furthermore, with a bunch of brain-dead… Read more »
Darling,
Be more proactive darling.
It is because of people like you, MIC, is in such hot soup today. Look at Chitrakala.What shall we do? Vel said UMNO is behind the problems in MIC. What do you think?
I gotta believe Vel, as UMNO Baru did the same to MCA. You know Vel said the bus that is loaded with Indians are driven by UMNO. So gotta be careful.
Will you be at PWTC this weekend? By the way, is PWTC booked by UMNO Baru for GAS?
Do check it out ok?
Many thanks.
Well O
As I had said earlier, if I were you I would rather worry about your backyard of Kedah where the govt is hanging by a thread.
I am sure MIC and BN can resolve their internal issues.
Perhaps your constant attempt to divert the issue is probably driven by a desire to hide the problems at Kedah ???
Gerakan K
Are you a Singaporean first and Malaysian second? With Malaysian like you, we can even sell our soul to the devil (and our country as well).
First of all, please read Fairplay comment
Secondly, this is joint-venture between Malaysia (60%) and Singapore (40%). No question of buying and selling.
I think our 1Malaysia PM Najib can solve Israeli-Palestinian conflict. He has been proven to turn conflict into opportunities.
Gerakan K,
Yes and … Remember the French submarine deal that cost more than 100 millions from the original price.
And the stake is so high that some one need to be got rid off.
How I am not surprised if the Singapore government managed to get the bargain deal by swapping (a certain) film negative … 🙂
And until now Singapore is holding Peninsular Malaysian Workers Central Provident Fund (CPF) as a ransom in their bilateral talk. Why Nothing had been done by our leaders to negotiate it back? Why should KTM land comes first in their bilateral talk?
Maybe the Singaporeans slipped a DVD under the PM’s door showing a CCTV recording…?
Adakah kita sudah rugi apa-apa ???
Tolong jawablah sesiapa. Kee apamacam ???
Gerakan K,
Sokong! Betul kata Gerakan K, Malaysia langsung tidak rugi apa apa. Selepas tanah tanah Malaysia berkongsi dimajukan oleh M & S, kepunyaan siapa hak milik tanah tersebut? Hak Milik Gerakan ke?
Setelah dapat berbillion RM, (kalau) hak milik ditukar kepada hak milik kerajaan Singapore/syarikat syarkit gergasi Singapore, Temasek Holdings, nilai tanah tersebut akan menjadi berbillion billion dolar Singapore!
Selepas pengalaman Block L & M di Brunei, masih tak paham lagi ke, siGerakan K? Tanah pun telah hilang selepas “kerjasama” ini, masih lagi tidur ka?
Engkau ni bila saja akan bangun? Bila? Hallo, Mr. Tan, bangunla!
Banyaknya andaian kamu ni. Tetapi andaian kamu tu tidak akan berlaku.
OK, jika betul-betul penukaran hak milik itu berlaku, tahu tak Khazanah itu sama dengan Temasek Holding, milik kerajaan.
Jadi, keuntungan akan kembali kepada rakyat dan bukan individu yang tertentu.
Najib like UMNO will always say, Why should I discuss in Parliament or have any public consultation on the above matters. After all I can always use money and position to buy all of you.
Why did Mahathir keep mum on the KTM issue when all along he has been a vociferous opponent against Singapore on all these issues especially when Pak Lah was in power.
WELL WELL ITS SO SIMPLE. HIS SON WAS APPOINTED A DEPUTY MINISTER. THIS SHOW THAT HE IS JUST A HYPOCRITE …
Laut digadai…
Minyak digadai…
Tanah digadai…
All our PMs, present and previous, so, selepas GADAIAN, $$$ pergi mana??? …
The time has come and progress cannot wait any further !
Why debate the issue further in parliament ? You must have heard of this too many cooks spoil the soup….
Pak Lah gadaikan pelantar minyak, Najib gadaikan Tanjung Pagar! Adoi, habis semua tanah & laut kita digadaikan!
Seluar dalam pun di gadaikan(?)
Malaysia Boleh lah.