Guan Eng has responded to some of the questions raised over the Bayan Mutiara land deal.
It is learnt that PDC, of which Lim is chairperson, has yet to receive the payment for the land from Ivory Properties, and queries arose about where the RM500 million came from.
When asked, Lim (left) said the developer had handed over the first payment of RM20 million, and the remaining money, which adds up to RM1.1 billion for the parcel of land, will be settled in five years.
When asked from where the state had obtained the RM500 million to pay the PDC for the homes, Lim said the money came from the state’s coffers.
“The state government has the money, after all there is a surplus in its coffers every year. It is not a problem to pay the amount,” he told reporters in Komtar today.
It is learnt that Ivory Properties had also managed to get approval from Bursa Saham to defer its second payment for three months, until May.
Lim said the extension was only for two months and that the developer was liable to pay interest due to the delay in payment.
CM’s enemies have ‘run out of capital’
Meanwhile, Lim said his enemies have “run out of capital”, and have stooped to attack him over petty issues, even those related to an open tender system.
The PDC, he noted, managed to secure the highest bid – RM240 per square foot (psf) when the market price for the land was not even RM150 psf.
“Who else is willing to pay that much? It is an open competitive tender, how can they say it is cheaper? I don’t ever sell anything cheap,” he said.
“How many parties can come up with RM1.1 billion? Of course, we ensure that they have the proper financial backing, too, because there is no point for them to say they can come up with the money, but have no real financial backing,” he added.
Lim insisted that the deal was processed in a “transparent and accountable” manner.
When asked why the price of the land was lower than that for the other parcels of land, Lim said that one must not compare “apples with oranges”.
Market price for the land is “not even RM150 psf”? Hmmm… and the GDV is RM10bn?