Bayan Mutiara: Guan Eng reveals tender details

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Responding to queries, Guan Eng has disclosed details of the Bayan Mutiara tender process and how Ivory Properties was chosen.

There is no doubt that the sale for the 102.3 acres of Bayan Mutiara Land done through an Request For Proposal that was:

  • an open competitive tender
  • well published on the websites and newspapers and
  • observed by renowned independent Chartered Surveyors and Registered Valuers, Raine & Horne International at briefing sessions held in Penang, KL and Singapore.

The highest price offered during the open competitive tender was chosen.

When the tender was called in 2010, there were 37 parties that bought the tender documents for RM3,000 each. However when the tender closed on Dec 31 2010, only 4 tender proposals were received. They were:

1.    Chia Tai Xing Ye Industrial Development Ltd
2.    Ivory Properties Group Berhad
3.    AG Pearl Sdn Bhd  (Disqualified due to non submission of Earnest Deposit of RM1.2 million)
4.    SP Setia Berhad

The following cash proposals were received:

As Ivory made the highest offer at RM240psf or a total sum of RM1.072 billion, it was chosen. The state government further requested Ivory to improve on the payment terms of RM240 psf over 8 years payment to RM240 psf over 5 years payment. This was accepted by Ivory.

Payment Period 3 years 5 years 8 years
Ivory Properties RM215psf RM240psf
SP Setia RM180psf RM210psf RM225psf
Chia Tai Xing Ye RM200psf

As Ivory made the highest offer at RM240psf or a total sum of RM1.072 billion, it was chosen. The state government further requested Ivory to improve on the payment terms of RM240 psf over 8 years payment to RM240 psf over 5 years payment. This was accepted by Ivory.

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Atila

Anil, have you ever thought who is the 3rd person behind scene benefitted from this sale?

As I See It

Actually, I don’t care if LGE made a mistake or not. After all, isn’t he human just like us? It is still 500% better than the last government. The key point to improvement is to keep corruption at bay. That I think, is LGE’s secret to successful governing.

GITA BAYU 4-2PARTY

The truth hurts ! Yes the truth hurts ! Linsaniti non-observance of caps rule drew no tantrums !!!!!!!!!! Be man enough to face the reality otherwise just get out of the unbearable hot stuffy KITCHEN ,just like the UNCLE SAM loves to describe !

GITA BAYU 4-2PARTY

MP KOTA BELUD ,,,,,,,,,,,,,INCESSANT TWEETS ,,,,,,,,,,,,ONLY EXPOSED HIS KNOWLEDGE OF BURSA MALAYSIA RULES AND REGULATIONS ,,,,,,,,,,,,,IS ONLY AT PASAR MALAM LEVEL ! QUIT ? RESIGN ? YOUR GUESS IS AS GOOD AS MINE ! HAHAHA .,,,,,,,,,KAHKAHKAH !

Gerakan K

Complaint !!! Complaint !!! Complaint !!!

Why you allow GITA BAYU 4-2PARTY comment in all capital letters ??? Just because he is Pakatan fanboy, you can bypass the rule for posting comment. If that is the case why bother to set rules ???

MMC

someone throwing tantrums?

Kometenmelodie

What a pathetic reply ! Instead of coming clean and fully explain the questions raised by public, again LGE chose to mislead people and attack the critics. There were so many questions yet LGE just refuses to answer.

I can’t understand why LGE keep insisting this was an open tender despite the fact that it was a RFP. There is indeed a big difference.
Secondly,it was reported that there was a rebidding. But LGE did not mention it.

The attitude of DAP apologists here also shameful, defending their hero to the end of the world at the expense of rakyat.

daniel

all the while BN where got open tender their project like NFC?

MMC

why dont you go and defend the RM2.2b highway awarded to the ex-CJ family and UMNO lawyer without any tender. any RFP?

not forgetting RM250m cows for condos without tender. any RFP?

tip of the iceberg eh?

look who is pathetic now.

NK Khoo

What PR should do is to standardize open tender process like ISO9000 document and make it a legal document.

linsaniti

NKKHOO PENANG GOMEN DOING THINGS PROPERLY & EFFICIENTLY STEP BY STEP AND RESULTS ARE CLEARLY SHOWING FOR BARANG NAIK FOLKS TO FOLLOW AND CATCH UP

NK Khoo

Nope, sPICE is a mess-up.

LGE has to buck up in open tender transparency to or beyond Singapore standards.

fair deal

Stupid NK Khoo, you should be asking BN to follow LGE example not to suggest this and that stupid idea of yours. If PR is corrupted, just accept the quoted price and pocket the difference instead of negotiate for a better term and value for Penang people after tender is opened. BN on the other hand don’t even bother to have any tender of explain how Mega project is awarded to former chief justice. So speculations of opposition or ordinary people cannot be too wrong. Corruption to the core! Any body still supporting BN are really stupid.

Indit

Okay, now over to you Najib. Let us see the details of the tender to former CJ wife and Umno lawyer on the 2.2 billion thingy.

linsaniti

see today’s The Star page 21 :Penang to seek proposals for projects

RFPs (open tenders) for 4 mega infrastructure projects totalling RM8 billions next month..

So barang naik folks like Hock None better submit your tenders and don’t kau beh kau boh later claiming unfairness !!!!!

Desmond Lee

Who is the BN Umno guy in Penang who accuse LGE of No Tender and Nego and that he will resign if there is Tender..? Will he resign now…? or CHICKEN OUT…!!! I wonder…!!!!

Yang

We have an idiot in Jessie Ooi. Now we have another one in GK. Selling at 240 per sq ft and you call that undervalue. Ask any valuation company whether it is. You help me I help you was what Najis is doing using our, yours and the people hard earned money. Soon the country will be bankrupt. Penang under Barang Naik have deficit years after year. Under PR MPPP & MPSP recorded surplus for the past 3 consecutive years. We have tried 4 years and we are better off than 53 years. Not only that, Penangite now has got… Read more »

MMC

not only Barang Naik

Bankrupt Nation sekarang.

ex-CJ and UMNO lawyer know how to run highway ah? RM2.2b highway awarded to UMNOputras with no tenders. Ooi, Gerakan where r u?

Gerakan K

I’m so disappointed with Dap’s “money money money money” principles of managing Penang. Soon everything valuable will be for sale cheaply. The deal should be REJECTED because it’s UNDERVALUED. Really undervalue. AND I expected that after this transaction, there will be plenty of “I have you, you help me” actions by the rocket. Wow, now state pocket got plenty of money. Give it away !!! Give it away !!! Imagine this trend continuing for next term. There is nothing left for the public forever. All valuable piece of things just belong to private-for-profit-organizations in exchange for more “you help me,… Read more »

Andrew I

Why don’t you answer the questions posed by Super Senior and not create another one of your fantasies to annoy us with? You’re really beginning to sound like a broken record which no one wanted when it first came out.

Leithaisor

So can we now expect Zainal Abidin Osman and Abdul Rahman Datuk Dahlan to tender their resiognations with delay?

Or will they attempt to worm their way with all sorts of excuses?

Super Senior

BN should spend on the NFC issue, why the RM250 million was misused.

Yang

So please shut up if you don’t know anything Penang UMNO … and their Gerakan lap mate Teng.

bigjoe

Unbelievable how much LGE has go through on this thing. To think that LGE, an accountant with all the highly technical people surrounding him would be so obvious even to screw this up when he is under pressure to deliver. Its literally insulting to LGE ability that he would be caught with such a simple corrupt practise..

And people wonder why there so many Hasan Ali, Khir Toyo, Ezam, frogs etc. around..

Andrew I

Nice touch bringing in chartered surveyors and valuers. So I suppose we have to question their credentials as well, like those of foreign pathologists and DNA experts, isn’t that right, Gherkin?

Sam Kin Kit

This is what we called accountability!

Super Senior

We should question why the lucrative RM2.2 billion highway contract in Perak was awarded to companies linked to former Chief Justice Tun Zaki Azmi and Umno lawyer Datuk Hafarizam Harun (the two key figures in the Perak constitutional crisis of 2009)?

Any open tender?

Umno care to explain?

NK Khoo

Let put all bidding and tender documents in the state government website for the public members to access and view them.

May be password accessed control if LGE does not want non-Malaysians to access them through separate password application with the state government.