Abad Naluri’s deposits seized; now what, PDC?

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After the PGCC fiasco, the end of Abad Naluri’s interest in the Turf Club land (and its plans for a new racecourse in Batu Kawan) draws closer. The Turf Club has seized RM4.5 million in deposits from Abad Naluri after the company failed to start work on a new race course.

This from the NST:

“Abad Naluri has until March 30, 2011, to complete the RM375 million PIEC project,” Ong said after the club’s annual general meeting yesterday.

The company entered into a RM488-million agreement to build an ultramodern racecourse in Batu Kawan in exchange for the club land and to pay the difference of RM103 million to the club. The developer paid the club RM10 million after signing the original agreement.

It had proposed to redevelop the club land into the Penang Global City Centre (PGCC), a project that has since been scrapped.

The two parties signed a supplemental agreement on April 1 last year on a timeframe for the developer to complete construction of PIEC.

It is good to see the Penang Turf Club taking the right steps to enforce the conditions in its agreements with Abad Naluri.

My question now is, what is PDC doing about its agreement with Abad Naluri for the latter to acquire the Batu Kawan land on the mainland for a new racecourse? The race course work had barely started. Has Abad Naluri paid for the land? Surely, there were conditions in place when Abad Naluri signed a principal agreement to acquire over 1,000 acres of land. Have those conditions been fulfilled? If the PDC were to take back the land, we would have space for a public park (and not another golf course, I hope) on the mainland….

Patrick Lim’s Equine had sold of its interest in Abad Naluri some time ago to an obscure third company. I believe Patrick was just the “front man” for the PGCC project. His Equine only owned 25 per cent of Abad Naluri. Who were the remaining 75 per cent Abad Naluri shareholders back then acting for? The Penang Turf Club could give us a clue by revealing who signed Abad Naluri’s tender bid letter for its Batu Gantung land in 2002.

Meanwhile…

Where is Bala?
Where is RPK?
Where is Patrick Lim?

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Atila

I wonder…

what if PR state govt on Penang were to revive PGCC according to all the guidelines and the rules and regulations under a new developer name? hhmmm….

veryupset

Firstly…., ask yourself WHY are these people so easily “granted” all these richness….!!!!!!! What ever approval they want, project of this & that, money laundering, etc…, etc…., its easily approved by “the powers to be”…! Why do they have it sooo….. easy???????????? For small & medium business, they are always given a hard time..!! Why is that so..? Money too small, I guess…… Where is RPK ??? Hopefully out of Malaysia..!! London will do him good. Where is Bala ??? That fella can go to “HELL”…!!! Why must he go MIA if he’s NOT wrong…??? Is our police looking “hard”… Read more »

maw

hi,if you meant … khairy,then he should be in rembau cos bik mama recently launched permata in his absence.so he has alot of to jaga jaga now.rpk,my prayers are with you and family.bala is high time for you not to play disappearing act,get connected with someone who could help you to reveal the truth.hope your family here could shed some light.

Muhammad Firdaus Christopher

Hey, Going Green,

I was having lunch today at Shangri La as well but didn’t spot the likes of KJ and/ or Patrick. Are you sure or was that a fast one ? Or maybe I was blinded by some rather nice chicks at the next table from mine 🙂

FYI, I was there between 11.45 – 2.00pm

Muhammad Firdaus Christopher

telur dua

There’ll be years of litigation to come.

Leong Yook Kong

Hopefully, Penang Government shall not be liable to pay more than RM29 million to Tang Hak Ju legal case. Who shall be accountable to deposit RM14 million with the court? If not for this wastage, the people of Penang can enjoy certain discount of quit rent from the government at this time of depression. The people of Penang are very unfortunate because they should have voted out BN ages ago.

DAP man

I hope RPK is safe in a foreign country and stays there till BN is toppled.
Bala? We have to ask Najib.
As for Patrick, yes,who cares. He can go to hell for all that I care.

Going Green

Where is Bala???
ANSWER: He’s now milking COW somewhere in India.

Where is RPK???
ANSWER: He’s somewhere in Malaysia …. He needs BIG TIME COVER-UP cos he’s WANTED. Hope he goes to JAIL soon for writting too much RUBBISH.

Where is Patrick Lim??
ANSWER: He’s currently having BUFFET LUNCH with KJ at Shangri La Hotel (KL). This I CONFIRM!!!

Tuah

KTK is hiding behind his KPI to avoid explaining the scandals in Penang….

Kenn

“Where is Bala?
Where is RPK?
Where is Patrick Lim?”

Where is RPK is not important. We only know that he is safe somewhere out of the clutches of those who want to imprison him unjustly.

As for Patrick Lim, who cares?

But Bala’s disappearance is puzzling and is very significant. How can a family just disappear like that?

PT

One year on, we are still waiting for KTK to provide us with an accountability on the various land scams in Penang.

For a list of the scams, take a look at :

http://www.khookaypeng.blogspot.com/