Penang Chief Minister Lim Guan Eng revealed that all land transactions relating to 1Malaysia Development Bhd (1MDB) in Penang will remain frozen until the federal government-owned entity clarifies the ownership of the land it claimed to have acquired in Air Itam, reported The Edge.
Two years ago, he underscored that, as per record, 1MDB only obtained 20 percent or 23.47 acres of some 116.89 acres of land it jointly acquired with other buyers in Air Itam for RM1.06 billion in 2013.
This was because the state records showing that the remaining 117.1 acres of the 234 acres that 1MDB claimed to have acquired in Penang could not be located, he said.
Now, Lim said all land transactions involving 1MDB are frozen, until the latter has clarified its ownership of such land.
“We have asked 1MDB to explain to us several times but they have not done so till now,” he added.
Lim’s statement follows the announcement made by Prime Minister Datuk Seri Najib Razak that 1MDB would transfer the Air Itam land equity to the Ministry of Finance by 31 December 2017.
Image sourced from Educational Geography
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