Source: Malaysia Today
Since last year, the owner of KLIDC Sdn Bhd, Datuk Tang Yong Chew, has approached several parties to sell off the Taman Manggis medical center project which they paid RM11.5 million for.
That project was awarded by Lim Guan Eng’s Penang Govt in 2010 and six years later not a single brick was laid or a single hole dug. Today, it is still a boarded up field.
The generous Penang State Government has very kindly helped KLIDC increase the value of the project by changing the land usage to commercial land and shockingly approved the change of the land use conditions of the property from 100% medical facilities use only as stipulated in the original tender to 30% medical facilities and 70% hotel and serviced apartments – despite KLIDC not being able to get the project started even after six years.
First ever property transaction in Malaysia where both the buyer and the seller claims they do not know the market value.