Desmond Has A Barrow In The Market Place

The first thing that came to my mind when I read THIS ARTICLE in Malaysia Today was the song Obladi Oblada, a song written by Lennon/McCartney and released by The Beatles on their 1968 album The Beatles hence the post title.That article piqued my curiosity about Desmond Lim so I surfed the net to find out more about this man.

Back in November 2008, bnet reported HERE about Desmond Lim’s links with Equine Capital.

On 13th of May this year, The Edge reported HERE that the cabinet has agreed in principle to entrust the task of redeveloping the Sungai Besi Royal Malaysian Air Force (RMAF) base to a consortium of companies that include 1Malaysia Development Bhd (1MDB), sources say.

The other members of the consortium are Lembaga Tabung Angkatan Tentera (LTAT) and Datuk Desmond Lim of Malton Bhd, they say. It cannot be ascertained if Malton or Lim, through his private company, has a stake in the consortium. The mandate of the consortium is to develop the 162-hectare site into a multi-billion-ringgit Islamic financial centre in line with the government’s plans to enhance Malaysia as a regional Islamic financial centre.

The Sungai Besi airport, which served as the country’s first international airport from 1952 to 1965, was eyed by many parties as it is probably the last major tract of land that is located close to the city centre and has the potential for a multi-billion-ringgit redevelopment. It borders the Sungai Besi Highway at one end and Taman Seputeh and Istana Negara at the other.

“The decision to develop the base into an Islamic financial centre was made by the cabinet recently. It was with the view of promoting Malaysia as an Islamic finance hub in this region. It will ultimately create a platform for all Islamic finance-related institutions to set up base,” said a source. Click HERE to read more.

Six days later, Anita Gabriel of The Star reported HERE that the Government will transfer ownership of the prized land in Sungai Besi, currently the base for the Royal Malaysian Air Force, to 1Malaysia Development Bhd to be developed into a multi-billion ringgit commercial project, akin to an “urban renewal project,” said a source.