Part 19: Can the MACC explain this?

The Urban Development Authority (UDA), in joint-venture with Timang Saga Sdn Bhd (who holds 70%), will be developing the site of the old Pudu Jail in Bukit Bintang, Kuala Lumpur. The project is estimated to be worth RM6 billion. Timang Saga is asking those who wish to participate in this development to pay the RM132 million land premium, pay ‘expenses’ of RM5 million, contribute to a RM250 million ‘fund’, plus offer them shares in the company. That is RM387 million in total, not including the shares in the company. How was this project given to Timang Saga and has the MACC opened a file on the matter or has the file been marked NFA even before it was opened?


Raja Petra Kamarudin