Why the monarchy isn’t any better than democratically elected leaders (when it comes to selling off public land for their own benefit)

It seems that Sultan Johor has sold off 116 acres of prime land on the Johor Bahru waterfront (where the old Customs, Immigration and Quarantine was sited) to a China-based developer. So there you go, public land being sold off not just to any developer, but to a foreign-based developer.

johor landRead the full article at The Star Online 

Malaysians used to joke that Johor was being annexed by Singapore, turns out even China is getting in on the act. Pretty soon, there won’t be any land in Johor belonging to a Malaysian.

developerschina

I wonder why the Sultan managed to sell the land so much higher than the government could – RM890 per sq vs Iskandar Waterfront Holdings who only managed to sell RM363 per sq. It is even more remarkable when supposedly there is a softening in asset prices at the time when the Sultan sold off the land. Good for him that he has super negotiation skills, but it doesn’t benefit the people of Johor one bit.

the edgeRead the full article at The Edge 

sultan johor bts deal
Read the full article in The Star Online 

The Sultan of Johor has also acquired 20% stake in Berjaya Times Square Sdn Bhd for 250 million cash. CASH!! How many people have one million ringgit cash, let alone 250 million ringgit cash?! Gah…

So Sultan Johor dipped his dirty hands in dirty Berjaya in order to develop casino and resorts on the Johor Bahru waterfront, supposedly one that would rival Marina Bay Sands, Singapore (hahahaha). Hmmm.. so tell me again why Sultans are the head of religion? 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s