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.
Read 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.
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.
Read the full article at The Edge
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?