KUALA LUMPUR – The Lembaga Tabung Haji (TH) had missed a chance to rake huge profit when they made the decision to sell the TRX land as a part of their rehabilitation and restructuring plan, former Prime Minister Datuk Seri Najib Razak alleged.
He also made a comparison with construction company, WCT Holdings Bhd. (WCT) which bought a piece of land with the same plot size as the asset owned by TH, but at a higher price.
Najib also quoted statements from analysts, who gave great remarks for the project owned by WCT.
The RM1.1 billion condominium project by WCT is said to be reasonable, but the Pakatan Harapan government cancelled their project while TH sold the land.
“What happened in Tabung Haji’s case is very embarrassing… Ya Allah, please save us!
“That was the tweet from an artist in 2015 when the news about Tabung Haji purchasing a piece of 1.6 acre land in TRX at RM188.5 million to build condominium was released,” he said in a Facebook post today.
According to Najib, the then Barisan Nasional government gave opportunity to TH to rake good profits by selling the TRX land to them below market value.
“The opportunity for Tabung Haji to rake higher profit for this project has passed, meanwhile, private company, WCT continue to rake huge profit from their RM1.1 billion project on the TRX land which is equivalent in size to the land next to it, previously owned by TH.
“We gave opportunity to Tabung Haji to rake huge profit by selling TRX land to them below market value so that the ‘hibah’ (profit or dividend rate) to the depositors would increase. However, they accused us of robbing Tabung Haji instead.
“Yes, we were slandered by many people back then, including artists although we meant well.
“Who among my FB friends took the baits of these slanders and the PH propaganda on the Tabung Haji TRX land back then?” he questioned.
Yesterday, Prime Minister Tun Dr. Mahathir Mohamad said that TH will sell their assets which no longer provide good returns. The proceeds from the sales will be used to invest in other means which provide better income. -MalaysiaGazette