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Penang Govt To Impose Conditions To Prospective 1MDBA Land Buyer

in Latest/Politics

GEORGE TOWN – The DAP-led Penang government will imposeconditions for development to prospective buyers of 1Malaysia Development Berhad’s (1MDB) land parcel in Air Hitam here.

Chief Minister Lim Guan Eng said whoever bought the land parcel should beinformed that the approval to develop the land must be obtained from the state government.

The state government never promised to give the approval for development onthe land involved to ensure that the rights of those living on the land would be protected, he told reporters here today.

Yesterday, 1MDB president and group executive director Arul Kanda in astatement announced that that 1MDB had received significant expressions of interest in its land parcels in Air Hitam, Penang, and Pulau Indah, Selangor.

He said this followed efforts by the strategic development fund to monetise its various land parcels through joint ventures or outright sales under a strategic review announced on Feb 18, which was confirmed in its rationalisation
plan presented to Cabinet on May 29.- Bernama


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