These are some pictures of the new King's Palace (Istana Negara) to share with all Malaysians.
It is worth to be shared because it was built using public money collected in Malaysia under a variety of taxes including the Service Tax, Estate Tax, Assessment, Road Tax and your Income Tax.
The cost of construction of the new Istana Negara, Jalan Duta, Kuala Lumpur, said to have more than doubled in four years and this cost increase factor is due to the rising prices of raw materials, especially steel.
Deputy Works Minister Datuk Yong Khoon Seng said the palace is estimated to cost RM400 million in 2006, but now (2010) costs increased to RM811 million.
Construction contracts of the new King's Palace was given to three companies through direct negotiations, not through open tender.
This is because the presidential palace is "unique" and had required additional security considerations.
what is wrong with the old palace? Buckingham palace stands for, like, forever!! There goes our money again!!
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