PKR to lodge police report against Najib: Land bond proves Boustead 'grossly overpaid' Ropiaah, Deepak

UPDATED PKR strategy director Rafizi Ramli revealed on Monday that a Defense ministry project, Puspahanas, was worth at most RM72.5 mil according to a land bond in the complex privatization agreement that embattled Prime Minister Najib Razak had endorsed to Awan Megah, a firm controlled by Selangor Umno Women's chief Raja Ropiaah.

The land bond value is way below the RM160mil that Boustead Holdings Bhd, a public-listed company 61%-owned by the Armed Forces Pension Fund (LTAT), paid to Ropiaah and Deepak Jaikishan, a former close friend of Najib's wife Rosmah Mansor who has been stunning the country with a slew of corruption expose's against the first couple.

"This is daylinght robbery. It is outright bribery (using Armed Forces pension money) to silence Deepak and to cover up the scandal," Rafizi told a press conference on Monday.

PKR and several activist groups plan to lodge a police report against Najib on Tuesday morning. Similar corruption complaints will be made against Najib in other states, said Rafizi. NAJIB'S FINGERPRINTS all over Raja Ropiaah's alleged RM400mil Mindef land scam

Police report for 'bribery' and 'daylight robbery'

Rafizi, a UK-trained auditor was going through the details of the scandalous deal entered into between Boustead, Deepak and Ropiaah with the media. His PKR party has vowed to defend the Armed Forces pension money from being "looted" by unscrupulous top government leaders.

"I don't think we can save the RM13mil which is the 10% that Boustead has paid to Raja Ropiaah but we can block the rest of the deal from going through," said Rafizi.

He highlighted a letter dated July 17, 2009 from the federal Land & Mining office to its counterpart in Selangor appealing the decision of the state Land & Mining office to reject the federal government's application to transfer 223 acres of land in Bukit Raja to Awan Megah.

"This confirms that the land bought by Boustead is still the property of the federal government and requires the permission of the (PKR-led) Selangor state government before any transfer in title can be effected or building plans approved," said Rafizi.

"This also proves the 223 acres of land does not belong to Awan Megah and the Selangor state government has already decided the land cannot be used to build anything except for military use as it was originally intended. So it doesn't make sense when Boustead issued its latest statement that it bought the land to expand its land bank."

Paying Ropiaah RM130mil from LTAT funds for nothing

Boustead is a public-listed company, with advisers from the Army, Navy and Air Force on its board. It is the investment arm of the Armed Forces Pension Fund and is now accused of bowing to political pressure from top government leaders and entering into a disadvantageous deal, paying RM30 mil to Deepak and RM130 mil to Ropiaah.

"We have said from the very first day, from the time we caught wind of the deal, that this is as good as paying RM130 mil to Raja Ropiaah for land that is non-existent because the land does not belong to her and is not hers to sell."

Rafizi explained that the RM72.5 mil land bond was a financial instrument that guaranteed to pay for the entire cost of developing Puspahanas and in the event that the Awan Megah failed to complete the project, the federal government could exercise the land bond to complete the project.

"I think Raja Ropiaah must have gone to Datuk Najib and said, OK you can take back the land but you must compensate me for the costs I have paid. But the land bond is only RM72.5mil and the current status of development of Puspahanas at a very premliminary stage. So why is Boustead paying RM130mil to Raja Ropiaah? It doesn't make sense at all," asked Rafizi.

The entire deal blew up when Deepak accused Ropiaah of stealing his 'land' and on-selling to another party, tooth-brush-maker GuppyUnip. After landing the privatization project, Ropiaah had in 2007 agreed to sell the land to Deepak. But the deal stalled and the titles could not be transferred after the Selangor state government, which fell into Opposition hands in 2008, demanded a full audit. 

Malaysia Chronicle