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Friday, June 14, 2013

MRT debunks Lok Ann’s claims

It's chief executive officer, Azhar Abdul Hamid, says terms in the mutual agreement were fair and charges that the hotel owner was always opposed to the deal
PETALING JAYA: MRT Corp today criticised Lok Ann Hotel owners for rejecting its financial offer to take up a certain portion of their land for the light railway project.
MRT Corp CEO, Azhar Abdul Hamid, said that he could not understand why Chip Ann Realty Sdn Bhd (CAR), the parent company of Lok Ann, rejected the compensation offered, claiming it was mooted on the same basis offered to other landowners.
“Owners of seven properties there have signed the mutual agreement (MA), including Yan Keng Benevolent Dramatic Association, who had originally opposed it,” he said in statement today.
“This showed that the compensation and other terms in the MA are fair and equitable.I don’t see why CAR thinks they are different and should be accorded preferential treatment.”
Two days ago, Lok Ann spokesperson, Judy Tan, decried the MA by MRT Corp, calling it lopsided.
Among their contention was that the MA would require the hotel owners to grant power of attorney to MRT Corp over their whole land, which is tantamount to giving away their land to the latter.
Tan also decried MRT Corp’s compensation plan, claiming the monetary package does not reflect the real value of their losses.
Azhar, however, dismissed any notion that the compensation was not fair.
“Based on the valuation formulated by an independent valuer, the owners negotiating the MA were offered between RM100,000 and RM800,000 depending on the value of the properties.
“CAR was offered RM680,000 but they now want RM2 million or three times what they were offered,” he said.
Azhar added that on top of the money, CAR would also be allowed to continue to own the property and carry on its business there.
“CAR will also get the structure of the building strengthened at our cost, and ultimately, benefit from the future MRT station nearby.
“So I cannot justify paying them the millions that they are demanding. Maybe the compensation from the acquisition of their land will match the sum that they are demanding for,” he said.
Azhar said that his company has no interest in acquiring the properties in Jalan Sultan as it only needed a portion of the land beneath the buildings to build an underground tunner to facilitate the MRT project.
“CAR had always been opposed to any discussion on the matter and it was evident when the latter did not sign points of agreement, before the MA, to indicate their willingness to negotiate, as opposed to other owners,” said Azhar.

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