In the exclusive report, the Australian paper alleges that “a group of super-rich Malaysian officials” overpaid by A$4.75 million (RM13.8 million) for an apartment block in the city in 2013.
The trio had allegedly “overbid” for the building, called Dudley International House, from A$17.8 million to A$22.5 million (RM65.3 million), with the difference pocketed as bribes back home.
Australian developers of the property had issued sham invoices for a fake services, such as “consultancy and advisory” from Malaysian firms, the paper said.
Quoting an Australian creditor, who faces bankruptcy after the deal collapsed, tradesman John Bond told The Age: "This deal has ripped off Australians and involve serious corruption but no one has been held to account."
The paper alleges that the same group of high-ranking Malaysians are also involved in about A$80 million worth of Melbourne property, buying up offices and apartment blocks.
About 20,000 Malaysians study in Australia each year, according to government figures, and Melbourne is a popular destination.
Dudley International House (pic) is a student hostel, bought by Mara, a government agency, which provides scholarship to Malaysians studying overseas and loans to Bumiputeras.
The five-storey Dudley International House in the suburb of East Caulfield accommodates up to 115 Mara students attending Monash University.
Even there are a lot of options of residence to lease. People looking for a right residence interacting broker can do some online investigation, which places them at option getting some lower price.
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