PKR Youth wants independent audit after Ku Nan-linked land deal flagged

 

PKR Youth has called for an independent audit into Yayasan Wilayah Persekutuan after a dubious land deal was linked to former federal territories minister Tengku Adnan Tengku Mansor.

The sale of Kuala Lumpur City Hall (DBKL) land to YWP had been flagged by the Audit Department for alleged conflict of interest.

Adnan was the chairperson of YWP when he was federal territories minister and also has oversight of DBKL.

At the same time, the executive director of YWP was also the executive director of a company that the foundation later sold the land to.

PKR Youth chief Akmal Nasir said the matter should be investigated further.

“I urge that YWP be audited by an independent auditor as well as brought to the Public Accounts Committee (PAC),” he said in a statement today.

According to the audit report, the land involved is located at Lot 37890 along Jalan Radin Anum 1 in Sri Petaling, Kuala Lumpur.

Flipped for RM5m

The 1.052ha of mixed-development land was meant to be sold to Pinnacle Homes SP Sdn Bhd for RM30.48 million.

However, YWP had in 2013 proposed its own development on the land to the Kuala Lumpur mayor. The exact purpose of the development was not stated.

The Kuala Lumpur mayor, through the meeting minutes on Sept 23, 2013, then informed Adnan of the matter.

The audit report said the minister agreed with YWP’s proposal and ordered a release letter be obtained from Pinnacle Homes.

The land was finally sold to YWP for RM30.48 million on July 13, 2015.

However, on Sept 3, 2015, YWP flipped the land to Pinnacle Homes, which was the original firm that was supposed to buy the land, for a RM5 million profit.

“The minister was also the chairperson of company 152446-W (YWP).

“The executive director of company 152446-W and company 828584-T (Pinnacle Homes) was also the same person.

“Therefore, it was a conflict of interest that allowed the release letter to be issued to the mayor,” the audit report said.

The audit report said the same modus operandi was used by YWP for Lot 1248 and Lot 1254 along Jalan Imbi.

Together with the Jalan Radin Anum 1 land, it made RM13.69 million from the flip.

Akmal said the profits from the land flips should be returned to the government as revenue. - Mkini