According to FMT, Syed Mokhtar al-Bukhary won an RM58 million purchase bid for the 3.08 acre land.
Wait a minute, only a man biting a dog is a news, what the heck I am talking about this business deal?
The Ministry of Finance (MoF) awarded the land to Konsortium Jentera Sdn Bhd/Nusantara Sdn Bhd, owned by UMNO crony despite there being a second company which submitted a higher bid of RM88 million.
Why a lower bidder with less than RM30 million than RM88 million higher bid was awarded?
Public fund losses by MOF : RM 30 million
Number of BN White Elephant Project monitored : 3
Total accumulated cost or losses: RM 7228 million.