Did Najib swap KTM land to settle RM363 billion debt?

SHAH ALAM: Petaling Jaya Utara MP Tony Pua is wondering if the Prime Minister Najib Tun Razak’s swap of six land parcels in Tanjung Pagar for two commercial lots in Singapore is related to the RM363 billion national deficit.

Expressing his concern, he said Najib may have been forced into making this decision in view of the swelling deficit.

Pua said he would not be surprised if the agreement was aimed at settling the national debts.

“For the moment what we know is that Najib will receive funds from the development of land in Singapore. The land in Singapore is very valuable.

“I believe one of the reasons Najib went ahead with the agreement despite changes in land policies is because the Malaysian government anticipates lucrative returns from the development on KTM land,” he said.

Pua was referring to Mondau report which stated that Keretapi Tanah Melayu Berhad (KTMB)’s railway land in Tanjung Pagar would be swapped for land parcels in two of Singapore's most expensive districts, including the site of the multibillion-dollar Marina Bay Sands casino complex which opened in April.

Najib in a meeting with the Singapore prime minister Lee Hsien Loong in Singapore had agreed to shift the KTMB complex to Woodlands, an industrial zone located just across a narrow strait from Johor by July 1, 2011.

Malaysia will also place its customs, immigration and quarantine complex at the industrial zone.

‘Lets see the terms’

Meanwhile Opposition Leader Anwar Ibrahim in a statement urged Najib to explain in detail the terms and conditions of the deal.

“We urge Najib to immediately explain in detail the meaning behind the Points of Agreement (POA) between the Singapore government and Malaysia.

“We also want to know the new terms and conditions to maximise the land potential in Singapore.

“We also want to know if Najib used the 1990 POA as outlined by (then) foreign minister Daim Zainuddin because it did not get cabinet approval, “ he said.

Describing the settlement as sudden, Anwar said issues involving national sovereignty in a a neighbouring country were sensitive and must be handled with care.

He said said Najib’s statement on Monday appeared to have shelved several key issues, such as the status of the Tanjung Pagar station, land parcels in Kranji Woodland, Tanjung Pagar and Lots 76-2 Mk16, Lot 249 Mk 4 and Lot 32-10 MK 16.

Anwar added that the government should also explain the actual status of the ongoing water issue with Singapore.


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