Land Deals Done On Case By Case Basis Says Chow

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Penang chief minister Chow Kon Yeow says information on land available for development is posted on the Penang Development Corporation website. (Facebook pic)PETALING JAYA: The Penang Development Corporation welcomes any proposal from investors who want to develop catalytic and high-impact projects in the state, chief minister Chow Kon Yeow said today.
Chow, who is PDC chairman, said the corporation has also posted information on its website on the available land for development and those interested can submit their proposals.
“PDC treats each transaction on a case-by-case basis because it is not possible for every company to have the same components. In fact, PDC welcomes proposals that have a catalytic effect,” he told reporters here, Bernama reported.
The chief minister was responding to a press report in which property developer Aspen Group explained the circumstances behind its purchase of land from PDC in 2014 for the development of Aspen Vision City in Batu Kawan.
The land was purchased through direct negotiation with PDC.
The report in the Edge business weekly came in the wake of controversy over another land deal between PDC and Umech Construction Sdn Bhd which the Penang Chinese Chamber of Commerce had questioned, saying the land was sold below market price.
The chamber said the land was sold to Umech Construction but the development agreement was between PDC and another company, Umech Land Sdn Bhd, which property developer Sunway Group later disclosed was a 70% subsidiary.
Chow said the land in question, where a new industrial park is being developed, was also void of infrastructure.
“So every case is different, and the fact of the matter is, it was done via direct negotiation.
“We encourage proposals for projects which are classified as catalytic (in nature) that offer a significant impact and which are able to attract other investments. So what the Aspen Group is saying is not an issue. They have the right to explain (their side of the story) but in fact it was also negotiated under different terms and conditions,” Chow said. - FMT

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