{"id":3649,"date":"2013-10-23T10:41:51","date_gmt":"2013-10-23T02:41:51","guid":{"rendered":"http:\/\/limguaneng.com\/?p=3649"},"modified":"2013-10-23T10:41:51","modified_gmt":"2013-10-23T02:41:51","slug":"felda-should-justify-inflated-prices-for-its-rm500-million-london-hotels-in-overpaying-rm100-million-and-openly-defying-one-of-the-main-thrusts-of-the-federal-governments-economic-transforma","status":"publish","type":"post","link":"https:\/\/limguaneng.com\/index.php\/2013\/10\/23\/felda-should-justify-inflated-prices-for-its-rm500-million-london-hotels-in-overpaying-rm100-million-and-openly-defying-one-of-the-main-thrusts-of-the-federal-governments-economic-transforma\/","title":{"rendered":"Felda Should Justify Inflated Prices For Its RM500 Million London Hotels In Overpaying RM100 Million  And Openly Defying One Of The Main Thrusts Of The Federal Government\u2019s Economic Transformation Plan(ETP) Of Divestment Of Non-Core Assets.(en\/bm\/cn)"},"content":{"rendered":"<p>Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 23.10.2013.<\/p>\n<p>Felda should justify inflated prices for its RM500 million London hotels in overpaying RM100 millon and openly defying one of the main thrusts of the Federal government\u2019s Economic Transformation Plan(ETP) of divestment of non-core assets. An online portal today reported that Felda&#8217;s \u00a397.9 million (RM495 million) deal for the 198-unit Grand Plaza service apartments in Bayswater, London is overpriced when high-end real estate agents Savills and Knight Frank had only valued the property at \u00a380 million (RM408 million) in the past few years. In other words Felda overpaid by nearly RM100 million!<\/p>\n<p>This has raised fears that any economic downturn would cause state-linked Malaysian firms buying up London properties at inflated prices to lose tens of millions of pounds in public funds. Felda has neither prior expertise nor intimate knowledge whatsoever in running hotels. To-date both Felda and the Federal government has refused to explain how Felda hopes to turn in a profit over and above the cost of its RM500 million London hotel investments.<\/p>\n<p><!--more-->When I raised this in Parliament on Monday, the government refused to reply how Felda can earn a high enough rate of return to recoup their investment, beyond saying that the market value of the London hotel has now increased to 115 million pounds from the 98 million pounds initial investment. Again there was no proof that the market value of the London hotel has increased to 115 million pounds.<\/p>\n<p>The lack of intimate knowledge and management expertise in running a  business is the fundamental reason for ETP\u2019s divestment policy. After taking over Penang in 2008, we were shocked that the state government and its subsidiaries were heavily involved in non-core activities which it has no expertise such as operating oil palms, rubber plantations, rearing fish farms, running hotels, educational colleges and even a golf course. All these ill-considered ventures were making losses.<\/p>\n<p>Through a policy of divestment and outsourcing through open competitive tenders, these heavy annual operating losses were turned instead into yearly profits. However these operating losses could be quickly turned into profits because the properties were already owned by the state government. In other words there was no capital expenditure(capex) involved.<\/p>\n<p>With the RM500 million capex by Felda, it is unlikely that even if Felda make profits, the profits will justify the cost of investment. For this reason, BN leaders should not treat public monies as their private holdings but justify in the interests of accountability and transparency, the financial benefits of investing in non-core businesses to the people.<\/p>\n<p>Lim Guan Eng<\/p>\n<p>&#8212;&#8211;BM Version &#8212;-<\/p>\n<p>Kenyataan media Setiausaha Agung DAP merangkap Ahli Parlimen Bagan, Lim Guan Eng di Kuala Lumpur pada 23 Oktober 2013.<br \/>\n<strong><br \/>\nFelda mesti menjustifikasi harga terinflasi bagi hotel Londonnya yang berharga RM500 juta sehingga membayar lebih sebanyak RM100 juta dan mengingkari salah satu dorongan utama Pelan Transformasi Ekonomi Kerajaan Persekutuan supaya menjual aset-aset bukan teras. <\/strong><\/p>\n<p>Felda mesti menjustifikasi harga terinflasi bagi hotel Londonnya yang berharga RM500 juta sehingga membayar lebih sebanyak RM100 juta dan mengingkari salah satu dorongan utama Pelan Transformasi Ekonomi Kerajaan Persekutuan supaya menjual aset-aset bukan teras. Sebuah portal internet hari ini melaporkan bahawa jualbeli Felda bernilai \u00a397.9 juta (RM495 juta) bagi Grand Plaza service apartment 198 unit di Bayswater, London adalah terlalu mahal sedangkan agen hartanah mewah Savills and Knight Frank menilai hartanah tersebut sekitar \u00a380 (RM408 juta) sahaja beberapa tahun lalu. Dengan kata lain, Felda terlebih bayar hampir RM100 juta!<\/p>\n<p>Ini menimbulkan kerunsingan jika terdapat sebarang keadaan ekonomi merudum akan menyebabkan firma Malaysia terkait kerajaan yang membeli hartanah di London pada harga terinflasi akan kerugian berpuluh-puluh juta pound dana awam. Felda tiada kepakaran mahupun pengetahuan mendalam tentang bidang perhotelan. Sehingga kini, kedua-dua Felda dan kerajaan persekutuan enggan menjelaskan bagaimana Felda ingin memperoleh keuntungan melampaui kos pelaburan RM500 juta hotel Londonnya.<\/p>\n<p>Apa saya bangkitkan perkara ini di Parlimen Isnin lalu, kerajaan enggan menjawab bagaimana Felda akan dapat memperoleh kadar pulangan tinggi untuk menampung kos pelaburan selain mengatakan bahawa nilai pasaran hotel London tersebut telah meningkat sehingga 115 juta pound berbanding pelaburan awal bernilai 98 juta pound. Sekali lagi tidak dikemukan bukti bahawa nilai pasaran hotel London tersebut telah meningkat ke 115 juta pound.<\/p>\n<p>Kekurangan pengetahuan mendalam dan kepakaran mengurus untuk menjalankan perniagaan adalah asas kepada polisi penjualan ETP. Selepas mengambil alih Pulau Pinang pada tahun 2008, kami amat terkejut melihat kerajaan negeri dan anak-anak syarikatnya begitu terlibat dengan aktiviti bukan teras di mana ia langsung tidak ada kepakaran seperti menguruskan ladang kelapa sawit, ladang getah, menternak ikan, perhotelan, institusi pengajian malah kelab golf. Kesemua perusahaan yang tidak difikirkan dengan baik ini menjana kerugian belaka.<\/p>\n<p>Melalui sebuah polisi penjualan dan penyumberluaran menggunakan tender terbuka, kerugian operasi tahunan yang begitu hebat ini akhirnya berubah menjadi keuntungan setiap tahun. Begitu pun kerugian operasi ini dapat ditukar menjadi keuntungan kerana hartanah terbabit sudah pun dimiliki oleh kerajaan negeri. Dengan kata lain, tiada perbelanjaan modal (capital expenditure) terlibat.<\/p>\n<p>Dengan perbelanjaan modal sebanyak RM500 juta oleh Felda, adalah tidak mungkin kalau pun Felda dapat menjana keuntungan, keuntungan tersebut akan menjustifikasi kos pelaburan. Untuk sebab ini, pemimpin BN tidak sepatutnya menggunakan wang rakyat seperti milik persendirian tetapi mesti memberi justifikasi tentang faedah kewangan pelaburan bisnes bukan teras kepada rakyat, demi prinsip akauntabiliti dan ketelusan.<\/p>\n<p>LIM GUAN ENG<\/p>\n<p>&#8212;-Mandarin Version &#8212;&#8211;<\/p>\n<p>\u6c11\u4e3b\u884c\u52a8\u515a\u79d8\u4e66\u957f\u517c\u5cc7\u773c\u533a\u56fd\u4f1a\u8bae\u5458\u6797\u51a0\u82f1\u4e8e2013\u5e7410\u670823\u65e5\u5728\u5409\u9686\u5761\u53d1\u8868\u58f0\u660e\uff1a<\/p>\n<p><strong>\u8054\u90a6\u571f\u5730\u53d1\u5c55\u5c40\uff08FELDA\uff09\u5e94\u8be5\u89e3\u91ca\u4ed6\u4eec\u4e3a\u4f55\u5728\u4f4d\u4e8e\u4f26\u6566\u4ef7\u503c5\u4ebf\u4ee4\u5409\u7684\u9152\u5e97\u6536\u8d2d\u4e2d\uff0c\u989d\u5916\u7f34\u4ed81\u4ebf\u4ee4\u5409\uff0c\u4ed6\u4eec\u4e5f\u516c\u5f00\u8fdd\u6297\u8054\u90a6\u653f\u5e9c\u7684\u7ecf\u6d4e\u8f6c\u578b\u8ba1\u5212\uff0c\u6ca1\u6709\u64a4\u9500\u8fd9\u9879\u975e\u6838\u5fc3\u8d44\u4ea7\u6295\u8d44\u3002<\/strong><\/p>\n<p>\u8054\u90a6\u571f\u5730\u53d1\u5c55\u5c40\uff08FELDA\uff09\u5e94\u8be5\u89e3\u91ca\u4ed6\u4eec\u9700\u4e3a\u4f4d\u4e8e\u4f26\u6566\u4ef7\u503c5\u4ebf\u4ee4\u5409\u7684\u9152\u5e97\u989d\u5916\u7f34\u4ed81\u4ebf\u4ee4\u5409\uff0c\u4ed6\u4eec\u4e5f\u516c\u5f00\u8fdd\u6297\u8054\u90a6\u653f\u5e9c\u7684\u7ecf\u6d4e\u8f6c\u578b\u8ba1\u5212\uff0c\u6ca1\u6709\u64a4\u9500\u8fd9\u9879\u975e\u6838\u5fc3\u8d44\u4ea7\u6295\u8d44\u3002\u4e00\u4e2a\u65b0\u95fb\u7f51\u7ad9\u4eca\u5929\u62a5\u9053\u8054\u90a6\u571f\u5730\u53d1\u5c55\u5c40\u4ee59790\u4e07\u82f1\u9551\uff08\u7ea64\u4ebf9500\u4e07\u4ee4\u5409\uff09\u6536\u8d2d\u82f1\u56fd\u4f26\u6566198\u5e74\u5355\u4f4d\u7684Grand 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Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 23.10.2013. Felda should justify inflated prices for its RM500 million London hotels in overpaying RM100 millon and openly defying one of the main thrusts of the Federal government\u2019s Economic Transformation Plan(ETP) of divestment of non-core assets. An online portal &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/limguaneng.com\/index.php\/2013\/10\/23\/felda-should-justify-inflated-prices-for-its-rm500-million-london-hotels-in-overpaying-rm100-million-and-openly-defying-one-of-the-main-thrusts-of-the-federal-governments-economic-transforma\/\"> <span class=\"screen-reader-text\">Felda Should Justify Inflated Prices For Its RM500 Million London Hotels In Overpaying RM100 Million  And Openly Defying One Of The Main Thrusts Of The Federal Government\u2019s Economic Transformation Plan(ETP) Of Divestment Of Non-Core Assets.(en\/bm\/cn)<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[8],"tags":[],"_links":{"self":[{"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/posts\/3649"}],"collection":[{"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/comments?post=3649"}],"version-history":[{"count":1,"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/posts\/3649\/revisions"}],"predecessor-version":[{"id":3650,"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/posts\/3649\/revisions\/3650"}],"wp:attachment":[{"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/media?parent=3649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/categories?post=3649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/limguaneng.com\/index.php\/wp-json\/wp\/v2\/tags?post=3649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}