Khazanah Nasional Berhad yesterday denied allegations of questionable deals in the development of the ambitious multi-billion ringgit Medini integrated development in Johor.
The questions were raised in two letters to the editor published in Utusan Malaysia and revolved around the decision of a Khazanah- and EPF-linked company to lease land to Middle Eastern investors in Medini in 2007 and the subsequent buy-back of the land by the state asset manager from the same investors — purportedly at a higher price just a few years later, enabling the investors to flip the land for a profit despite not having paid for it in full...............................................Full Article: Source
|