Thursday July 12, 2012

State govt will not lose out in auction, says Trinity

PETALING JAYA: Trinity Corporation Bhd (formerly known as Talam Corporation Bhd) gave the assurance that the Selangor government will not lose out following the auctioning of a piece of land in Danau Putra by a bank.

Stressing that it was challenging the validity of the auction and valuation in court, Trinity said it would identify a new piece of land to replace the one auctioned off if the court decision was not favourable to the state.

“There will be no loss to the state arising from the legal dispute,” Trinity said in a statement.

It was responding to questions raised by MCA Young Professionals Bureau chief Datuk Chua Tee Yong on why the piece of land acquired by the Pakatan Rakyat government at RM43.3mil was auctioned off at only RM15mil. This particular land is part of four plots of land in Danau Putra.

Chua had also asked why the four plots of land, 80% of which is submerged in water, were sold at RM87.7mil.

Trinity said it had actually disposed of the four plots of land at a cheaper price to the state, adding that an independent and professional valuer had valued the four plots of land at RM93.5mil.

“Hence (it is) not a deal as sweet for Trinity as portrayed or perceived,” said the statement.

Trinity said it understood that two other plots of land in Danau Putra were in the process of being sold above the purchase price of RM15 per sq ft.

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