Johari to look into reported acquisition of Exchange 106

Johari to look into reported acquisition of Exchange 106

He says he will obtain details on the alleged purchase by MoF Inc of a majority stake in Mulia Property Development Sdn Bhd.

Johari-Abdul-Ghani_Exchange-106-tower_mof_600
PETALING JAYA:
Second Finance Minister Johari Abdul Ghani says he will look into claims that the Minister of Finance Inc (MoF Inc) bought a majority stake in the developer of the Exchange 106 tower in Kuala Lumpur.

He was referring to reports that MoF Inc had bought a 51% stake in Mulia Property Development Sdn Bhd from Mulia International Ltd, a part of Indonesian conglomerate Mulia Group.

“I don’t (have) the details for you. I will get the details later,” he was quoted as saying by The Edge yesterday.

On Saturday, The Edge said the controlling stake was reportedly acquired several months ago.

This was done through a company called MKD Signature Sdn Bhd, whose directors are MoF deputy secretary (commercial sector) at the government investment companies (GIC) division Rashidah Mohd Sies, GIC division secretary Asri Hamidin@Hamidon and deputy secretary general (investment) Mohmad Isa Hussain, the report said.

The Exchange 106, located at the Tun Razak Exchange (TRX) in Kuala Lumpur, is expected to be completed by the second quarter of 2018.

The 106-storey superstructure is set to displace the Petronas Twin Towers as the tallest building in Malaysia by some 40 metres.

On Monday, DAP’s Petaling Jaya Utara MP Tony Pua questioned the reported transfer of the majority stake to the government.

He called on MoF to confirm and disclose the details of the deal, along with those of an earlier purchase of a plot of TRX land by Aroma Teraju in 2015.

Pua has questions on MoF’s acquisition of Exchange 106

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