It confirmed receiving applications from several companies to buy the lots at Jalan Ampang, but said the matter has yet to be decided by its board of directors.
“MRB stresses that there have been no lease agreements or sale and purchase transactions signed with any parties.
“All sale or lease of land owned by MRB must be approved by the board before being brought forward to plantation industries and commodities minister Mohd Khairuddin Aman Razali for approval.
“This means the matter has yet to be raised for the minister’s consideration and approval,” it said in a statement.
The board said although it has received applications from several companies to buy Lot 20012, consideration will have to be made in accordance with assessments by the finance ministry’s Valuation and Property Services Department and views from the National Heritage Department.
For Lot 20013, a lease offer was made through an “open and transparent tender” by LGM Properties Corporation (LGMPC), a corporation owned by MRB, last October, it said.
It said several companies applied through the tender and, based on strict criteria, processes and procedures, Al-Noor Foundation was selected after making the highest bid.
“Nevertheless, the decision to lease Lot 20013 and sell Lot 20012 has not yet been decided by MRB’s board of directors,” it said.
MRB said that based on existing rules, all property valuations, whether for lease or sale, would be referred to the Valuation and Property Services Department first before lease rates and current market values were determined to give it the best returns.
An NGO yesterday revealed several official letters dated Dec 18, 2020 and Jan 6 and March 11 this year allegedly related to land owned by MRB.
Khairuddin was alleged to have approved the lease for Lot 20013 to Al-Noor Foundation at a price of RM0.70 per sq ft, compared with the market price of RM2.50, for a period of 15+10 years with a 10% lease rate increase every five years.
The NGO also claimed that Lot 20012 , with an area of 8.89 acres, was proposed to be sold to Eurowhite Sdn Bhd at a price of RM1,032.92 per sq ft, which is said to be below the market price of about RM1,400 per sq ft.