“Checks show that no land here is registered under 1MDB,” he said in a brief reply to Lee Khai Loon (PH-Machang Bubok) in the state assembly.

Lee had asked about the status of three lots of land measuring a total of 95ha purportedly belonging to 1MDB, and if the federal government had found a win-win solution over the matter.

Previously, Chow said his government had placed a Registrar’s Caveat or a block on all transactions on the said land on July 18, 2018.

Two of the lots are in Paya Terubong, measuring 18ha and 15ha respectively, while the Air Itam land measures 61ha, FMT had previously reported.

A Registrar’s Caveat is a provision under Sections 319 and 320 of the National Land Code which is aimed at preventing fraud or improper dealing and to protect the interests of the federation, among others.

In 2018, 1MDB had wanted to change the ownership of the said land, as the company had been renamed from 1MDB RE (Ayer Itam) Sdn Bhd to Ayer Itam Properties Sdn Bhd.

But it never took place because of the caveat placed on the land.

In 2018, then finance minister Lim Guan Eng said the Air Itam land was “secretly” sold to Silk Road Southeast Asia Real Estate Ltd, a company based in the Cayman Islands.

He said the land was sold for RM2.7 billion on Aug 24, 2017, netting a profit of RM1.32 billion based on the original RM1.38 billion purchase price.

The sale was carried out through the disposal of the land’s owner, 1MDB unit My City Ventures Sdn Bhd, to Silk Road via a share sale agreement, Lim said.

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