Just imagine how many cows you can buy with that kind of money. But we are not talking about cows are we, but Khir Toyo the Selangor "Tai Yee Long". For our Malay and Indian friends, "TYL" means Loan Shark. Since when did this little piece of dungu start a loan shark business? Mind you, this is no typical TYL, he does not use his own money, he uses state funds, that's the best part.
So, if a unit cost RM2.13 mil, therefore the total cost of 7 units is RM14.93 mil, sold to the unknown individual at RM 17.25 mil, clean profit of RM 2.32 mil. Chia lat ! Chiak beh liow!
When you have something like this hanging over your head, Khir Toyo, don't go digging up those cow issue or this and that issue. You are just waiting for a piece of cow dung to be slapped on your face.
SHAH ALAM: The purchase of several apartment units in Saudi Arabia by Permodalan Negeri Selangor Berhad (PNSB) in 2007 may have contravened two laws.
In a statement released to the media by Selangor Mentri Besar Tan Sri Khalid Ibrahim’s political secretary Nik Nazmi Nik Ahmad yesterday, it said the purchase could have breached the Exchange Control Act and the Anti-Money Laundering Act.
He said records showed that the PNSB board of directors had approved the purchase of five units of the property amounting to RM8.35mil.
However, PNSB had transferred RM25.6mil for the purchase of 12 units of the said property without the board of directors’ approval.
The seven extra units were then sold to an individual for RM17.25mil. Nik Nazmi said that while the purchase was traded in Saudi Arabia Riyal by PNSB, it was sold in ringgit to the individual.
“To date, PNSB has no records indicating that the individual had obtained approval from the relevant authorities to invest in properties abroad,” he said.
So, if a unit cost RM2.13 mil, therefore the total cost of 7 units is RM14.93 mil, sold to the unknown individual at RM 17.25 mil, clean profit of RM 2.32 mil. Chia lat ! Chiak beh liow!
When you have something like this hanging over your head, Khir Toyo, don't go digging up those cow issue or this and that issue. You are just waiting for a piece of cow dung to be slapped on your face.
SHAH ALAM: The purchase of several apartment units in Saudi Arabia by Permodalan Negeri Selangor Berhad (PNSB) in 2007 may have contravened two laws.
In a statement released to the media by Selangor Mentri Besar Tan Sri Khalid Ibrahim’s political secretary Nik Nazmi Nik Ahmad yesterday, it said the purchase could have breached the Exchange Control Act and the Anti-Money Laundering Act.
He said records showed that the PNSB board of directors had approved the purchase of five units of the property amounting to RM8.35mil.
However, PNSB had transferred RM25.6mil for the purchase of 12 units of the said property without the board of directors’ approval.
The seven extra units were then sold to an individual for RM17.25mil. Nik Nazmi said that while the purchase was traded in Saudi Arabia Riyal by PNSB, it was sold in ringgit to the individual.
“To date, PNSB has no records indicating that the individual had obtained approval from the relevant authorities to invest in properties abroad,” he said.
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