Did Senator Vell Paari acquire Perak land below market value?

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Senator Vell Paari Accused of Acquiring Perak Land Below Market Value

M. Lokanathan, a former Sungai Siput MIC division chief, has accused Senator Datuk Seri S. Vell Paari of acquiring substantial land holdings in Perak significantly below their market value. Lokanathan's allegations center on several land parcels in Sungai Siput, including the 114-acre Ladang Dovenby, which he claims Vell Paari now benefits from through Syarikat Ratus Sanjung Sdn Bhd. Records indicate Vell Paari, his mother, and sister were appointed directors of Syarikat Ratus Sanjung Sdn Bhd on December 10, 2019, with Lokanathan asserting Vell Paari took control of the company last year.
Ladang Dovenby Acquisition

Lokanathan specifically detailed the acquisition of the 114-acre Ladang Dovenby, which comprises oil palm plantations. He alleged that Syarikat Ratus Sanjung Sdn Bhd transferred this land for RM11,280 per acre, a price substantially lower than the reported market value of RM68,000 per acre. Lokanathan pointed out that this land was originally promised by former MP Tun S. Samy Vellu to be developed into a public housing project. The company Syarikat Ratus Sanjung Sdn Bhd was reportedly previously owned by a proxy of Samy Vellu, who acquired the land in 2005 with the commitment to establish a People’s Housing Project.
Land for Convention Centre and Housing

Further accusations involve two plots of land in Sungai Siput, totaling three acres, which Lokanathan stated were designated for Taman Tun Sambanthan residents and Koperasi Pekerja Jaya Berhad. He claimed these lands were sold by Samy Vellu, then chairman of the cooperative, for RM100,000 to Astral Heights Sdn Bhd. This company, Lokanathan asserted, is now under the ownership of Vell Paari and the Samy Vellu family. The Sungai Siput Convention Centre is allegedly built on this land, utilizing government funds, and the company reportedly charges RM3,500 daily for building rental.
Alleged Sale of Ipoh Property

Lokanathan also raised allegations concerning a house in Ipoh, which he stated was owned by Samy Vellu and valued at RM6 million. According to Lokanathan's claims, Vell Paari sold this property for RM750,000 to an individual described as a "crony." This property is reportedly currently involved in a legal dispute between Vell Paari and a woman claiming to be Samy Vellu’s common-law wife. Lokanathan has filed three reports with the Malaysian Anti-Corruption Commission (MACC) regarding these allegations.

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Did Senator Vell Paari acquire Perak land below market value?

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