How much was the initial offer for the consulate property under BN?

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Initial Offer for Hong Kong Consulate Property Under BN Was RM1.1 Billion

The previous Barisan Nasional (BN) government initiated the sale of the Malaysian consulate's property in Hong Kong, with an offer price of RM1.1 billion. This decision was made via direct negotiation, and the rationale for the sale was linked to a substantial repair cost estimated at RM300 million.
BN's Direct Negotiation for Sale

The decision to sell the Hong Kong consulate property was initiated when Barisan Nasional was in power. Former Prime Minister Datuk Seri Najib Razak was involved in this process, attempting to sell the building through direct negotiation.
Repair Costs Influenced Sale Decision

A significant factor contributing to the previous government's decision to sell was the estimated RM300 million required for property repairs. This substantial expenditure likely influenced the move to divest the asset.
Pakatan Harapan Secured Higher Offer

Following the change in government, the Pakatan Harapan (PH) administration reviewed the sale decision. They opted to open the property to a tender process, which resulted in a significantly higher offer of RM1.6 billion, an increase of RM500 million compared to the BN's direct negotiation price.

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How much was the initial offer for the consulate property under BN?

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