What formula determines lease renewal premiums for selling Petaling Jaya properties?

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The lease renewal premium for selling Petaling Jaya properties is calculated using a land-value and area formula: 1/4 x 1/100 x value of land x 99 years x area of land.

The premium is set by the formula $$¼ x 1/100 x Value of land x 99 years x Area of Land$$ for lease renewal tied to selling a Petaling Jaya leasehold property. Property owners also receive a 30 per cent discount on this premium, but the premium must be paid within six months after Form 5A for lease renewal is issued.
The exact calculation for the selling-related lease renewal premium
The premium uses a multiplier structure that starts with ¼ and then 1/100, before applying the land’s value and the land’s area. The formula multiplies the “Value of land” by “99 years” and by “Area of Land”, producing the lease renewal premium amount.
The 30 per cent discount that applies to the computed premium
After the premium is determined using $$¼ x 1/100 x Value of land x 99 years x Area of Land$$, the owner is entitled to a 30 per cent discount. This means the payable amount is reduced relative to the full premium that results from the formula.
The payment deadline linked to Form 5A
The premium payment is not only tied to the formula and the discount; it also has a timing requirement. The premium must be settled within six months after Form 5A for lease renewal is issued.
Context: the formula is tied to selling, not the nominal extension option
In Petaling Jaya, there are two lease-related pathways described. One option involves a nominal RM5,000 fee to extend the lease up to 99 years, while the selling pathway requires renewing the lease for 99 years and paying the premium calculated using the stated formula.

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What formula determines lease renewal premiums for selling Petaling Jaya properties?

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