What led to the RM500,000 land sale for a RM29.3 million plot?

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Terengganu PKR Youth Raises Concerns Over Substantially Undervalued Land Sale

The Terengganu PKR Youth wing has called for a halt to public land sales by the state government, citing a controversial transaction where an 11,299 square metre plot, valued at RM29.3 million, was sold for RM500,000. This sale, made to the Khairunnisa’ Association, which represents wives of former elected representatives, has prompted questions regarding the significant reduction in premium payments and the final sale price.
Questions Regarding Premium Reductions and Sale Price

The Terengganu PKR Youth wing has specifically questioned the considerations that led to a reduction in premium payments, noting that the final price was 11 times cheaper than the original premium and a staggering 58 times cheaper than the market price. These queries highlight a significant discrepancy between the land's assessed market value and the amount paid, suggesting a potential undervaluation that warrants further explanation.
Allegations of Cronyism and Affiliation with PAS

Concerns have been raised about whether the sale of public land to PAS-affiliated non-governmental organisations (NGOs) is a common practice approved by leadership. The PKR Youth wing has proposed the implementation of a tender system for land sales, aiming to prevent what they describe as the "perpetuation of cronyism" under the current administration. The sale to the Khairunnisa’ Association, an entity linked to former elected representatives, has intensified these concerns about preferential treatment.
Menteri Besar's Response and Political Motivations

Menteri Besar Datuk Seri Ahmad Samsuri Mokhtar stated on June 3 that the land sale was a non-issue and that all necessary procedures were followed. He attributed the controversy to political motivations ahead of the state elections. In response to this statement, the Terengganu PKR Youth wing labelled the remarks as "ironic," accusing PAS Youth members of spreading false accusations while downplaying the significance of their own actions concerning public land sales to affiliated NGOs.

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What led to the RM500,000 land sale for a RM29.3 million plot?

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