KUALA LUMPUR: The Malaysian Rubber Board (LGM) has confirmed there has been no sale or leaseback transaction on two of its land lots namely Lot 20012 and Lot 20013 in Jalan Ampang here.
LGM in a statement today said all matters related to the sale and lease of its land must have the prior approval of its board of directors before being forwarded to Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.
LGM had received applications from several companies to purchase Lot 20012 and consideration will be given based on assessment made by the finance ministry's Valuation and Property Services Department (JPPH) and views from the National Heritage Department, it added.
"As for Lot 20013, the lease offer was made by LGM Properties Corporation (LGMPC) in October 2020, through an open and transparent tender.
"Several companies had applied through the tender and following strict criteria, processes and procedures, the highest bidder Al-Noor Foundation was selected," read the statement.
The decision on the lease of Lot 20013 and sale of Lot 20012 has not yet been decided by the LGM Board and as such, has not been tabled to Khairuddin for his consideration and approval, it added.
Therefore, LGM reiterated that no lease agreement or sale and purchase transaction has been signed with any party, adding that it viewed seriously the false statements and factual errors on the matter which have gone viral on social media.
LGM said according to the existing rules, all property valuations, whether for lease or sale, would first be referred to the JPPH before lease rates and current market values were determined to ensure the best returns.
Earlier a report that the related properties were leased and sold at below market price as claimed by an NGO was widely shared on social media. - Bernama
