PUTRAJAYA (Jan 3): The Malaysian Rubber Board (LGM) was short-changed by at least RM780 million for partial land sale in Sungai Buloh to a special purpose vehicle (SPV) under the Ministry of Finance (MoF) back in 2010.

LGM, Primary Industries Minister Teresa Kok told reporters at a press conference today, also incurred losses of RM70 million after paying for an incomplete development in a separate portion of the same land — Lot 481 in Sungai Buloh — which was awarded in 2013 and terminated months before the 14th General Election.

The 2,800 acres sold to the SPV, Aset Tanah Nasional Bhd (ATNB), was part of 3,385 acres within Lot 481, said Kok. It was sold by LGM to ATNB for RM1.5 billion via direct sale under the instruction of the Cabinet at the time, she added.

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