SINGAPORE (Jan 15): Bank Negara Malaysia’s disclosure that it has purchased 55.79 acres in Kuala Lumpur for an estimated RM2 billion ($665.4 million) from the government has puzzled the market on several counts.

Industry observers were quick to say that, first, it was rare for a government agency to buy land from the federal government and, second, the transaction was done at market price.

Although the central bank says it plans to use the land for the development of a financial education hub, in the past, government land was transferred to public universities at minimum cost, as education is deemed a public good.

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