Taman Rimba Kiara - minister needs expert advice on compensation

We refer to the letter Khalid needs legal advice for Taman Rimba Kiara.

Federal Territories Minister Khalid Samad’s media statement yesterday (Tue 26 said that a RM150 million compensation was based on what the developer has "claimed" in the Taman Rimba Kiara court papers.

We would refer the minister and the media to the very clear explanation provided in the link above as to what could or could not be claimed as compensation where a project is cancelled.

A summary of a statement of account was filed by the developer, Memang Perkasa (a subsidiary of Malton Berhad) in November 2017. Note that this is the developer’s statement of what has been paid. It is not a claim for compensation nor has the court recognised any of these amounts as qualifying for compensation.

From the summary, the developer states that it has paid out about RM115 million in connection with the project. RM84.4 million of that total figure comprised land premiums (RM60.8 million) and DBKL development charges/infrastructure charges (RM20 million plus).

Another RM26 million comprised JV payments to Yayasan Wilayah Persekutuan.

These two categories alone amount to RM110 million already. If the project is cancelled, these amounts would be refunded in exchange for the 12 acres being returned. These would be refunds, not compensation.

As for actual amounts expended on the project in the form of contractor and consultant payments and other miscellanous items, as of November 2017, these amounted to about RM5 million only.

Again, we urge the minister to seek proper, independent advice as to what amounts to "compensation" in order to ensure that the cabinet receives a fair and accurate picture. - Mkini

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