From day one
when the Prime Minister as Finance Minister I , Datuk Seri Najib Tun Razak
, and Datuk Seri Haji Ahmad Husni
Hanadzlah Finance Minister II found out that Injustice had been done( after
Finance Minister II did extensive research into my case and found out that
great Injustice had been done to me) and decided to correct it, the cards were
stacked against me. Instead of doing a proper Settlement Agreement to return
the building MARINARA to me, Danaharta’s lawyers Shook Lin & Bok insisted
on a Sale and Purchase Agreement between Danaharta Hartanah Sdn Bhd and Hajjah
Marina Yusoff. The original company Pekeliling Triangle Sdn Bhd was erased from
record and memory. To date neither the original Special Administrators from
Ernst and Young, Tan Eng Huat and two others, (who retired in December 2005)
nor the so-called ‘Receivers” appointed in their place, has ever made a proper handover report or wound up the company. The
Company seems to have disappeared into thin air. This is a clear cut case of abuse of power and non-accountability
which should be looked into immediately after the General Elections by
whichever party that comes into power.
In the first
“Sale and Purchase Agreement” which Shook Lin & Bok took their sweet time
to prepare leaving me very little time raise the fund or sell the building.
Despite that I managed to get Tabung Haji to agree to buy the building through
the Minister Dato Jamil Khir. We shook on it.
I
accordingly reported to Datuk Kamal of Danaharta that Tabung Haji had agreed to
buy the building for RM300 million. It
seemed to shock them. Behind my back ‘Danaharta’ called Tabung Haji not to buy
the building as it was ‘not in a good condition and they needed to ‘renovate
it’. Thus the official letter which was supposed to confirm the agreement turned out to be a letter that they did not
wish to buy the building from me as they could go direct to Danaharta and buy
it for only RM250 million.
Before I
could get another buyer Danaharta started to demolish the apartments. I tried
to stop them as my Arab buyer specially liked the apartments and wanted to buy
the building with the apartments. All pleas not to demolish the Apartments were
ignored. All my expensive furnishings and furniture were stolen. You can make a
good guess who stole them.
When my
potential buyers found out that the apartments had been demolished they
withdrew from the scene. Other buyers were interested to see the building but
were told it was under renovation and ‘ there is no CF to the buildin’g. The
renovation and refurbishment was more than what they had intimated. The concept
of “three in one” was completely destroyed and the ‘classic beauty’ of the
building was destroyed.
Even though
I was given another extension of time, it was frivolous as the “renovation” was
still going on. When they got the CCC in October 2011 they gave me another
three months extension. Being end of year and most top corporate leaders being
on leave . By the time they got round to
make an offer , time had run out and no way would Danaharta extend the time. I
had to write to Datuk Seri Najib and got an extension (it took a few months for
the decision for the extension to be made).
By the time I got the letter dated 12th
October 2012 from Danaharta, giving me
until 31st January 2013, they had
already entered an Agreement with KP in Sept 2012 and gave an option to them to
purchase the building. I ‘heard’ about the option but was unable to confirm as
Danaharta refused to give me a copy of the Tenancy Agreement (until end of
December when it was too late) and KPJ
deliberately kept very quiet and never responded to any of my calls,
letters or request to see them. When I
asked them at the meeting at MOF on the 8th February 2013 why they behaved that way they said they were
advised by their lawyers to lie low and ignore me. What odd and dubious
behavior! ( I note that the Tenancy Agreement was prepared by Shook Lin &
Bok) I am surprised that KPJ which is such a big organization didn’t engage
their own lawyers to do the Tenancy Agreement instead of relying on Danaharta’s
lawyer. I suppose like me, they had no
choice in the matter.
After
getting the Tenancy Agreements at the end of December 2012, I proceeded with my
loan application to Bank Pembangunan for a loan of RM200 million to repay
Danaharta. The Bank was very positive and helpful. Unfortunately one month was
hardly enough time to complete the papers for Board approval and I applied for extension of time
for the Bank to complete the papers and submit for Board approval.
Thus the MOF
kindly called a meeting of the three parties, Danaharta, KPJ and myself. At the
meeting I was informed that KPJ had put in their option to purchase the
building. No price or time frame was mentioned. KPJ said they were still waiting
for the valuation report. I was told by KPJ that CH Williams was preparing the
report. It reminded me of the earlier report by CH Williams prepared at the
behest of Danaharta bringing down the value of the building to RM161 million to
justify giving the building to Danaharta at that price. So now CH Williams is
called again to ‘value’ the building. KPJ admitted at the meeting that they had
received ‘verbal’ indication that the value would be around RM200 million or
less which they would get ‘next week’. I wonder if ‘ Valuers’ are subjected to any code of ethics or can they
make a valuation on a building and qualify themselves by saying they “ did not
enter the building” (which was what they did in the earlier valuation).
I am surprised KPJ put in a letter to exercise
the option to buy without a confirmed price.
The normal procedure should be that the
parties agree on a price before exercising the Option. In their zealousness to
beat me to it and to deny me the extension for time they put in the incomplete
Option.
Now I have to wait for their ‘consent’ for
extension of time in two weeks time,
which I doubt I will get.
I may have
lost the Battle, but I know I have won the War by exposing the unethical and
dubious practices , which I ask the next Government that comes into power to
correct and impose strict ethics and procedure to show TRANSPARENCY AND
ACCOUNTABILITY not just for GLCs but
also all local Authorities and some Government Departments.
Hajjah
Marina Yusoff
9th
February 2013
No comments:
Post a Comment