Businessman alleges irregularities in sale of Penang Turf Club land

A prominent local businessman has lodged a police report against the Penang Turf Club (PTC) committee over alleged irregularities in the sale of the club’s 105ha plot of prime land in Batu Gantong here.

Tan Sri Tan Kok Ping, a PTC ordinary member, turned up at the state Commercial Crimes Department at the police contingent headquarters in Penang Road with his lawyer at 11am yesterday.

He is questioning why the land, where the 144-year-old turf club is located, was sold for only RM488mil when the actual value was more than double the amount.

Tan also wanted to know why the committee had failed to get the approval of the club’s trustees before signing the sale agreement in 2002 with developer Abad Naluri Sdn Bhd.

Tan, who made the report on behalf of other PTC members, declined to comment on the matter.

Acting state police chief Senior Asst Comm I Salleh Mat Rasid confirmed that a report had been lodged.

It is learnt that police will soon call up the PTC committee members to give a statement on the matter. They will also ask to look into the terms of the sale agreement.

PTC assistant general manager and secretary Leow Khin Ming said it was still too premature to make any comment.

“We do not have any knowledge of the police report that was lodged against us. No one has contacted us about it till now,” he said.

The developer was supposed to deliver a replacement racecourse in Batu Kawan this year as part of the agreement but has yet to do so.

The completion of the new racecourse has been extended to 2011.

The plot of land in Batu Gantong has been earmarked for the Penang Global City Centre (PGCC), a project under the Northern Corridor Economic Region. It was launched last year. - By The Star

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