SHAH ALAM, Feb 26 — The liquidation of land assets in Bukit Broga, Semenyih, to Sutera Maya Resources Sdn Bhd in 2023 was conducted according to procedures that ensured the rights of all parties.
The Selangor State Development Corporation (PKNS) said the deal was conducted without losses incurred, in line with the market value set by the assessment by the Valuation and Property Services Department, stressing that each transaction was done transparently and complied with good corporate governance.
“Any allegations claiming that the deal was done at below current market value are baseless,” it said in a statement today, adding that every transaction would be audited by the National Audit Department per responsible management principles.
Hulu Klang state assemblyman Datuk Seri Mohamed Azmin Ali recently claimed in the Selangor State Legislative Assembly that PKNS faced huge losses over the sale of a plot of Broga land in Semenyih at a price far lower than the current market value.
PKNS said the liquidation of Bukit Broga assets was also part of its long-term strategy to strengthen its core business and focus on higher-impact development projects which would benefit Selangor's people.
It also denied that its Broga properties were strategic property, as they were not strategic for development due to several major factors that restricted its potential.
The Broga land also encompassed land that could not be developed, including forest reserves, land owned by Tenaga Nasional Berhad, Level Three and Four critical slope areas and pools that restricted development.
PKNS noted that there were also trespassing issues and illegal structures linked to the site.
"Therefore, it is improper to assume the Broga land as a strategic asset due to the various physical and legal limitations associated with that property,” it said.
— Bernama
