Writing in his blog, Zainuddin claimed that instead of earning admiration, the decision for LTH to sell the land it purchased just a month ago from 1 Malaysia Development Berhad (1MDB) has resulted in a loss of dignity for the federal government.
“Anyone who is not blind can see that the advice (or directive?) from Prime Minister Datuk Seri Najib Razak that LTH sells the land it bought for RM188.5 million from 1MDB had been made in a state of panic.
“A decision made in such hurried fashion and out of panic does not reflect maturity of judgment but reveals the leadership’s weakness,” the former information minister wrote.
Yesterday, days after details of LTH’s controversial land deal with 1MDB hit media headlines, the pilgrims fund announced that it will sell the 1.5-acre land plot in the Tun Razak Exchange (TRX) next week, on Najib’s advice.
Fund chairman Datuk Seri Abdul Azeez Abdul Rahim said the decision to sell the plot, which was a U-turn from a decision made by LTH directors on Friday, was to “respect the sensitivities” of the rural Malay folks who had deposited their savings in the fund.
But Zainuddin scoffed at the reason, even claiming that it made the public “vomit”, pointing out that the fund had only decided to be sensitive to its depositors after the controversial land deal was exposed in public.
He added that the exposé on the deal, made at a time when 1MDB is still under probe for alleged impropriety, has led the public to see the truth in former prime minister Tun Dr Mahathir Mohamad’s attacks against the troubled state-owned firm.
“The assertion that LTH’s land purchase from 1MDB was not a move to bail the firm is hard to stomach because the public already believes that the deal was deliberately kept hidden from them,” Zainuddin said.
Earlier this week, reports of LTH’s controversial land investment hit media headlines after it was revealed that it bought a plot of land in the TRX last month from 1MDB, which is currently saddled with a RM42 billion debt.
LTH reportedly paid RM188.5 million at RM2,773 psf for the land, which is 43 times what 1MDB paid four years ago when it purchased the plot for just RM4.5 million at a rate of RM64 psf.
The expose sparked outrage among lawmakers from both sides of the political divide, including even Umno leaders like Tan Sri Muhyiddin Yassin, Datuk Seri Hishammuddin Hussein and Khairy Jamaluddin, and fuelled concerns raised previously over 1MDB’s dealings.
Noting that Dr Mahathir has been leading the attacks against Najib’s leadership over a number of issues apart from the allegations against 1MDB, Zainuddin then urged to public to pray that the veteran statesman stays in good health in order to ensure the government stays in check.
“Many have told me – thank goodness Dr Mahathir is still alive,” he said. “What if he had passed away a long time ago? Who would have exposed 1mdb... who would have been brave enough to champion these issues?”
“Let us pray that Allah continues to bless him with good health and longevity, not just to see Najib in a panicked state but to ensure the country is ruled by a leadership that can restore the confidence of the public, especially that of the Malays and Muslims,” he said.
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