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Media conference statement by Lim Guan Eng in Komtar, George Town on Tuesday, 21st February 2012: 

Can Datuk Zainal Abidin Osman and Kota Belud MP Datuk Abdul Rahman immediately retire from politics now?  

There is no doubt that the sale for the 102.3 acres of 102.3 acres Bayan Mutiara Land done through an Request For Proposal that was:

  • an open competitive tender

  • well published on the websites and newspapers and

  • observed by renowned independent Chartered Surveyors and Registered Valuers, Raine & Horne International at briefing sessions held in Penang, KL and Singapore.

The highest price offered during the open competitive tender was chosen.

When the tender was called in 2010, there were 37 parties that bought the tender documents for RM3,000 each. However when the tender closed on Dec 31 2010, only 4 tender proposals were received. They were:

  1. Chia Tai Xing Ye Industrial Development Ltd

  2. Ivory Properties Group Berhad

  3. AG Pearl Sdn Bhd (Disqualified due to non submission of Earnest Deposit of RM1.2 million)

  4. SP Setia Berhad

The following cash proposals were received:

Payment Period 3 years 5 years 8 years
Ivory Properties RM215psf RM240psf
SP Setia RM180psf RM210psf RM225psf
Chia Tai Xing Ye RM200psf

As Ivory made the highest offer at RM240psf or a total sum of RM1.072 billion, it was chosen. The state government further requested Ivory to improve on the payment terms of RM240 psf over 8 years payment to RM240 psf over 5 years payment. This was accepted by Ivory.

Can UMNO Penang Chairman Datuk Zainal Abidin Osman and Kota Belud MP Datuk Abdul Rahman Datuk Dahlan immediately retire from politics now that the Penang PR state government has proven beyond a shadow of a doubt that the sale of 102.3 acres of Bayan Mutiara land was done by open competitive tender?

*Lim Guan Eng, Penang Chief Minister



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