The Star Online: Nation
The Star Online: Nation |
- Banks urged to go easy on CTOS, CCRIS flagging to help young buy houses
- Six major roads to close for run on Saturday
- PKFZ case: Dr M says Ling did not cheat Cabinet
| Banks urged to go easy on CTOS, CCRIS flagging to help young buy houses Posted: 08 Oct 2012 08:44 AM PDT KUALA LUMPUR: Banking institutions were urged to be flexible to the young whose names are listed on Credit Tip-Off Sdn Bhd (CTOS) and Central Credit Reference Information System (CCRIS) to enable them to get housing loans. Datuk Idris Haron (BN-Tangga Batu) suggested that the CTOS and CCRIS conditions should not be imposed on them. "They might have made a wrong move in managing their finances at the outset, as a result their names are listed in CTOS and CCRIS and they are facing problems to secure housing loans. So, I propose the Finance Ministry and banks be flexible with them," he said. Idris, who is also Syarikat Perumahan Negara Berhad (SPNB) chairman, said in this manner it would not affect the opportunity of the young to invest in a home. "A house is an immobile property, not mobile property like a car or a motorcycle. It can also be used as collateral. So, if the applicant runs away, the bank can auction the house to recover the amount it lost," he said when debating the 2013 Supply Bill in the Dewan Rakyat. Furthermore, Idris also suggested that the government introduce a ceiling price on high-end housing projects, specifically in urban areas, to control house prices and prevent speculation on property. Idris also suggested that the real property gains tax period imposed be raised to 10 years from five to avoid resale of property in a short period of time. The Dewan sits again Tuesday. - Bernama |
| Six major roads to close for run on Saturday Posted: 08 Oct 2012 07:19 AM PDT KUALA LUMPUR: Six major roads in the city will be closed and traffic diverted in stages between 2 pm and 9 pm on Saturday in conjunction with the 'Nike We Run KL 10k 2012' run. The roads are Jalan Ampang in the direction of Jalan Sultan Ismail (2 pm to 7 pm), Ampang-Kuala Lumpur Elevated Highway (AKLEH) (complete closure from 4.30 pm to 8.30 pm), Jalan Sultan Ismail in the direction of Jalan Kuching (closure of one lane from 4 pm to 7 pm), Jalan Kuching in the direction of Bulatan Dato' Onn (closure of one lane from 4 pm to 8 pm), Bulatan Dato' Onn in the direction of Jalan Parlimen (5 pm to 8 pm) and Jalan Parlimen in the direction of Bulatan Dato' Onn (4 pm to 9 pm). The run organiser said in a statement Monday that Nike Malaysia would work closely with the police, Kuala Lumpur City Hall and People's Volunteer Corps (Rela) personnel to ensure the safety of participants. It said this year's 'Nike We Run KL 10k' race was expected to draw 15,000 runners. The run is part of the global 'Nike We Run' series that sees nearly 400,000 runners from 34 countries taking part in this unique experience, which combines run and music. The run will be flagged off at 5.30 pm at Jalan Ampang and will end at Padang Merbok. - Bernama |
| PKFZ case: Dr M says Ling did not cheat Cabinet Posted: 08 Oct 2012 07:11 AM PDT KUALA LUMPUR: Former Prime Minister Tun Dr Mahathir Mohamad told the High Court Monday that ex-Transport Minister Tun Dr Ling Liong Sik did not cheat the Cabinet or the Government over the land price in the Port Klang Free Zone (PKFZ) project. He said he neither lodged a police report that both he and the Government had been cheated by Dr Ling over the PKFZ land nor did any of his officers ever complain that there was any mistake, omission or material contradiction. Asked by Dr Ling's lead counsel Wong Kian Kheong, Dr Mahathir, 87, who was Prime Minister between 1981 and 2003, said he was interviewed by police officer Supt R. Rajagopal twice. "I remember that one of the three officers present during the recording of my statement said that if they had interviewed me earlier and heard my remarks, they would not (have) charged Dr Ling," he said, adding that he was only interviewed in late 2011 or early this year while Dr Ling was charged in July 2010. The Finance Ministry, stressed Dr Mahathir, was also responsible for calculating the total cost of the land and the payment method as reflected in the extract of the Cabinet meeting in 2001. Dr Mahathir also stressed that the Valuation and Property Services Department (JPPH) came under the Finance Ministry's purview and that the Economic Planning Unit set the ceiling or budget for each project, adding that the ministry, as a whole, was the one in charge of the total cost of the land procurement. He told the court that he was very aware of the project and that he had personally visited Dubai's Jebel Ali Free Zone International (which the PKFZ was modelled after) twice, adding that he wanted it implemented in Malaysia because he felt it was good for the port and the country. "We (the Cabinet) were convinced that the project was very good and wanted to get the land as quickly as possible", he said, adding that he did not recall any minister making any serious objection against the project as they all felt keen on having it. Questioned about the six letters he had received from turnkey contractor Kuala Dimensi Sdn Bhd, which contained the discussed land price of RM25 and the method of financing via deferred payment, Dr Mahathir said he had discussed this with his officers and none of them had ever informed him that the land price at RM25psf worth RM1.088bil involving a 15-year deferred payment did not comply with that by JPPH. Dr Mahathir said that as Finance Minister and Special Functions Minister then, he was also not in favour of compulsory land acquisition, adding that normally the Government would only want to acquire land at low valuation. "The valuation officers want to help the Government save money. Well, as a politician, I depend on popularity. I would not want to undervalue the land as this would not make me popular and my status depended on popularity," he said, prompting laughter in the courtroom. If the price was fairly valued, he added, it would be all right but if it was undervalued, it would not be a popular move. None of the ministers or his Finance Ministry officers, added Dr Mahathir, had complained to him that the content of a letter by Dr Ling, dated April 3, 2002, (over the proposal for land acquisition in the PKFZ development) had deceived both him and the Cabinet. Asked about his understanding about the land price in 2002, he said: "If made in cash, no interest, but pay in over time, got interest. According to Appendix A, payment of 10% is cash while the rest is to be paid in 15 years." Asked if the RM25psf had included interest, he said: "No, it cannot". To a question if he had informed Supt Rajagopal that the RM25psf did not include interest, Dr Mahathir said he had indicated to him that "it would be more (interest would have to be added on) if it was to be paid over a long period of time." "The price mentioned is the cash price. If over time, then we have to add faedah (interest)." Dr Mahathir said he had also sent a letter to Dubai, saying that the Government was still interested in the PKFZ project although there were encumbrances on the land. He also denied that the letter was sent at Dr Ling's behest, adding that he was "anxious to get the project". Dr Ling is alleged to have deceived the Government by not revealing to the Cabinet an additional interest rate of 7.5% annually in the RM1.088bil (at RM25psf) purchase of the land for the PKFZ project at the Prime Minister's Office in Putrajaya between Sept 25, 2002 and Nov 6, 2002. He also claimed trial to two alternative charges of cheating, which carry a lesser penalty. Related Stories: |
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