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Friday, 19 June 2015

Not just a fence around TRX: Guess who paid for all these?

Someone said yesterday that all of 1MDB has developed is only "a fence" and nothing else.

So, who has been paying to develop and equip eight military sites throughout the country? As part of the deal to take over the Bandar Malaysia land in Sungai Besi from RMAF, not only does 1MDB have to pay RM400million to govt for the land but it has to purchase replacement land and fund at least RM2.1b worth of development project for RMAF before it can move RMAF out of Sg Besi and take vacant possession of the land and start doing soil tests and planning.

You still think 1MDB got land cheap from the govt?

The Malaysian Defence blog shares some of these 1MDB developments for the RMAF

SHAH ALAM August 20, 2014 : RMAF is getting another ThalesRaytheonSystems Sentry Battle Control System (BCS)for its new Command and Control (C2) centre to be built at the Subang Airbase in the near future. 
Like the future Sendayan Airbase, the construction of the Subang AOC HQ will be funded by 1Malaysia Development Bhd as part of the redevelopment of the Kuala Lumpur Airbase located at the Sungei Besi Airport. 
Due to various issues, the construction of the new facilities were delayed which Rodzali explained resulted in different start-up and completion dates. 
The Sendayan base is expected to be completed in 2016 and some 3,000 personnel are expected to be based there. A nine hole golf course is also being built just outside the grounds of the new base, a replacement for the Armed Forces golf course at Sungei Besi airport. 
Rodzali said he was generally satisfied with the construction of the Sendayan airbase although he cautioned that it was important that the project team ensured that the deadline was adhered to and the quality of construction was maintained. 
The main contractor for Sendayan is Perbadanan Perwira Harta Malaysia, a subsidiary of LTAT. 
1MDB are also building new facilities for other non-RMAF units operating at the airport including the 31 Artileri Di Raja (Semenyeh) and PDRM Air Unit (Subang). 
According to Rodzali, the 750 acre Sendayan base will be the new headquarters for the service’s Education and Air Training Command. RMAF he said also intend to consolidate all non-aviation related training at Sendayan, especially advanced courses for administration and logistics personnel. 
It will also served as the sport’s excellence centre for RMAF as modern sporting facilities including a mini-stadium will also be built. Quarters for officers and lower-ranking personnel are also being built.

There has been significant progress in the construction works for RMAF in the eight military sites funded by 1MDB. Here are some pictures of the ongoing progress three months ago.

How does 1MDB reflect these spending on RMAF in their financial statements?  Yes, by increasing the land revaluation cost. It's not all just paper revaluation on the properties. Actual money (and lots of it) has been spent by 1MDB on the various projects that will benefit RMAF and Malaysia.

Even TRX itself is not just a fence around nothing. Significant work on the common infrastructure and initial work on the various traffic tunnels have started. After paying government RM220mil for the TRX land, 1MDB has committed to spend about RM3.5billion of its own money on the infrastructure and roadworks at TRX.

This will include several expensive underground tunnels leading out of TRX directly onto nearby highways in order not to add to the already heavily congested golden triangle area.

Govt or Felda or Lend Lease or Mulia are not paying for the TRX infrastructure and tunnels. 1MDB has to pay for them.

Here is the Google Earth location:

Have a look at the progress photos below:

You still think the land is that cheap?

It's these relatively unknown developments that people like Tony Pua and Tun Mahathir and their various blogger cohorts that are not telling you about.

These are some of the hidden costs that 1MDB had to incur that you are simply not aware of.

Imagine funding all the above just on an actual cash injection of RM1 million as paid up capital to 1MDB by the government.

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