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Saturday, November 12, 2011

No loss occurred over Talam takeover

The Selangor Government hopes to make RM1.2bil after taking over Talam Corporation two years ago.

Mentri Besar Tan Sri Khalid Ibrahim said the acquired plots of land were in Kuala Langat, Kuala Selangor and Hulu Selangor.

“They are from projects in Bukit Beruntung, Bestari Jaya and Canal City,’’ he said in reply to a question from Datuk Mohammad Bushro Mat Johor (BN-Paya Jaras).

Khalid said the state had also cashed out RM50mil earlier by taking over Talam.

He said the state had obtained bank loans as part of its efforts in paying off debts owed by Talam to some companies.

“We incurred a total cost of RM391mil from the takeover bid.

‘’We have been successful in taking back the plots of land that have been given to cronies.

“We have returned the land to the people of Selangor with the opportunity of making RM1.2bil from the land value alone,’’ he said.

Khalid said a book would be released on how the reconciliation exercise was done.

He also said there was an exhibition on the exercise at the state secretariat in Shah Alam recently.

By The Star

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