Thought of the day

I thank whatever gods may be / For my unconquerable soul. / I am the master of my fate / I am the captain of my soul. ~William Ernest Henley, Invictus

Government's promises are like the Ringgit, they depreciate with time.

Wednesday, July 8, 2009

In Malaysia, not only the Sultans can have palaces o_0

Zaobao reported that the former Selangor MB, Khir Toyo owns a mansion worth a finger-biting RM24million in Shah Alam. For english, read here.

Facts and figures from zaobao:
  • Land area = 0.3 hectares = 32,291.73 sqft (Waramashit! No wonder the press named it the Khir Palace.)
  • Land value = RM4 mil (This translates into RM123.87/sqft.)
  • Construction cost = RM18 mil
  • Furnishing Cost = RM2 mil
  • Total cost = RM24 mil
The present Selangor MB revealed that the monthly salary plus allowance of an MB is RM48k. This totalled up to RM4.6mil for 8 years, which is the duration Khir Toyo held the post as Selangor MB. So the question is how can he afford to own the luxurious mansion?

Khir Toyo responsed to the million dollar question by claiming that he bought the land and the house for RM3.5 mil, loaned from HSBC in his blog and further clarified that he is paying a whopping
RM15k monthly instalment for his palace with his business income.

Whatever claims it might be, the figures produced by Toyo are dubious and mind him, it might backfire. I urge him to make public the S&P agreement with the previous owner and the HSBC loan agreement to clear his name.

MACC should be on the move now rather than minum pagi, petang and malam. Nonetheless, corruption or not, I guess that Khir Toyo will eventually elude all allegations either way, and move into his mansion with a high-profile house warming party like nothing's ever happened. Hello, remember the Zakaria Palace?

Let's wait and see.

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