PETALING JAYA: The four Australian properties purchased by the investment arm of Majlis Amanah Rakyat (Mara) were acquired at lower than market value, says Datuk Seri Mohd Shafie Apdal (pic).
The Rural and Regional Development Minister said the purchases between 2012 and 2013 had benefited Mara Inc, describing the deals as “productive and profitable”.
“All the properties were bought at lower than the market price at the time, and had profited Mara Inc significantly,” Mohd Shafie was quoted as saying in a news portal on Monday.
It was revealed that the property at 746 Swanston Street was purchased at A$41.8mil (RM120mil) despite being valued at A$43mil (RM123mil) on the market.
The Dudley International House was valued at A$26mil (RM74.52mil), but was bought at A$22.6mil (RM64.7mil).
The property in 21 Queen Street was bought in March 2013 for A$21.3mil (RM61mil), when its market price was listed at A$23mil (RM65.92mil).
The fourth property, also purchased at the same time, cost Mara Inc A$31mil (RM88.85mil) despite being valued at A$33mil (RM94.58mil) on the market.
All the properties had also appreciated in value by several million dollars in recent years, Shafie added.
He was responding to allegations by the National Oversight and Whistleblowers that the government subsidiary had overpaid for the properties purchased in Melbourne.
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