Land to be given to Malaysia worth billions: analyst

[cheekenpie]

Worth the money?

Business @ AsiaOne
Land to be given to Malaysia worth billions: analyst
The parcels are located around Singapore's glamorous Marina Bay. -AFP
Wed, Sep 22, 2010
AFP

SINGAPORE - The prime pieces of land Singapore will give a Malaysian-led consortium to resolve a long-standing dispute is worth up to $7 billion, a leading property analyst said Tuesday.

The parcels, located around Singapore's glamorous Marina Bay, were ceded in a land swap agreed Monday under which Malaysia will give up property it has owned inside Singapore as part of a railway dating back to British colonial rule over both countries.

Singapore offered 5.29 hectares (13.1 acres) of land in two plots, according to a fact sheet provided by the ministry of national development (MND).

A company known as M-S Pte Ltd will take ownership of the land for development, with 60 per cent of the equity held by Malaysian investment agency Khazanah Nasional Berhad and 40 per cent by Singapore's Temasek Holdings.

The plots, loosely referred to as the "Marina South" and "Ophir-Rochor" parcels, were designated as "white" land use areas by the MND which means they could be used for high-value commercial, hotel or residential projects.

The Ophir-Rochor land parcels "can range anywhere from 1.38 billion to 1.9 billion" in the current property market, said Nicholas Mak, executive director of research and consultancy at SLP International Property Consultants.

"The one at Marina (South) can range from 3.5 billion to five billion," he told AFP.

Malaysia's ownership of railway land that goes deep into Singapore territory had been an irritant for decades but both countries have vowed to resolve all outstanding issues and promote long-term cooperation.



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[saratogas]

I don't understand why Sink Gahment need to give them so much $$$? The railway land is in Sinkapore and under Sinkapore rule... Tax them heavily until they give up those land is better then this swap deal...

At the end of the day what is it for us?

 

[shunquan]

I don't understand why Sink Gahment need to give them so much $$$? The railway land is in Sinkapore and under Sinkapore rule... Tax them heavily until they give up those land is better then this swap deal...

At the end of the day what is it for us?

To quote a wise man, "YOU SPASTIC GAY MAGGOT!".

Someone in this forum has explained that the land has never been under Singapore rule. Not under the PAP. Not under Lim Yew Hock. Not under David Marshall. Not even under the British. So giving them land which is under Singapore rule in exchange for sovereignty over the railway land is a very small price to pay.

 

[cheekenpie]

To quote a wise man, "YOU SPASTIC GAY MAGGOT!".

Someone in this forum has explained that the land has never been under Singapore rule. Not under the PAP. Not under Lim Yew Hock. Not under David Marshall. Not even under the British. So giving them land which is under Singapore rule in exchange for sovereignty over the railway land is a very small price to pay.

Then the exchanged land is owned by who?

 

[shunquan]

Then the exchanged land is owned by who?

Owned by Malaysian government, but under sovereignty of Singapore.

Unlike the railway which is actually technically Malaysian land. That is why they used to operate their immigration counters at the railway, until Singapore plugged the loophole by refusing to operate the Singapore immigration counters there (you can't enter Malaysia before leaving Singapore).

 

[saratogas]

To quote a wise man, "YOU SPASTIC GAY MAGGOT!".

Someone in this forum has explained that the land has never been under Singapore rule. Not under the PAP. Not under Lim Yew Hock. Not under David Marshall. Not even under the British. So giving them land which is under Singapore rule in exchange for sovereignty over the railway land is a very small price to pay.

So you are say that those killed on the railway tracks died in Mudland, how come Mudland Police not called in to investigate but Sinkie Police? If its their land then we shouldn't have anything to do with it let along defending it.

So if Mudland soldiers march down the railway track we cannot attack them becos its their land!?:oIo:

 

[cheekenpie]

Owned by Malaysian government, but under sovereignty of Singapore.
http://tinyurI.com/37bx7t5
Unlike the railway which is actually technically Malaysian land. That is why they used to operate their immigration counters at the railway, until Singapore plugged the loophole by refusing to operate the Singapore immigration counters there (you can't enter Malaysia before leaving Singapore).

Ok. That means the land in marina bay and rochor will not become cowboy town?

And now all land in Singapore is ours?

 

[shunquan]

Ok. That means the land in marina bay and rochor will not become cowboy town?

No, in fact, it will become condo, both Malaysia and Singapore will sell it away. Everybody happy.

And now all land in Singapore is ours?

Once the deal is done.

 

[shOUTloud]

I think we have to give it to the govt for this one. Sovereignty is priceless. Why else you think Mahathir is ranting in Malaysia? it is one stick which Malaysia can use to hamtam Singapore as and when they feel shiok.

 

[Orion]

Stupid Malaysia PM, he tio bribed so easily.

He giving up a piece of land that literally run across singapore, lands that M'sia owned to exchanged for reclaimed lands that must be jointly owned by temesak. Now he needs passport for his army to reach the southern part of Singapore.

What type of a logic is that. Tanjong pajar and bukit timah lands worth much more de. Stupid of him.

 

[red amoeba]

i think this shld close the chapter on one of the "thorns" since Colonial days...i thin Old Mr Lee wanted this resolved before ahem...he is gone.

He did not manage to solve it and so left it to his son...from my point of view...to sacrifice prime land in Marina (which will be our future financial district) is the necessary compromise to resolve the issue). Otherwise, mudland have the "law" on their side...look at what they have been doing to the land...NOTHING...weeds overgrowing providing a heaven for illegal immigrants, drug runs, smuggling and brothels.

also, formerly with the CIQ at Tg Pagar we had the irony of u entering a country without formally leaving the other - which is a slap in the face of the integrety of our law enforcement. So, we need to resolve it one way or another. Personally I feel, the land exchange is just on the surface - there was something else that we gave in order to get Mudland to the nego table. Mahathier was adamant abt negotiation, Badawai did not talk...only when Najib came on, he was willing to talk....in fact, after Najib came on, Singapore-Mudland relationship warmed up...

Anyways...for the greater good, we have to pay this price...because seriously the land tracts given up is definitely not as valuable as the one we gave away. How can that plot of Tg Pagar land be worth the same as Marina? Don't even talk about the land at Ophir/ Rochore...compare to Bt Timah?? Yah. build more GQB probably....

Whatever it is, this is diplomacy...now just wanna grab my camera go shoot the train station before it is torn down...or prob take a train ride from there before it becomes history...

 

[zuoom]

never expect a deal like this to happen.

very interesting.

 

[cheebye]

The land where the railway tracks are worth more than 7 bln. When our bloody government develop them, it could jolly well worth dunno how many bin bln bln....

Malaysia government should not barge with our stupidpore government, just continue to use the tracks .... sickapore government cant do anything, malaysia government oso wont lose anything!

Hope Malaysia will take back the tracks .... otherwise kranji, sungei kadut, woodlands etc all next time very jiatlah!

fuck pap to hell!!!!

 

[shunquan]

The land where the railway tracks are worth more than 7 bln. When our bloody government develop them, it could jolly well worth dunno how many bin bln bln....

Malaysia government should not barge with our stupidpore government, just continue to use the tracks .... sickapore government cant do anything, malaysia government oso wont lose anything!

Hope Malaysia will take back the tracks .... otherwise kranji, sungei kadut, woodlands etc all next time very jiatlah!

fuck pap to hell!!!!

What in the world is your problem?

 

[VeryWise]

I have to give kudos to the government in this issue. On the surface, we look like in the losing end by giving the Malaysian government billions worth of land parcels. But if I am not wrong, the land parcels are not fully owned by them, we have 40% share. More importantly, these plots aren't freehold. There is a number of year. In exchange, we gain back full ownership of all lands. It's a small price to pay actually. Moreover, any development on the land, Malaysian side have to cough out some money. It's win-win for us. As for why Najib is convinced so easily, it's anybody guess.

 

[shunquan]

I have to give kudos to the government in this issue. On the surface, we look like in the losing end by giving the Malaysian government billions worth of land parcels. But if I am not wrong, the land parcels are not fully owned by them, we have 40% share. More importantly, these plots aren't freehold. There is a number of year. In exchange, we gain back full ownership of all lands. It's a small price to pay actually. Moreover, any development on the land, Malaysian side have to cough out some money. It's win-win for us. As for why Najib is convinced so easily, it's anybody guess.

Najib realises that fighting Singapore is no use. It is not a zero sum game and there is opportunity cost in not co-operating.

 

[cheebye]

PAP is too CUNNING.

FUCK THE PAP TO HELL.

 

[annexa]

Fuck lah, you all think the knn land inflation price all these years for no purpose? Now the railway land is low valuation because not developed, but the land we trade them for are over-valued!

 

[shunquan]

PAP is too CUNNING.

FUCK THE PAP TO HELL.

Is "Bye" your new Christian name? Dr Bye Chee?

 

[cheebye]

IS lee CHEE BYE

FUCK THE PAP TO HELL.