Knowledge management valuation
Former transport minister Ling Liong Sik disagreed with questions from the prosecution during his cross-examination today, saying he could not understand the calculation for the Port Klang Free Zone (PKFZ) project land.
The questions were related to the value of the land at RM25 per square foot (psf) for the purchase of the land from Kuala Dimensi Sdn Bhd (KDSB) for the PKFZ project at RM1.088 billion, which included interest and other costs.
In his testimony, the former MCA president pleaded ignorance and said he did not understand how the calculations were made.
This was despite a letter from the Valuation and Property Services Department (JPPH) dated May 11, 2000, with an annex showing the calculations, which was addressed to him.
“I disagree, but I do not understand what it means, ” Ling said in replying to DPP Tun Abdul Majid Tun Hamzah, who is also the head of the Prosecution Division in the Attorney-General’s Chambers.Earlier, Tun Abdul Majid (right) read out the annex that said the land price according to JPPH’s evaluation of the 1, 000-acre plot RM18psf or RM650 million, and when KDSB asked for “a special price”, the department increased its valuation to RM21 psf or RM759 million.
Source: Free MalaysiaKini
Derivatives: Markets, Valuation, and Risk Management (Wiley Finance)
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FYI: NBMBAA...(more forum hijacking)
Their members are pretty clued in to the movers and shakers of the business world, they manage their money like moguls and they definitely play golf. There are many impoverished blacks who do not have knowledge of how to access financial planning; there are many impoverished whites in the same situation. However, there are black business groups whose members are great financial planners, make hu...he valuation of non-white neighborhoods. But then, I think some northside white neighborhoods are hideously OVERvalued. Andersonville is not even on a train line and further away from some non-white neighborhoods and homes are twice as expensive.
And really, sadly, I hear the golf course really is where the real deals are made. Aaarrgh! I'll never be a "success" because I don't play golf!
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