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Yoursay: Yes, develop Kg Baru but don't use tax money to do it

Yoursay

Published
Modified 24 Apr 2019, 9:15 am

YOURSAY | ‘By all means, develop the land - but don't use tax money to do it.’

Gov't plans to buy out Kg Baru, may need RM10 billion

Quigonbond: This news piece yet again demonstrates that people can talk up a good talk, but when it comes to actual policymaking, they leave a lot to be desired.

First of all, I'm confused with the objective of the federal territories minister. Is the buyout just to get rid of an eyesore, or is the idea to unlock the value of Kampung Baru?

If it is just an eyesore, you don't need to spend RM6 billion to RM10 billion. All you need is to spend a couple of million ringgit to spruce up the whole place and even encourage the development of a cottage industry so that you can turn Kampung Baru into a tourist attraction.

If it is about unlocking value, which end-purchaser will buy it if it is Malay reserve land? The very notion of Malay reserve land is that it can only be sold to a Malay. Which developer will want to participate when the buyers are only Malays?

It's not even an issue of opening up to all Malaysians. If it is not opened up to foreign buyers, you can expect very tepid interest.

If the plan is to provide reasonable compensation to current owners, but eventually unlock the land’s value, there will need to be partial or full de-gazetting of Malay reserve status. Then this exercise is a sham, and very soon Khalid Abdul Samad will be lambasted by the opposition harping on race, religion or royalty.

Secondly, where did the minister even get his advice and ideas from?

Some of the commentators are right. Here we are talking about a huge federal fiscal deficit, and Khalid is thinking about borrowing/spending RM10 billion, using money from taxpayers (of all races). Where is the cow sense here?

Peace: Yes, I cannot understand the logic of such an idea of buying over the land.

The Pakatan Harapan government keeps telling the rakyat that we are a trillion ringgit in debt, and yet the government wants to spend such a huge sum. Where is the logic?

Anon Two: If taxpayers are paying for the buyout, then it should be resold to the highest bidder, so the government can recoup its expenditure.

If it remains Malay-only land, what is the point of this exercise? What if the government overpays and resells the land to only Malay developers at a lower cost? This sounds like another Felda fiasco in the making.

Odysseus: Indeed, the money should not come from taxpayers. It should come from a fund set up to develop Kampung Baru.

The profit generated from the redevelopment project should fund the land acquisition.

Khalid: By all means, develop Kampung Baru. However, don't use tax money to fund the development.

If you have to use tax money, then the kampung is still not ready for development.

Durian Lazat: This setup is open to corruption. It’s the wrong method entirely!

Khalid mentioned one key aspect - the landowners should be considered millionaires. I’m certain that once they realise this, and as the value of their property rises even more, they will make a lot of money selling it.

The only way the buyers are going to get value for their money is to develop the property and secure rent. There is no need to waste tax money on this.

Vgeorgemy: The commercial success of the development very much depends on the type of commercialisation intended to be carried out. The classes are ‘wealth creation’, ‘wealth grab’ (rent-seeking arrangement) and ‘wealth destruction’ (kleptocracy).

If we accept the model of development of Pudong, Shanghai in China where the commercial places were allotted to wealth creators comprising private and international investors, the Kampung Baru occupants will be easily able to derive four times the current value as compensation.

The wealth creators will able to multiply the amount of development in a short time. It all depends on the type of commercialisation the development intends to carry out.

Anonymous 770241447347646: It is a good idea to develop the Kampung Baru land, and a very timely project.

It will also help to spur the Malaysian economy, with the East Coast Rail Link (ECRL) and the Sungai Besi land project (Bandar Malaysia) being approved.

However, to find 100 percent Malay investors or purchasers is not going to be easy.

Blackwaterpumpkin: Khalid, this is a master stroke and should be followed through and supported. However, please, for heaven’s sake forget about the racial twist. This is a national project.

Establish a municipality bond or similar instrument to secure cash, and then buy over the whole property and develop it into a masterpiece, a showcase like any other housing estate complete with modern infrastructure.

Malay professional architects and engineers should come forward with ideas to make it a reality.

After comedian wins Ukraine polls, Rafizi reflects on M'sian politics

Well That’s Fantastic: You need to be quite smart to be a comedian; writing jokes is not for dummies generally speaking.

Most politicians are not very smart people, they are voted into power based on popularity alone, not qualifications, and we expect politicians to make smart decisions.

If I was hiring someone, it wouldn't be based on popularity, and yet we empower unqualified people to run our countries.

Puzzling: This is proof of the failure of western democracy. A more effective model is that of guided democracy as practised in Singapore and China, among some others.

In those countries, a comedian or B-grade actor can never be president. This is because the route to the top is so tough that only the best, not only the most popular, will qualify.

Prudent: Comedians winning elections? Nothing new under the sun. Comedians have been winning elections in Malaysia for generations.

And US President Donald Trump was a reality show host (aka comedian) after reportedly declaring bankruptcy six times.

Anonymous_2679c6e5: Many politicians in Malaysia are a joke. In Ukraine, comedians can become president. In Malaysia, politicians become comedians. And dangerous ones at that.

Mainly the BN politicians, and now some Harapan ones.

Anonymous: It shows that Ukraine is desperate for true reforms and people will vote for anybody who brings hope to them.

In fact, democracy everywhere yearns for meaningful change. People are sick with leaders coming and going, while nothing changes.


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