PKR: Shahrizat's family owns RM10mil S'pore condo

In a new twist to the National Feedlot Corporation (NFC) saga, PKR today exposed that the family of cabinet minister Shahrizat Abdul Jalil owns a luxury condominium in downtown Singapore worth about RM10 million.In a press conference, PKR secretary-general Saifuddin Nasution today revealed documents showing that the minister’s family owns a unit at the award-winning Orchard Scotts condominium on Anthony Road since Jan 27, 2010.

“The condominium was bought for S$4.1 million and has a floor size of 2,282 square feet, which is one of the largest units in the luxury condominium in downtown Singapore, according to the Singapore Redevelopment Authority’s records,” said the Machang MP.

An official search at the Singapore Land Authority, provided to the press today, found that the condominium was registered to Shahrizat’s husband Mohamad Salleh Ismail and their children Wan Shahinur Izran Mohamad Salleh and Wan Izzana Fatimah Zabedah Mohamad Salleh. It is unclear if the unit is rented out or occupied for personal use.

The women, family and community development minister is under fire after the auditor-general flagged the feedlot project run by her family and costing the government RM250 million in soft loans, as a “mess”.

PKR: NFC bought Putrajaya land, Merc

After the 'cows and condos' fiasco, PKR today dropped another bombshell on the National Feedlot Corporation (NFC), claiming that it had squandered a portion of the RM250 million government loan on land, luxury cars and overseas trips.

PKR strategic director Rafizi Ramli (right) today said the company's financial documents had showed that NFC had transferred RM3,363,507 to its sister company National Meat and Livestock Corporation (NMLC) to purchase two plots of land in Putrajaya in December 2009.

"It is highly unlikely that the land bought in Putrajaya are intended for raring cows," quipped Rafizi, in reference to the two plots which are identified as PT1886 and PT1887.

The purchase through NMLC, Rafizi adds, is the same modus operandi adopted in the purchase of two luxury condominiums in Bangsar at RM6.9 million each and the company, unlike NFC, is wholly owned by Women, Family and Community Development Minister Shahrizat Abdul Jalil’s family.

RM70k rental for cattle condo ‘unbelievable’, say property gurus

KUALA LUMPUR, Nov 18 — The reported RM70,000 in monthly rental for not one but two condominiums owned by the National Feedlot Corporation (NFC) has property consultants and real estate agents shaking their heads in disbelief. The experts say that the highest rental that can be expected for even the penthouse at Bangsar’s One Menerung condominium is about RM24,000 per month.

They also point out that even if the tenants were renting the biggest condominium unit at One Menerung, which is between 6,000-7,000 square feet, the tenants would be paying least RM10 per sq ft, which is double or more the rate at KLCC’s Binjai On The Park, currently KL’s most expensive condominium address.The NFC also said yesterday that the rental yield for the two condominiums had hit 12.9 per cent, which is far in excess of the industry benchmark of three per cent or less.

“Who is the tenant?” asked one veteran property consultant. “It is unbelievable. To get RM70,000 for a condominium is unheard of. Usually when renters pay more than RM15,000 they expect to get a whole luxury bungalow.”He pointed out that multinationals were very unlikely to have such a huge budget for rent and wealthy Arab businessmen would prefer to buy their own place rather than rent.Real estate agents for One Menerung contacted by The Malaysian Insider said that it was “not possible” to get RM70,000 in monthly rent and that it would be difficult to find anyone willing to pay even RM4 a sq ft.