KUALA LUMPUR — Feb. 19, 2019: The Ministry of Defence (Mindef) is saying that it may have lost at least RM500 million due to land swap deals involving development projects agreed to by the previous Barisan Nasional government.
The final report from the special committee that investigated procurements and governance and finance chaired by Tan Sri Ambrin Buang was accepted by the Cabinet on February 13.
Bernama quoted Defence Minister Mohamad Sabu as saying that the findings revealed that there were 16 land swap projects involving 1,286 hectares worth RM4.756 billion and development costs of RM4.886 billion.
The ministry was informed that a majority of the swaps were not carefully planned and due diligence not properly done. Some projects dragged beyond the contract period while some that were completed were of inferior quality.
Mohamad said there was also political interference in the selection of locations.
“I will instruct my officers to lodge reports with the police, MACC and other agencies,” said the minister.