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  • Muhyiddin Yassin - Stamford Land Conspiracy Matter

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    The following are excerpts from various reports about a matter heard in the mid-90s, in which Tan Sri Muhyiddin Yassin and others were sued by property developer Stamford Holdings Sdn Bhd.

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    The following are excerpts from various reports about a matter heard in the mid-90s, in which Tan Sri Muhyiddin Yassin and others were sued by property developer Stamford Holdings Sdn Bhd.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    2K views2 pages

    Muhyiddin Yassin - Stamford Land Conspiracy Matter

    Uploaded by

    openid_OtVX6n9h
    The following are excerpts from various reports about a matter heard in the mid-90s, in which Tan Sri Muhyiddin Yassin and others were sued by property developer Stamford Holdings Sdn Bhd.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Muhyiddin Yassin -

    Hiebert , FEER:

    Stamford's court documents insist that the


    Stamford Land Conspiracy company's relationship with the former chief
    Matter minister dates back to 1988. Four years
    earlier, the firm had tried to develop some
    of its huge land holdings near the state
    LAND CASE SETTLED FOR RM405M.
    capital of Johor Baru. But Stamford couldn't
    By Jothi Jeyasingam ,7 October 1999 - The Sun
    get approval for its project until its directors
    met two men who were allegedly
    Muhyiddin's business partners, Syed
    Mokhtar Albukhary and Datuk Yahaya Tabib.
    The following are excerpts from various
    reports about a matter heard in the mid-90s, The two arranged a meeting in Singapore
    in which Tan Sri Muhyiddin Yassin and others between the firm's representatives and the
    were sued by property developer Stamford former chief minister, the firm's documents
    Holdings S/B: allege. Within a year, Stamford and the
    three men had formed a 70-30 joint venture
    Stamford Holdings Sdn. Bhd. has sued to develop some 724 hectares of land.
    Muhyiddin Yassin, chief minister of the Johor When the property was sold in 1994, the
    state, and businessmen Yahya Talib and Muhyiddin group's initial investment of
    Syed Mokhtar Albukhary for damages for M$1.8 million ($735,000) had soared to
    alleged conspiracy in acquiring land in Johor M$83 million.
    through the Land Acquisition Act, the
    Bernama national news agency reported In the meantime, Muhyiddin's group had
    Friday. become "very avaricious," according to the
    documents Stamford filed in court, and
    According to Bernama, Stamford Holdings wanted to form a second joint venture in
    claimed the three had abused provisions of which they would control 70% of the shares
    the Act to acquire its 6,600 acres of land but would pay Stamford only M$74,100 per
    through the Johor State Islamic Economic hectare for its remaining 2,672 hectares,
    Development Corporation. company officials charge.

    The suit was filed at the Kuala Lumpur High When Stamford insisted on retaining its
    Court early this month but was transferred original 70% and on being paid M$185,250
    Friday to the Johor Baru High Court, per hectare for its property, one of
    Bernama said. Muhyiddin's associates allegedly warned the
    company that the land-acquisition papers
    Stamford Holdings also named the Johor were on the former chief minister's desk
    state government as a defendant in the suit, and could be "signed at any time."
    alleging that Muhyiddin and the two Muhyiddin himself allegedly threatened
    businessmen conspired to use the state Stamford in December 1992 by telling one
    government's authority to acquire the land. of its directors that "time is getting short."
    In July 1994, the state government acquired
    According to the news report, Stamford the land on behalf of the Johor Islamic
    Holdings wants the court to declare that the Economic Development Corp.
    Johor State Islamic Economic Development
    Corporation was not entitled to invoke (MALAYSIA --- The Privileged Few
    provisions of the Land Acquisition Act to By Murray Hiebert in Kuala Lumpur
    acquire a private landed property. 6 July 1995,Far Eastern Economic Review)

    (Malaysia's Stamford Sues Minister, The facts of the matter as reported by


    Businessmen - Report Raphael Pura , AWSJ :
    17 February 1995)
    In 1984, Stamford -- which is 90% owned
    The facts of the matter as reported by Murray by three families, the Singapore-based Seet

    Muhyiddin Yassin – Stamford Land Conspiracy Matter 1/2


    family, and the Gan and Wang families from Sdn Bhd to be paid the amount for the
    Malaysia -- applied to the Johor government acquisition of 6,544 acres of land belonging
    for permission to develop a light industrial to it.
    estate on part of the land. Stamford, in its
    suit, claims nothing happened until 1988. The consent order was given by Justice
    Then, Stamford directors met businessmen Zainun Ali in chambers.
    Syed Mokhtar and Datuk Yahaya, who said
    they were Tan Sri Muhyiddin's "close friends Under the settlement, the Johor government
    and business associates," according to the is to pay the plaintiff RM313.25 million while
    Stamford suit. Kelana Ventures Sdn Bhd was ordered to
    pay RM92.12 million.
    According to Stamford's court submission,
    the company in late 1989 agreed with Syed Datuk V. Sivaparanjothi and Manjit Singh
    Mokhtar and Datuk Yahaya, "acting for appeared for the plaintiff while Datuk Abdul
    themselves and [Tan Sri Muhyiddin]," to Aziz Abdul Rahim appeared for the Johor
    create a joint-venture company to develop State Government, Johor Baru Land
    1,766 acres of Stamford's property. The Administrator and former Mentri Besar Tan
    Johor trio, led by Syed Mokhtar, invested Sri Muhyiddin Yassin.
    1.8 million ringgit in the joint venture,
    taking 30% of its equity; Stamford held the Roger Tan Kor Mee appeared for Perbadanan
    remainder. The joint-venture company Kemajuan Ekonomi Islam Negeri Johor.
    acquired the property from Stamford and
    submitted a fresh application to convert it to The judge further ordered that all the civil
    industrial use. The Johor government then suits, civil appeals and miscellaneous civil
    approved the conversion "speedily," applications by the plaintiff be settled and
    Stamford says in its suit in which it also disposed of.
    alleges that the Mokhtar group "made a
    clean profit of 83.2 million." The compensation sum of RM313.25 million
    is to be deposited in the High Court by or on
    According to Stamford, the Mokhtar group behalf of the Land Administrator to be paid
    in 1992 approached Stamford's directors, out to Stamford.
    proposing to develop the remaining 6,520
    acres of Stamford's Johor property. This The additional sum of RM92.11 million is to
    time, Stamford alleges, the group insisted be paid to Stamford by Kelana Ventures,
    on taking a 70% equity stake in a new joint which is one of the interveners/defendants
    venture and proposed that Stamford's land in the case.
    be sold to the venture at 30,000 ringgit an
    acre. Stamford protested that it wanted to The payment is to be made in settlement of
    hold 70% of the venture and should be paid the compulsory acquisition of the Stamford
    more than twice that price for the land. properties by the Land Administrator on
    behalf of Kelana Ventures before the expiry
    (Malaysian Company Continues Suit of 18 months from the date of the consent
    Challenging State Acquisition of Land order.
    By Raphael Pura
    Staff Reporter of The Wall Street Journal
    16 June 1995,The Wall Street Journal) The dispute between Stamford and the
    defendants involved the whole of the
    The case concluded in an out of court Stamford properties in the mukim of Tebrau,
    settlement Johor Baru District and involved a total of
    6,544.4172 acres which were compulsorily
    The land acquisition civil suit filed by a firm acquired.
    against the Johor government and several
    other parties was settled today for a total of Johor govt, parties to pay the sum for land
    RM405 million. compulsorily acquired.
    The High Court ordered Stamford Holdings

    Muhyiddin Yassin – Stamford Land Conspiracy Matter 2/2

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