On 24 February 2006, Prime Minister Pak Lah was in Penang to witness the signing ceremony for the sale of the 21-storey Menara UMNO building in Macalister Road.
Menara UMNO, built in 1998 for RM 38 million was sold to JKP Sdn Bhd for RM18 million. By the way, JKP is a GLC owned by the Ministry of Finance Incorporated.
The news report revealed several important facts unknown outside the UMNO circle.
First, the Menara UMNOs’ land owner is the State Islamic Religions Council and the land was leased to Amanah Capital Properties Sdn Bhd which put up the majestic-looking building.
The question is why the Menara UMNO was allowed to build on wakaf or baitumal land managed by the council.
Another question is if the building is owned by Amanah Capital, then why name it Menara UMNO?
A search with the Companies Commission of show that Amanah Capital has debts of RM 40 million at the end of the year 2003.
Did Pak Lah, as Minister of Finance direct JKP Sdn.Bhd to bail out Menara UMNO Penang. By the way Pak Lah is also Penang UMNO Chief.
We have a “cute” situation here: Pak Lah, the Finance Ministers’ JKP Sdn Bhd bailing out Pak Lah’s Menara UMNO Pulau Pinang.
Pak Lah’s integrity is at stake and he must explain.
