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(The Star) PETALING JAYA: Former Selangor mentri besar Dr Mohamad Khir Toyo said he purchased his controversial mansion for RM3.5mil from a company that was facing financial difficulties.

Dr Khir said he took a RM3mil HSBC loan and spent RM600,000 on renovations.

The RM3.5mil value of the sprawling but abandoned Section 7 bungalow in Shah Alam was derived at by accredited real estate property agents Rahim and Co, he said.

“YB Sekinchan (Ng Suee Lim) accused me of owning a RM24mil bungalow. I don’t deny that the bungalow belongs to me but I deny that it costs RM24mil,” he said in his blog yesterday.

Dr Khir also posted several photographs of the Rahim and Co. property valuation dated May 16, 2007, signed by its director Choy Yue Kwong, the sale and purchase agreement and the loan document from HSBC dated May 31.

He added that the RM3mil loan facility from HSBC was for a tenure of 23 years, not 30.

“Based on pictures and false accusations from YB Ng Suee Lim, many people have become real estate experts in the blink of an eye.

“Therefore, the property value (of RM24mil) was assumed without knowing the status of the land or the other conditions on the said land. I have also been accused of coming up with my own valuation,” said Dr Khir.

On Monday, Ng accused Dr Khir of spending RM2.9mil and RM900,000 each on two plots of land to build the bungalow, and questioned his ability to pay for them on a mentri besar’s salary.

Dr Khir retorted by challenging Ng to sell the property for the alleged RM24mil price tag and promised to “reward” Ng with 50% of the proceeds if he managed to do so.

Comments (23)

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written by justice, July 10, 2009 10:58:39

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written by ibabonma, July 10, 2009 11:01:30

I am staying at a two story linked house of average size (21 x 50) at the out-skirt of KL, in Selangor. Recently, a transaction was made where the renovated end-lot with an average area along my row of houses was sold at RM640, 000.00.

How come Toyol residence cost only RM 3.5 million?

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written by kent chong, July 10, 2009 11:05:23

Toyol, i offer RM7million to buy your palace....! Shit your Toyol, bullshit Rakyat !

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written by MyBUDAK, July 10, 2009 11:09:16

i dont mind paying TOYOL RM7.01 million...

when can we sign the agreement...

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written by uxzee, July 10, 2009 11:22:40

When Toyo or any UMNO/BN leaders try to defend their ernomous illegal wealth accumulation, their usual answer will be 1. they bought it cheap 2. they have their own business and their business is very successful. Yet when they purchased for the government they always purchased at very ridiculous inflated prices. When they ran business for the government the business always failed and has to be bailed out by the government.

This is also true for Mahathir, Pak Lah, Najib and the rest of UMNO / BN leaders. They seem to be successful in individual investments but failed miserably or purposely when it involved the rakyat's money.

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written by shamadz72, July 10, 2009 11:38:36

“Therefore, the property value (of RM24mil).. without knowing the status... and the other conditions...." said Dr Khir.

Dr Khir, we are also interested to know what is the other conditions ATTACHED by the seller to you for the 'too good to be true' deal. Care to tell us who is the Seller, so that we can also dig him any further

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written by asguard, July 10, 2009 11:46:27

A Big fat liar! No one will never trust his words!

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written by Ben Nordin, July 10, 2009 11:57:19

It would be interesting to see the valuation done by Rahim & Co. If they had valued the bungalow and land for RM3.5 Million, then the land value for the whole area would be in question. As far as I know bungalow land in Shah Alam would be anything between RM60 to RM80 per square foot. Then again I'm not a valuer.

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written by Wudan, July 10, 2009 12:05:26

Former Selangor mentri besar Dr Mohamad Khir Toyo said he purchased his controversial mansion for RM3.5mil from a company that was facing financial difficulties.
Dr Khir said he took a RM3mil HSBC loan and spent RM600,000 on renovations.
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What Khir Toyo bought for RM3.5 million on 29 May 2007 are ;

1)The first piece of land (empty) measuring 20,427 square feet held under ;

HS(D) 22905 P.T. No.65 Seksyen 7, Bandar Shah Alam District of Petaling, State of Selangor Darul Ehsan of leasehold land for a period of 99 years expiring on the 19 March, 2086 and measuring approximately 20,427 square feet and

2)The second piece of land measuring 31,794 square feet and erected thereon A DOUBLE STOREY DETACHED HOUSE with an ATTIC FLOOR held under;

HS(D) 22904 P.T. No.62 Seksyen 7, Bandar Shah Alam, District of Petaling, State of Selangor Darul Ehsan

Khir paid a deposit of RM500,000.00 and the balance sum of the purchase price was financed by a RM3 million loan from HSBC.

From a Double Storey Detached House with an attic floor to the final completed Balinese Palace, Khir claimed he did minor renovation and changed the roof tiles only for RM600,000.00

Guess which building is the original Double Storey Detached House?

Note: The HSBC offer letter stated that the purpose of the loan is to finance the completed property named above

Source : http://2.bp.********.com/_0dFH.../spa02.JPG

: http://3.bp.********.com/_0dFH...hsbc01.jpg

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written by Bigjoe99, July 10, 2009 12:16:53

He claimed he was making RM40K/month before 1992. I WANT TO SEE HIS TAX FILING FOR 1992 AND BEFORE!!! He is lying or he did not pay taxes. Either way, more ammunition to shoot this toyol..

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written by Mirage, July 10, 2009 12:18:53

Khir,

You are the bast***d of the highest order. Let me continue by saying that you have treated the Selangor ppl with little dignity and like fools. But NOW you should be belittle like the bloody fool you are.
First you are a disgrace to the medical fraternity in suggesting that a clean living of monthly RM56k as a dentist (that you claim) is not enough and you have to indulge in corruption and living of citizens money. You shame us Doctors.
Second, you are a disgrace to fellow muslims and malays for betraying your religion and race.
Thirdly, all the ppl which you are in cahoed with or have taken bribery or shared the with we know who they are. Are you ashame of claiming you innocence when so many ppl know what you did with land scams and monet taken under the table.
Fourth, even now as a commoner you are still bloody lying to the ppl. A hse or should I call it a ranch size property which you have claimed to buy at RM3.5 million which included the renovation already done.....????My bungalow at second hand and not even half your size is already RM2.2Million with NO renovation.

If Najib is sincere in wanting to win over more fence sitters, do him IN big time. Show us that you want justice and not just say that the MACC is independent.

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written by Mirage, July 10, 2009 12:27:00

And we know what happen to Zakaria. This are ill gotten wealth which should not have been.

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written by rocky, July 10, 2009 13:01:38

Khir looks like there is more to this based on what Wudan says. You trying to talk your way out of this but the hole is getting deeper. also you were practising dentistry without licence as it seems you just renewed your licence

you keep banging Ng for having only Std 6 education, basically you are trying to say he is stupid. well he may be stupid but still BN lost to him under your leadership. malu la. BTW we know at least he is not corrupt or seen to be corrupt. what is the point of degrees when one is seen as corrupt and racist

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written by alarcarte, July 10, 2009 13:39:57

You see! He bought at 3.5 Million from a company that is facing financial difficulty, may be part of the deal is for Toyo to help this company out of the financial difficulty by using his influence as a Menteri Besar to get some lucrative business deal.

Ai Yah, Nak buat bisness di Malaysia memang kena buat itu macam punya mah.

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written by smeagrooo, July 10, 2009 13:44:01

if i m in deep financial shit, i would still sell off my assets to the highest bidder and not to you for a mere rm3.5mil if the asset if deemed to be worth more than that. unless of cos I lost the house to you in a game of poker. To play poker u need to have a poker face but all i can see is a tempe face.

But i still look u no up. Zakaria's mansion is worth much more than yours and you once taught us that u need to fly 1st class / business class becos if u dont then all ur kuli / crony will have to take a sampan.

How come this guy is still walking around? Where the hell is MACC?

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written by NanoNano, July 10, 2009 13:54:22

Somebody have a look at the land title and check out for the names of previous registered owners and names of financiers who "tuntut hakmilik" the title to see whether he's telling the truth.

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written by denkoh, July 10, 2009 14:33:19

I propose, state government buy over from toyo at Rm3.5 million, give toyo 50 sen and turn the house to rumah kebajikan.

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written by mowadoha, July 10, 2009 14:37:10

The rich and the poor -- the difference is clear!

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written by mowadoha, July 10, 2009 15:31:11

Common sense for common people to judge. Just compare by looking at the pictures and the facts and figures ..... The difference is clear!

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written by Zapper, July 10, 2009 16:38:43

Hello Toyo, I am in the market to buy a mansion...I will offer you RM10.million. You will make a cool profit of RM5.9 million!! Then I will turn this mansion into a orphanage.

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written by miwaki, July 10, 2009 16:51:18

Actually Toyo didn't purchase the house,he got it through "lucky draw" when patronising one of the SPA in KL.That house is actually haunted so it doesn't worth that much.

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written by Vivarium, July 10, 2009 17:03:00

MACC, what are waiting for ? This is more than a cow-and-car affair.
If you are longing for adding a credential to your so-called KPI for your performance measurement, get your arse moving right now..

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written by Sabahfan, July 10, 2009 20:27:55

This is what happens when a foreigner becomes the ruler in our country...

This toyols taste for greed, corruption and wealth is no different from the long list of Indons President from SUKARNO to SUHARTO....

they live in big palaces, sucking the blood of their own people, while all the indons have to come to malaysia to work as lowly paid labourers and maids.

and when these guys return home with their ringgit earnings, they get taxed again by the already rich leaders....

so now this TOYOL has spread the desease to Malaysia..

BOMB his palace and sent toyol back to indun..

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