Other than the RM130 million payment to Awan Megah Sdn Bhd, owned by Selangor Wanita Umno chief Raja Ropiaah Raja Abdullah, Boustead Holdings Bhd has more goodies for the company that it did not reveal to Bursa Malaysia, PKR says.

“This is durian runtuh (a windfall) for Raja Ropiaah... After reading this I wish I was her,” PKR director of strategy Rafizi Ramli said today.

NONESpeaking at a press conference at party headquarters in Petaling Jaya, Rafizi (left) revealed that he found this out after given access to two agreements, one a land development deal between Raja Ropiaah’s Awan Megah, Boustead’s wholly-owned subsidiary Bakti Wira Sdn Bhd and Astacanggih Sdn Bhd, which is owned by controversial carpet trader Deepak Jaikishan; and the second, an agreement to buy out Astacanggih from Deepak.

Rafizi went through the documents at the Boustead headquarters in Kuala Lumpur this morning, in his capacity as a minority shareholder.

The extra perks accorded to Awan Megah in the agreements described by Rafizi are:
  • An RM15 million contract given to Awan Megah by the Defence Ministry last June, despite its seven-year failure to deliver the construction of the National Defence Institute or Puspahanas.
  • Awan Megah will retain 23.2 acres of land in Shah Alam that is worth millions of ringgit.
  • Boustead advanced RM4 million to Raja Ropiaah to buy a 20 percent stake in Astacanggih.
  • The agreement specifies that Bakti Wira will undertake to pay all debts incurred by Awan Megah to GuppyUnip Sdn Bhd, so that GuppyUnip will agree to terminate its joint-venture agreement with Awan Megah.
All these additional perks, Rafizi said, are being given freely to the company owned by the Selangor Wanita Umno chief, as if they are a windfall.
Asked if the documents specify any reciprocation of like value on Awan Megah’s behalf, Rafizi said that he does not see that in the documentation, adding further that unlike most standard contract involving land transfers, it was strange that this deal does not require neither Awan Megah nor Astacanggih to ensure the over 200 acres of land be transferred to Bakti Wira which is footing the bill for all of the payments in the deal.
Rafizi added that he will be bringing his findings, which covered over 12 pages of notes he took down while perusing the contracts, to the PKR political bureau meeting this evening to consult with the party leadership and representatives from the Pakatan-controlled Selangor government and decide what to follow up on.

Confident he can mount legal challenge

Labelling his findings “juicy” and “scandalous” Rafizi said that he is confident he can mount a legal challenge to declare the contract null and void as the current situation around the deal may have violated conditions set in the contract.

He said some of these included areas under the purview of the Selangor government pertaining to land status and transfer of ownership.

is attempting to reach Boustead for its comments.
The tripartite land deal first took the limelight when Deepak became miffed with Raja Ropiaah for allegedly “cheating” him and came to the media to start his one-man crusade against the Selangor Wanita Umno chief and the family of Prime Minister Mohd Najib Abdul Razak, whom he has linked to various allegedly corrupt deals and a cover up linked to the deal of Mongolian national Altantuya Shaariibuu.

The deal began to catch criticisms from another front after it was alleged by PKR that funds from contributions of veterans and serving military servicemen are being used by Boustead to bail out and give a windfall to Raja Ropiaah and pay off Deepak.

Boustead is 60 percent owned by military servicemen’s fund LTAT, hence the link that lead to the allegations.