Saturday, April 1, 2017

Sultan of Johor's assertions about Forest City adds to confusion about status of strata tiles, confirms LKY's warning that investment in Iskandar is risky business

Johor's Sultan Ibrahim Iskandar has likened Johoreans who
believe "lies" peddled on the Forest City development in
Pasir Gudang, to individuals who committed treason.

by Ganesh Sahathevan

In 2013 the late Lee Kuan Yew of Singapore warned:

"This is an economic field of co-operation in which, you must remember, we are putting investments on Malaysian soil," Lee said. "And at the stroke of a pen they can take it over."

That warning is hard to dismiss , especially now when the Sultan Of Johor himself ,technically the sovereign in perpetuity of all of Johor, makes statements such as this:

“The freehold is actually the strata, not for the land. The company owns the freehold land, not the buyers,” he said.

And that after Sekijang MP Anuar Manap said this:
"Yes it is a freehold title but it's not for the land, but for the strata. Not an inch of of Johor land is given out as freehold in this case,"

And the developer Forest City said this:

Asset Protection
freehold property for generations
commonwealth legal system, property rights with high level of privacy protection
no economic environment constraints, preserve the value of the asset.


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