Some Property prices do fall

Property prices always increase for normal people but for some VVIPs it does go down :o

Khir denies strong-arm tactic on Ditamas director
MalaysiakiniMalaysiakini 19 hours ago

Former Selangor menteri besar Dr Mohd Khir Toyo denied in court today that he had coerced a developer into buying a mansion, and then selling it to him at below the market value.

Testifying in his corruption trial, Khir told the Shah Alam High Court that he had never asked Ditamas director Shamsuddin Hayroni to buy a bungalow during a 2004 meeting, further disclaiming that any such meeting had taken place.

Khir is charged under Section 165 of the Penal Code with graft involving the purchase of the two plots of land and house from Shamsuddin.

The property was said to have been sold at ower than the market value, allegedly in exchange for considerations for Shamsuddin’s companies in contracts with the state government and state GLCs.

Khir was ordered to enter his defence on Aug 8, after the judge ruled that a prima facie case had been made against him.

Taking the stand before Justice Mokhtarudin Baki, Khir - wearing a dark-coloured suit - appeared composed and confident.

He said he had not been interested in the house when he first saw it, as he did not like the Italian design.

Asked why he agreed to buy the same house in 2007, he said the property was different from the house he had seen in 2004, in that the purchase involved an uncompleted residence rather than a finished house

“I agreed because the house (which was under heavy renovations) was not yet completed and so I could finish it according to my taste. I am of Javanese descent and I have always wanted to build a house with Javanese taste,” he explained.

Khir also denied knowing Shamsuddin personally, saying that the developer was simply one of many developers that he knew of as then MB.

He also said Shamsuddin or his companies had not received special treatment, dismissing the support letters he had written for the developer’s projects as merely standard practice of the Selangor government then.

“I wrote 10 to 15 support letters on a daily basis,” Khir testified.

He denied Shamsuddin’s allegation made in an MACC statement - that Khir had asked not to involve him when investigations began early this year.

Agreement on price

Throughout his testimony, Khir maintained that he had purchased the house located on lots 8 and 10 off Jalan Suasa in Section 7, Shah Alam, at market value and on a willing seller-willing buyer basis.

“The price was at market value, as obtained from the Rahim & Co valuation report, done by professional valuers… he (Shamsuddin, left ) agreed to it,” repeated Khir several times during the examination-in-chief by lead defence counsel M Athimulan.

As far as he knew, Khir said, Shamsuddin agreed with the RM3.5 million price at which the house and properties were valued, and never made it known if he disagreed with the price or that he had another valuation done which priced the mansion at a higher amount.

The hearing continues tomorrow.