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Govt to acquire Lok Ann Hotel for MRT Project

 

MRT-COMPENSATION
GOVT TO ACQUIRE LOK ANN HOTEL FOR MRT PROJECT
KUALA LUMPUR, June 13 (Bernama) -- The government will acquire Lok Ann Hotel
because its owner, Chip Ann Realty Sdn Bhd (CAR), has rejected the quantum of
compensation Mass Rapid Transit Corp Sdn Bhd (MRT Corp) has offered.
In a statement today, MRT Corp chief executive officer, Datuk Azhar Abdul
Hamid, said he could not understand why CAR rejected the compensation offered,
which was arrived at on the same basis offered to the other land owners.
Azhar said the owners of seven properties had signed the Mutual Agreement
(MA), including Yan Keng Benevolent Dramatic Association, who had originally
opposed the MA.
He said the compensation and other terms of the MA were fair and equitable.
A total of 23 properties along Jalan Sultan are located above the tunnel
which will be built for the MRT Sungai Buloh–Kajang Line.
The properties were originally to be compulsorily acquired under the Land
Acquisition Act 1960.
However, MRT Corp proposed to avert the acquisition of land through MA.
Under the agreement, the owners will continue to own their properties while
allowing the MRT tunnel to be built underneath.
To date, the owners of seven properties have signed the MA while two of the
properties have been acquired without opposition from their owners.
The remaining owners, with the exception of CAR, are currently finalising
terms of the MA.
By July 2017, the proximity of the buildings to the MRT station could
potentially be a windfall for businesses in the area.
"I do not see why CAR thinks they are different from the others and that
they should be given preferential treatment," said Azhar.
Based on the same valuation basis that was formulated by an independent
valuer, the owners negotiating the MA have been offered between RM100,000 and
RM800,000 depending on the value of the properties.
CAR was offered RM680,000.
"I cannot justify paying them the millions that they are demanding for.
Maybe the compensation from the acquisition of their land will match the sum
that they are demanding for," he said.
Azhar said CAR had always refused to negotiate with MRT Corp on the MA,
which if signed, would enable MRT Corp to apply to the government to stop the
land acquisition process and construct the MRT tunnel beneath the properties.
He said it was never MRT Corp’s intention for the properties at Jalan Sultan
to be acquired, as it only needed a a portion of the underground land beneath
the buildings for the MRT tunnel.
"What will the government do with the properties if they had been acquired?
This is why we proposed the MA back in 2011.
"Since then, we have continually engaged with owners of the affected land in
Jalan Sultan and they have been receptive of this approach," said Azhar.
Azhar said MRT Corp has put in a lot of effort in trying to convince the
property owners of Jalan Sultan about its intentions, holding engagements with
various groups explaining the nature of the works being undertaken at the area.
"We can now move forward with appointing contractors to carry out
strengthening works to the buildings.
"Not only will the owners continue to own their properties, their buildings
will end up being stronger than they are now. The buildings will be safe and
well protected," he said. -- BERNAMA
SRH SRH THs

 

KUALA LUMPUR: The government will acquire Lok Ann Hotel because its owner, Chip Ann Realty Sdn Bhd (CAR), has rejected the quantum of compensation Mass Rapid Transit Corp Sdn Bhd (MRT Corp) has offered.

In a statement today, MRT Corp chief executive officer, Datuk Azhar Abdul Hamid, said he could not understand why CAR rejected the compensation offered, which was arrived at on the same basis offered to the other land owners.

Azhar said the owners of seven properties had signed the Mutual Agreement (MA), including Yan Keng Benevolent Dramatic Association, who had originally opposed the MA.

He said the compensation and other terms of the MA were fair and equitable. A total of 23 properties along Jalan Sultan are located above the tunnel which will be built for the MRT Sungai Buloh–Kajang Line. The properties were originally to be compulsorily acquired under the Land Acquisition Act 1960.

However, MRT Corp proposed to avert the acquisition of land through MA. Under the agreement, the owners will continue to own their properties while allowing the MRT tunnel to be built underneath. To date, the owners of seven properties have signed the MA while two of the properties have been acquired without opposition from their owners. The remaining owners, with the exception of CAR, are currently finalising terms of the MA.

By July 2017, the proximity of the buildings to the MRT station could potentially be a windfall for businesses in the area.

"I do not see why CAR thinks they are different from the others and that they should be given preferential treatment," said Azhar.

Based on the same valuation basis that was formulated by an independent valuer, the owners negotiating the MA have been offered between RM100,000 and RM800,000 depending on the value of the properties. CAR was offered RM680,000.

"I cannot justify paying them the millions that they are demanding for. Maybe the compensation from the acquisition of their land will match the sum that they are demanding for," he said.

Azhar said CAR had always refused to negotiate with MRT Corp on the MA,which if signed, would enable MRT Corp to apply to the government to stop the land acquisition process and construct the MRT tunnel beneath the properties.

He said it was never MRT Corp’s intention for the properties at Jalan Sultan to be acquired, as it only needed a a portion of the underground land beneath the buildings for the MRT tunnel.

"What will the government do with the properties if they had been acquired? This is why we proposed the MA back in 2011. Since then, we have continually engaged with owners of the affected land in Jalan Sultan and they have been receptive of this approach," said Azhar.

Azhar said MRT Corp has put in a lot of effort in trying to convince the property owners of Jalan Sultan about its intentions, holding engagements with various groups explaining the nature of the works being undertaken at the area.

"We can now move forward with appointing contractors to carry out strengthening works to the buildings.

"Not only will the owners continue to own their properties, their buildings will end up being stronger than they are now. The buildings will be safe and well protected," he said. - Bernama

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