Prime Minister Tun Dr Mahathir Mohamad has hit out at foreigners buying apartments at the vast development, which is threatening to add to a glut of new residential property in southern Malaysia.
Malaysians are unlikely to buy or stay there due to high prices and its relatively remote location, while foreigners do not automatically get long-stay visas by buying a property.
'Built for foreigners'
With the shock defeat of Najib's government in May and the election of Dr Mahathir, who has long railed against the explosion of Chinese investment in Malaysia, speculation has intensified that Forest City could become a white elephant.
Dr Mahathir, 93, has already shelved US$22 billion of Chinese-financed projects struck under the former government during a visit last month to Beijing following criticism the deals were unfavourable to Malaysia, and now he has trained his sights on Forest City.
Last week, he made some of his strongest comments yet on the development, saying he objected to the project because it was “built for foreigners, not built for Malaysians. Most Malaysians are unable to buy those flats.”
He added that Forest City “cannot be sold to foreigners... We are not going to give visas for people to come and live here.”
His nationalist rhetoric was not in line with Malaysia's laws ― it is legal for foreigners to buy houses and apartments in Malaysia ― and his office later clarified that he only meant purchasing property does not automatically guarantee residency for a foreigner.
But observers said Dr Mahathir was intending to undermine a project he has long detested. A subsequent announcement that the government was establishing a committee to review the terms agreed on to set up the development and foreign ownership there only added to the sense authorities may be trying to put a halt to it.
Malaysians are unlikely to buy or stay there due to high prices and its relatively remote location, while foreigners do not automatically get long-stay visas by buying a property.
'Built for foreigners'
With the shock defeat of Najib's government in May and the election of Dr Mahathir, who has long railed against the explosion of Chinese investment in Malaysia, speculation has intensified that Forest City could become a white elephant.
Dr Mahathir, 93, has already shelved US$22 billion of Chinese-financed projects struck under the former government during a visit last month to Beijing following criticism the deals were unfavourable to Malaysia, and now he has trained his sights on Forest City.
Last week, he made some of his strongest comments yet on the development, saying he objected to the project because it was “built for foreigners, not built for Malaysians. Most Malaysians are unable to buy those flats.”
He added that Forest City “cannot be sold to foreigners... We are not going to give visas for people to come and live here.”
His nationalist rhetoric was not in line with Malaysia's laws ― it is legal for foreigners to buy houses and apartments in Malaysia ― and his office later clarified that he only meant purchasing property does not automatically guarantee residency for a foreigner.
But observers said Dr Mahathir was intending to undermine a project he has long detested. A subsequent announcement that the government was establishing a committee to review the terms agreed on to set up the development and foreign ownership there only added to the sense authorities may be trying to put a halt to it.
Mahathir is just being true to his inner feelings, the feeling of being against Chinese and their projects, though domestically he has either reduced that feeling or managed to suppress & hide it in order to gain support to further his political agenda.
His pro Japanese feelings either have being the result of his anti-Chinese feelings or have added to his anti Chinese emotions, a long-time known hatred.
A man known for his unforgiving-ness and with a strong streak for vengeance, he attacks those he dislikes unrelentingly. The three he most hates are (originally was Tunku but that was comparatively insignificant to what he now is against) (a) Anwar Ibrahim (for treachery to him), (b) KJ (vicariously at AAB because of offence to his son) and of course (c) Najib (like for Anwar, because of treachery).
At times he channels his pent up vitriol towards surrogate targets, like China (because of Najib and because of his innate dislike for Chinese Malaysians). His recent visit to China didn't help him in his already anti China feelings, au contraire might have even worsened them.
He now wants to destroy Forest City, it being a detestable symbol of China and its citizens.
But at the same time in doing so he harms the interests of local Malaysians with vested interest in Forest City. But he is like a wounded leopard, extremely dangerous and madden with rage to lash out and kill. He no longer cares nor can forgive ever.
This is a private sector project. It involves the reclamation of 4,011 acres of swamp and heavily polluted shorelines. Just like Melaka Gateway, it should be a good project. The Johore state government has only a small equity in this project. Who holds the majority interest? Who gets stoned?
ReplyDeleteTDM has already backtracked on Forest City after being “corrected” by his own Bersatu Johor MB. Checked and Balanced.
ReplyDeleteFingers crossed if AI is back in Parliament by October there will be a clear alternative to TDM. But the real question to me is who will be next after AI? Kak Wan?
Ho Ho, that would be a world’s first. Husband and wife PM and DPM.
Mahathir hated Forest City because he hated the fact that he didn't thought this concept some 30 years ago when Japan was flushed with money and had significant growth rates. Now he returns back to Japan, to find that they are mired in debts and their economy and industry became -effectively- a closed loop cycle.
ReplyDeleteWith their historic debt levels, they no longer has the stomach to invest overseas (private nor public), so he can back saddened, angry, spiteful, full of rage & vindictiveness, because they rebuffed his offer for them to buy into Forest City.
In reality, the daily hate is emanating from Cha Bor...
ReplyDelete750,000 is equivalent to the entire population of Penang Island. Forest City would have 80% of that in China nationals in their gated enclave.
Anybody who doesn't understand this is going to be a major socio-political issue is either burying their head in the sand or simply out to Hentam Pakatan Harapan for their own agenda.
If it makes Kaytee happy, I don't think TDM and Muhyideen are in good health and may not even last their full term.
ReplyDeleteTDM can hardly walk in Brunei and his thought process is already flailing and not coherent. He should just stay put in Putrajaya and not travel too much.
I think a lot of observers notice these things but are not saying it.
PH Govt. should start preparing a succession plan already and not wait for something to happen then to react.
Otherwise, Malaysia may end up with a first woman PM with luck smiling at The Lady with the Iron Fan. Wakakakakaka.
That means cheebye motherfucker kaytee will drop dead once wan azizah becomes pm
DeleteWhere the fuck are my firecrackers?
karn neen nare lei, how many times do I have to tell you I did NOT fCk your mum
Delete