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Zahid says bought bungalows at discount as owner urgently needed money

admin2023-01-2012

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Bagan Datuk MP Ahmad Zahid Hamidi says ounder and chairman of Country Heights Holdings Berhad Lee Kim Yew was having trouble paying income tax, and so needed to sell two Country Heights bungalows quickly and at a discount to him. – The Malaysian Insight file pic, July 7, 2022.

AHMAD Zahid Hamidi told the High Court today that two bungalow units in Country Heights, Kajang, were bought at a discount of RM5.9 million because the owner, housing development tycoon Lee Kim Yew, urgently needed money. 

Zahid, 69, said that Lee, who is the founder and chairman of Country Heights Holdings Bhd, offered to sell the bungalow below the market price because he was having trouble paying his income tax.

“This offer (price) is from Tan Sri Lee Kim Yew, the owner of Country Heights. He desperately needed the money, which was why he sold it below market price. 

“He was having trouble paying income tax, that’s why the time given to us was very short and a discounted price was given to Yayasan Akalbudi (YAB),” he said. 

He said this when referred by deputy public prosecutor Harris Ong Mohd Jeffery Ong, to the ledger of YAB’s trustee, Messrs Lewis & Co, which recorded that the law firm deposited RM2 million into a fixed deposit account on November 30, 2016, and RM5 million on December 9 in the same year. 

According to Zahid, Lewis & Co did not wait for the fixed savings account to reach maturity, of either six months or a year, before withdrawing RM5.9 million, because Lee gave a short period of time to make a decision on the purchase of the bungalows. 

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Zahid, who is also Bagan Datuk MP, did not agree with Harris Ong’s suggestion that the purchase of the bungalows was not on a charity basis, but only to help the owner. 

Previously, Lee, who is the 57th prosecution witness, told the court that Zahid’s younger brother Mohamad Nasaee Ahmad Tarmizi bought the two bungalows through a Lewis & Co cheque. 

According to Lee, the cheque was for the payment of sales settlement for two single-storey bungalows belonging to his company, which were sold to Yayasan Al-Falah, of which Nasaee is the chairman of the foundation’s board of trustees.

Meanwhile, lawyer Hisyam Teh Poh Teik, who represented Zahid, told the court that the prosecution and defence had agreed to visit the two bungalows on August 1, as acceded by judge Collin Lawrence Sequerah yesterday. 

“I also invited Your Honour to Bagan Datuk to visit the Tuminah Hamidi Mosque, to give a clear picture of the condition of the mosque,” said Hisyam. 

Sequerah later said that the condition of the mosque can be shown in court through photos or videos because the journey to Bagan Datuk would take time. 

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