00:01Johor regent Tungku Ismail Sultan Ibrahim has dismissed a Bloomberg report claiming a tax bill of more than 2 billion
00:09Singapore dollars is hindering his planned Singapore land sale.
00:14The Tangku Makota of Johor, also known as TMJ, said he was willing to pay the amount, calling it normal
00:20and saying there were no complications.
00:22He also joked on X that the amount should be doubled.
00:26Bloomberg had reported that the 16.6 hectare sale would incur a land betterment charge of over 2 billion Singapore
00:34dollars, which it said was slowing negotiations with potential buyers.
00:39The charge applies when Singapore approvals raise a property's value. The proceeds are meant to return part of that development
00:47gain to the local community.
00:49The land reportedly includes a plot Tungku Ismail obtained through a land swap with the Singapore government in 2025.
00:58In March, Singapore's Urban Redevelopment Authority said Tungku Ismail had applied to develop homes on the site, including low-rise
01:06housing and good-class bungalows.
01:09Property analyst Nicholas Mark estimated the land could be worth between 3.8 billion Singapore dollars and 4.7 billion
01:17Singapore dollars once rezoned for residential use.
01:22Roman Dawi Gapari, FMT.
01:24Roman Dawi Gapari, FMT
