The High Court here was told that the RM6.5mil price tag on former Selangor Mentri Besar Datuk Seri Dr Mohd Khir Toyo’s property was unreasonable.
Property valuer Iramy Ahmad, 48, testified that the figure was “too high” for the two plots of land and a bungalow.
The witness, who was examined by defence lawyer Datuk Jahaberdeen Mohamed Yunoos, said his firm Irhamy & Co had used the comparison method in evaluating the properties in 2005 and came up with a RM4.3mil figure.
He said he had visited the house just after its completion and that the bungalow was already occupied at that time.
Iramy is the fourth defence witness testifying in the trial of 45-year-old Dr Khir, who is charged with knowingly purchasing two pieces of land and a bungalow in Section 7 here at a much lower price than its actual value from Ditamas Sdn Bhd director Shamsuddin Hayroni in 2007.
The property was bought at RM3.5mil although Ditamas had bought it for RM6.5mil on Dec 23, 2004.
Dr Khir had allegedly committed the offence at the Selangor Mentri Besar’s official residence on May 29, 2007.
Cross-examined by Deputy Public Prosecutor Mohd Dusuki Mokhtar, Iramy agreed that similar properties must be used as variables when evaluating using the comparison method.
Mohd Dusuki: But there is no definition of “similar properties”?
Iramy: Agreed.
Mohd Dusuki: But logically, similar properties would be something “as close as possible” (to Dr Khir’s properties) in terms of locality and the property itself?
Iramy: Yes.
The witness disagreed when it was suggested that the comparables used in his valuation was not “as close as possible”.
Iramy added that there were instances where valuers used their own judgment to determine market value as the Valuation and Property Services Department used to be late in relaying data to use as comparables.
“Back then, if the data was meant for December, it would only be processed five months later. This is where you need to use your own judgment for market value. But now, the process is much faster,” he said.
The hearing continues today.
Source : The Star
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