What is the arrangement between the Turf Club and Abad Naluri?
As part of the sales consideration of RM488 million, Abad Naluri will build a new racecourse on their land in Batu Kawan purportedly valued at more than RM300 million. This was acquired from the Penang Development Corporation (PDC). When that is ready, the Batu Gantong land will be handed over to Abad Naluri and Abad Naluri has to pay the balance of the sales price. In addition Turf Club members have reportedly been compensated with RM20,000 each.
