Dr Ling also told the court that he could not understand JPPH’s valuation of the land, saying it was very “confusing” to him
Tun Dr Ling Liong Sik admitted during his cheating trial today that he does not understand the purpose behind the issuance of bonds to finance a property purchase.
Dr Ling, who served as Malaysia’s transport minister for 17 years until 2003, told the High Court that while he has heard of bonds, his knowledge on the matter is limited to what he reads in stock market reports.
“That’s all I know,” he said to a question from lead prosecutor Datuk Tun Majid Tun Hamzah during cross-examination this afternoon.
“What about bonds for purchasing property? Or bonds to finance a purchase?” Tun Majid asked.
Shrugging, Dr Ling said, “No.”
“So you have never heard about people raising bonds to finance a purchase?” Tun Majid continued.
“No. They may be doing it but I don’t know how to do it and I don’t understand its purpose,” Dr Ling replied.
