Mesti Goddes Of Mercy Kagum Dengan Kemurahan Miss Phang

Just now, the Penang BN went to lodge a police report to submit documents to allege that Miss Phang Li Koon actually took a housing loan to buy the Banglo in Oct 2008.

They allege that her housing installment is about RM11k but she had kindly rented out her renovated banglo for RM5k to LGE during that period.

GODDES OF MERCY IN PENANG

However, Penang BN did not say how much was the loan, what interest rate and for how long - thus we have to make some assumptions based on the RM11k per month installment.

Miss Phang bought the banglo in Oct 2008 and sold in July 2015 - about 6 years and 10 months 

Based on a conservative interest rate of 4% and assuming a 20 year loan of RM2m out of the RM2.5m purchase price (which would give installment of about RM12k, her interest costs ALONE for the 6 years and 10 months would be about RM480,000.

And this is excluding legal/stamp costs, furnishing costs, renovation costs (this was admitted by her in her SD).

If the loan does indeed exist as alleged by Penang BN, then there is no doubt that Miss Phang has lost money on the house when she sold it for RM2.8m to Lim Guan Eng - since interest costs alone comes out to RM480,000 for that almost 7 years period.

Same also with Khir Toyo case where the seller actually lost money when selling their property on a similar "willing buyer, willing seller basis".

What a kind person this Miss Phang is!

If Penang BN is wrong about this loan then they will be in trouble for lodging a false police report but I am sure they have proof.