KUALA LUMPUR — Johor Regent Tunku Ismail Sultan Ibrahim has coolly dismissed online speculation over a potential multibillion-dollar tax liability linked to the proposed sale of his prime land in Singapore, declaring he is “more than happy” to pay taxes in both jurisdictions.
Responding directly on X to a user who sarcastically claimed Malaysians bypass local taxes while paying abroad, the Johor Regent set the record straight while making light of the massive financial figures being bandied about.
“As a regular taxpayer, this is normal. No complication and more than happy to contribute to both countries. Should make it double,” Tunku Ismail posted, signing off with his signature hashtag “#thegameisrigged”—a phrase he frequently deploys when taking jabs at football-related controversies.
The multi-billion-dollar property saga
The online chatter erupted following a Bloomberg report regarding the proposed sale of a massive 16.6-hectare site owned by Tunku Ismail in Singapore’s prestigious Tyersall Park area.
Central to the speculation is a potential Land Betterment Charge—a levy imposed by the Singapore government when planning permissions significantly boost a property’s value.
The Staggering Tax Levy: Property analysts in Singapore estimate the land betterment charge alone could surpass a staggering S$2 billion (RM6.35 billion).
The Negotiation Sticking Point: Citing unnamed sources, Bloomberg reported that Tunku Ismail wants any prospective buyer to absorb the colossal tax bill rather than footing it himself.
The Development Plan: Singapore’s Urban Redevelopment Authority (URA) confirmed an application was submitted to rezone the land for luxury “Good Class Bungalows” and low-rise residential housing.
The high-value plot includes land acquired through a strategic swap with the Singaporean government in June last year, where Tunku Ismail exchanged 13 hectares at Holland Road near the Unesco-listed Singapore Botanic Gardens for 8.5 hectares of state land—a move designed to push future developments further away from the heritage site.
While representatives for the Johor Regent initially declined to comment on the Bloomberg report and Singapore authorities refused to speculate on private transactions, Tunku Ismail’s candid social media response has effectively shut down claims that the tax levy poses any complication to his plans. – September 4, 2026