PR, it's an underwater land, why buy?

Wow! Looks like PR is really buying worthless piece of land! The land they bought in Dengkil, Selangor, Lot 14002 surprisingly is a piece of mining pond land???

It's really ridiculous! Why buy a land that cannot be developed? Is PR trying to cloud the people's eyes and gain some money out from the transaction with Talam?

It is stated in the valuation report that the land is 95 percent appeared to be submerged land. Why does PR wants to buy a land that cannot be used?

Can someone please explain?

You guys would understand more once you see the documents.

See page 3. It is stated that "The subject of this valuation comprises the leasehold interest for a term of 99 years expiring on 19th October 2093 in a parcel of land comprising a mining pond (submerged) issues with a title designated for industrial use".

This is even worse, "At the date of our inspection, we noted that 95% of the site appeared to be submerged land i.e. mining pond covered by water whilst the remaining land is overgrown with shrubs and buses".