Skip to main content

Malaysia Revives RM140 Billion Transport Hub Started By 1MDB

(Bloomberg) – Malaysia is reviving a property and transport hub worth 140 billion ringgit started by troubled state fund 1MDB, adding to the list of projects the government is resuming.
The cabinet agreed to reinstate the Bandar Malaysia project in an April 17 meeting, Prime Minister Mahathir Mohamad said. The project will be developed with its original partners, Iskandar Waterfront Holdings Sdn. and China Railway Engineering Corp, which own a 60 percent stake in the joint venture with the rest owned by the government, he said.
The country has brought back large state projects after embarking on budget-reduction measures last year. Earlier this month, Malaysia struck a deal with China to resume the East Coast Rail Link at a lower cost, with the government seeking to further reduce the price tag, Mahathir said.
Bandar Malaysia, conceived under 1MDB, was announced in 2011 by former leader Najib Razak, who now faces multiple charges linked to the scandal-ridden state fund. It was set to become a transport hub for the now-suspended high-speed rail connecting Singapore to Kuala Lumpur, as well as the Malaysian capital’s commuter lines and major highways. As 1MDB’s finances worsened in 2015, the state fund signed a deal to sell 60 percent of the project to China Railway and Iskandar Waterfront.
The revived project will include 10,000 affordable home units and prioritise local content in the construction process, Mahathir said. China Railway and Iskandar Waterfront must make a 500 million-ringgit payment within 60 days of the project’s reinstatement, he said.

Comments

Post a Comment

Popular posts from this blog

Tinggalkan DAP

Tinggalkan DAP Memang tak sangka, bila dengar berita ni. Ong Kian Ming ni dah 14 tahun dalam DAP, lama sangat tu, tiba-tiba keluar mesti ada sebab berat. Dari apa yang dia cakap, isu utama dia tak puas hati keputusan parti kekal dalam kabinet. Dia rasa DAP patut keluar dulu, tekan kerajaan buat perubahan yang dijanjikan, tapi parti pilih untuk terus kekal. Bila prinsip sendiri tak sama dengan hala tuju parti, memang susah nak terus tinggal. Dia pun kata tak masuk parti lain, tak nak bertanding juga. Nampak macam bukan sebab nak lari ke tempat lain, tapi betul-betul rasa tak sehaluan dah. Bila orang yang dah lama dalam parti pun buat keputusan macam ni, mesti ada benda yang tak kena di dalam. Entah-entah ini cuma permulaan saja, belum tahu siapa lagi akan ikut jejak langkah dia selepas ni.
Post a Comment
Read more

Pilih semula BN kalau kami gagal kata Saddiq

KUALA LUMPUR: Ketua Pemuda Parti Pribumi Bersatu Malaysia (PPBM), Syed Saddiq Syed Abdul Rahman menegaskan Pakatan Harapan (PH) sanggup dibuang seandainya PH gagal memenuhi manifesto mereka selepas dipilih sebagai kerajaan dalam Pilihan Raya Umum ke-14 (PRU14). “Kalau Tun Dr Mahathir Mohamad, Datuk Seri Anwar Ibrahim, Tan Sri Muhyiddin Yassin, Rafizi Ramli, Datuk Seri Mohamed Azmin Ali termasuk saya gagal menunaikan janji, buanglah kami dan pilihlah BN,” kata Syed Saddiq ketika sesi acara 'Sinar Debat bersama Exco Pemuda UMNO'. Syed Saddiq berkongsi pentas dengan Exco Pemuda UMNO, Rahman Hussin dalam forum anjuran Sinar Harian diadakan di ibu pejabatnya di Shah Alam, Selangor pada Isnin. Menurut Syed Saddiq, PH perlu diberi peluang demi masa depan yang baharu. Ujar beliau, rakyat berkuasa untuk membawa perubahan kerana walaupun negara ditadbir oleh BN lebih 60 tahun, parti itu adalah tidak sama seperti dahulu. Menurutnya, PH juga akan membebaskan media dan mana-mana kerajaan ti...
Post a Comment
Read more

Harga RON97, RON95 dan diesel tanpa subsidi naik 25 sen

Harga runcit petrol RON97, RON95 dan diesel tanpa subsidi masing-masing naik 25 sen bagi tempoh 10 September hingga 16 September ini. Kementerian Kewangan (MOF) berkata, harga RON97 ditetapkan pada RM4.50 seliter berbanding RM4.25 sebelum ini, RON95 tanpa subsidi pada harga RM4.02 seliter berbanding RM3.77 dan diesel tanpa subsidi pula ditetapkan pada RM4.92 seliter berbanding RM4.67. Pada masa sama, harga petroleum bersubsidi kekal pada RM1.99 seliter bagi RON95 mengikut BUDI Madani RON95 (BUDI95), manakala RM2.10 seliter bagi diesel berdasarkan program BUDI Madani Diesel (BUDI Diesel). Harga bagi Sistem Kawalan Petrol Bersubsidi (SKPS) dan Sistem Kawalan Diesel Bersubsidi (SKDS) pula masing-masing kekal pada RM2.05 dan RM2.15 seliter.
Post a Comment
Read more