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

Laporan lengkap Tragedi 13 Mei oleh MAGERAN

Laporan lengkap Tragedi 13 Mei oleh MAGERAN Portal Malaysiakini telah menerbitkan artikel mengenai peristiwa 13 Mei dari sumber, dan beberapa wawancara. Ada beberapa perkara penting yang tidak disebutkan dalam artikel tersebut, yang kami rasakan perlu dibaca oleh setiap warga. Untuk makluman pembaca, perkara penting tersebut diceritakan dengan terperinci dalam Laporan Tragedi 13 Mei yang disediakan oleh Tun Abdul Razak, Pengarah Majlis Gerakan Negara (Mageran) ketika itu. Berikut merupakan kata-kata pendahuluan oleh beliau dalam laporan tersebut: Laporan penuh ada di bahagian bawah Oleh : Tun Abdul Razak Hari 13 Mei 1969 akan tercatit di dalam sejarah kita sebagai hari tragedi nasional. Pada hari itu asas perdirian Negara kita telah menerima paluan yang sehebat-hebatnya pernah dialami dengan meletusnya rusuhan antara kaum. Mujur lah Kerajaan telah mengambil tindakan yang segera dan tegas, dibantu dengan setianya oleh pihak Tentera dan Polis, maka dapatlah pihak berkuasa mengawal k

Police Call Up Sarawak Chinese Activist Members For Not Standing For National Anthem

Police Call Up Sarawak Chinese Activist Members For Not Standing For National Anthem Sarawak for Sarawakians (S4S) official spokesman Shaow Tung Leong (The Star) – Police have called up seven members of the Sarawak for Sarawakians (S4S) activist group who did not stand up for the national anthem, as seen in a video clip which has gone viral on social media. State deputy commissioner of police DCP Datuk Dev Kumar said a police report on the incident was lodged on Monday (Sept 30). “Based on the report, we have commenced investigations under Section 8(3) of the National Anthem Act 1968,” he said. Under Section 8, anyone who knowingly shows disrespect to the national anthem in a public place can be fined up to RM100 or jailed not more than one month. S4S spokesman Shaow Tung Leong, who was among those called up by police over the incident, said their action was a “silent protest” against the Federal Government’s “unfair” treatment of Sarawak. “We did not stand up because we feel d

VK Lingam dalam video 'Perlantikan Hakim'

VK Lingam persoal kesahihan video ‘lantik hakim’ Tan Sri VK Lingam mempersoalkan kesahihan klip video yang dikemukakan sebagai bukti dalam perbicaraan Lembaga Tatatertib Peguam-Peguam yang mengeluarkan namanya daripada menjalankan amalan guaman atas dakwaan salah laku. Ini disampaikan kepada Mahkamah Tinggi Kuala Lumpur hari ini oleh peguamnya, R Thayalan. Kesahihan klip video itu dipersoalkan memandangkan rakaman asal tidak dikemukakan semasa perbicaraan lembaga tatatertib dan individu yang merakamkannya, bekas Ahli Parlimen PKR, Loh Gwo Burne, mengakui bahawa CD yang ditawarkan semasa perbicraaan lembaga itu bukanlah miliknya. "Pembuat CD yang dimuat turun dari laman web Malaysiakinitidak dipanggil, transkrip juga tidak dikemukakan semasa perbicaraan lembaga tatatertib. "Kami juga menghantar CD itu untuk diuji oleh pakar kami dan mereka mendapati ada fail lain pada CD itu. "Lembaga itu bergantung pada kandungan klip berkenaan dan kami mengatakan terdapat

Overhaul Kepimpinan Umno

Search This Blog