PUTRAJAYA: Finance Minister Lim Guan Eng today rubbished claims that the Bandar Malaysia project has been revived without any changes to the terms.
Lim said the renegotiation of the project’s terms had allowed Malaysia to secure RM4 billion worth of benefits.
He described claims by irresponsible quarters that the project would resume under the same terms as “baseless”.
“The wild allegations were made to confuse the people and divert attention from the success of improving the contract terms and securing benefits worth RM4 billion for the country,” he said in a statement.
Lim said the new agreement, signed yesterday, included changes such as 10,000 affordable home units from the original 5,000 units; purchasing price terms to be paid within three years instead of seven, and the parks and recreational space now being 34.4ha instead of the original 19.7ha.
Other improved terms, he said, included the project’s deposit of RM741 million with an additional advance payment of RM500 million instead of the RM741 million alone; and a 50:50 dividend payment between the project’s developing consortium Iskandar Waterfront Holdings and China Railway Engineering Corp, and the government-owned company TRX City Sdn Bhd.
Lim said following the change of government after the 2018 General Election, the “scandalous elements” of 1Malaysia Development Bhd (1MDB) could finally be cleared from the Bandar Malaysia project.
“This has resulted in a new Bandar Malaysia project that gives additional benefits worth RM4 billion.”
Lim said a framework agreement was signed on April 25, with the Cabinet having approved the Bandar Malaysia Development Advisory Committee under the ministry to renegotiate better terms for the country and its people.
This, he said, eventually led to the new agreement being signed on Tuesday for the RM140 billion project along Jalan Sungai Besi in Kuala Lumpur.