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Publish Date : 15-Jun-2015

1Malaysia Development Bhd (1MDB) confirmed that it means to introduce a Request for Proposal (RFP) process for its auxiliary Bandar Malaysia Sdn Bhd in the following 2 weeks, to further its nationalization arrangement which was exhibited to the Cabinet on May 29, 2015. President and group executive director Arul Kanda Kandasamy said, "Having generated considerable local and global interest, the objective of this RFP process is to select qualified equity investors to partner in the overall development."

Bandar Malaysia is another 495-acres blended utilization urban advancement that is relied upon to serve as an impetus for the change of Greater Kuala Lumpur, as it is deliberately situated inside of 7 kilometers of the Kuala Lumpur City Center. The advancement will serve as Kuala Lumpur's gateway for the fast rail-line to Singapore and turn into a central transport center in the city by means of MRT lines 2 and 3, KTM suburbanite, ERL and future access to 12 noteworthy freeway.

To re-position present offices on the site, 1MDB is right now in charge of the conveyance of 8 new police and army installations being developed all over Malaysia. 1MDB is donating RM1.6 billion towards these repositioning expenses, out of an aggregate RM2.7 billion development deal. Arul said, "We are pleased to update that construction of these new bases is on track for handover by Jan 1, 2017, due to the excellent progress by our contractor Perbadanan Perwira Hartanah Malaysia, a 100% subsidiary of Lembaga Tabung Angkatan Tentera."

He added, "Prior to the formal launch of the RFP process, which will be independently managed by CH Williams Talhar & Wong, we request suitably qualified equity investors to register their interest by entering into a confidentiality agreement with 1MDB in order to facilitate the sharing of preliminary information."

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