IWCity falls 3.7% in active trade

KUALA LUMPUR (May 18): Iskandar Waterfront City Bhd fell 3.7% in active trade this morning after Prime Minister Datuk Seri Najib Tun Razak yesterday said Malaysian Government-owned TRX City Sdn Bhd and Bandar Malaysia Sdn Bhd will soon announce the request for proposal process to select the master developer of the Bandar Malaysia real estate project here, according to a Bernama report.

At 9.38am, IWCity fell 7 sen to RM1.82 with 11.44 million shares done.

The planned Bandar Malaysia project is on a 194ha (486 acre/21.17 million sq ft) tract within the old airport site in Sungai Besi here. Bernama quoted Najib as saying the master developer selection would involve strict criteria.

"The selection process for the master developer will involve very strict criteria, including a proven track record, speed of delivery, content creation, and the financial capability to deliver a project of this scale. The highest possible value will be sought to ensure the best deal for the taxpayer is obtained.

Bernama reported that Najib said during his recent visit to China, the Malaysian Government and China-based Dalian Wanda Group Co Ltd had discussed the possibility of Dalian Wanda becoming Bandar Malaysia's master developer.

Najib said he believed diversified entity Dalian Wanda was in a position to undertake the Bandar Malaysia project and that the Malaysian Government was willing to discuss the possibility of developing Bandar Malaysia with Dalian Wanda, it said. — theedgemarkets.com

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