RFP for Bandar Malaysia opens today

KUALA LUMPUR (July 5): The request for proposal (RFP) for the appointment of the master developer for the RM12.35 billion Bandar Malaysia project opens today.

Bandar Malaysia Sdn Bhd chairman Tan Sri Dr Mohd Irwan Serigar Abdullah said some parties have already requested further details.

"We are opening [the RFP] today. The criterion is that it must be a Fortune 500 company. They must have experience and the cumulative revenue of the company must be above RM50 billion," he told reporters on the sidelines of the RHB Regional Conference 2017 on "One Belt, One Road, One Asia" here today.

He said Bandar Malaysia is open to foreign developers but added that there is a local content requirement.

"We are open to international companies, and they can work with local companies and so on. There is also the local content criterion on the RFP which must be met," said Irwan.

In May, TRX City Sdn Bhd had terminated a planned sale of a 60% stake in Bandar Malaysia to IWH CREC Sdn Bhd, a 60:40 joint venture between Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corp (M) Sdn Bhd, making the share sale agreement null and void.

TRX City said IWH CREC had failed to meet the payment obligations under the share sale agreement. In response, IWH CREC said the allegation was unacceptable, as IWH CREC had fulfilled "all the required payment obligations" under the agreement entered into on Dec 31, 2015.

It was previously reported that there was a slew of local and foreign companies said to be keen on the Bandar Malaysia project, including property tycoon Tan Sri Desmond Lim and China-based real estate giant, Dalian Wanda Group, as well as government-linked companies.

However, Lim's flagship company, Malton Bhd, has issued a denial to Bursa Malaysia, noting that neither its directors nor shareholders were in any discussion to bid for the project, after rumours of a joint bid between Malton, Wanda and a retirement fund. — theedgemarkets.com

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