Four bidders shortlisted for Bandar Malaysia project

KUALA LUMPUR (Sept 11): Four companies and/or consortia  have been shortlisted and approved by 1Malaysia Development Bhd (1MDB) as potential development partners to develop the 486-acre Bandar Malaysia in Kuala Lumpur.

“We are working to finalise Bandar Malaysia’s development partner(s) by the end of October. We then aim to execute definitive legal agreements latest by the end of November 2015,” said CH Willams Talhar and Wong (WTW) deputy managing director, Danny Yeo in a statement today.

WTW is the transaction advisor for the Bandar Malaysia Request for Proposal (RFP).

The four preferred bidders were shortlisted from the 12 proposals submitted before the closing date of the RFP on Aug 28 this year, which saw submissions from domestic private developers, government linked companies (GLCs) and foreign parties independently or as a consortium.

1MDB has been encouraged by the high quality of bids received and significant interest shown in Bandar Malaysia, said Yeo.

The final decision making process will be guided by, amongst others, value maximisation to 1MDB’s shareholders, deal certainty, and terms that are fair and reasonable.

Bandar Malaysia is a mixed-use development that will be located close to Kuala Lumpur City Centre. It be a central transport hub for the upcoming Mass Rapid Transit line 2 and 3, KTM, Express Rail Link and future access to major highway networks.

Construction of Bandar Malaysia is expected to commence as early as 2017.