Bandar Malaysia's RFP to be issued this week, says Irwan Serigar

SUBANG (June 21): Bandar Malaysia Sdn Bhd chairman Tan Sri Dr Mohd Irwan Serigar Abdullah said the request for proposal (RFP) for the RM12.35 billion Bandar Malaysia project will be issued sometime this week, adding there have been many parties indicating interest in the development.

"We are going to issue the RFP this week. We will put certain conditions this time around [in appointing the master developer]," said Irwan, who is also chairman of TRX City Sdn Bhd, after the launch of ColossusINNO 2017 here today.

"For example, only renowned companies or those with great experience are allowed. There will be certain criteria and if they meet that criteria, only then can they participate," he added.

Asked if Iskandar Waterfront Holdings Sdn Bhd (IWH) had expressed interest to participate in the project again, he declined to comment, except to say there have been many parties that had indicated interest.

In May, TRX City terminated a planned sale of a 60% stake in Bandar Malaysia to IWH CREC Sdn Bhd, a jointly-owned entity between IWH 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 obligation" under the agreement entered into on Dec 31, 2015. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.