Share
GEORGE TOWN (July 25): The proposal for the RM1 billion soft loan for the Penang Transport Masterplan originated with Southern Reclamation Scheme (SRS) Consortium Sdn Bhd, said Penang Chief Minister Chow Kon Yeow.
The SunDaily reported that the proposed loan was to jump start two components of the Penang Transport Masterplan, namely the George Town to Bayan Lepas Phase One of the Light Rail Transit system (LRT) and the Pan Island Link Phase One highway project.
Chow said that SRS, who is a project delivery partner, and the state would reinstate the previous financial model of reclaiming three islands off Bayan Lepas to underwrite the masterplan, should the proposed financing mode not be feasible.
Chow said that the state will be writing in formally to the Finance Ministry to seek the soft loan or grant, according to the SunDaily.
The interest rate for the federal loan is estimated at be at 3% to 4%.
TOP PICKS BY EDGEPROP
Wangsa Maju Seksyen 5
Wangsa Maju, Kuala Lumpur
Sunway Rydgeway Puncak Melawati
Taman Melawati, Selangor
Bandar Bukit Tinggi
Bandar Botanic/Bandar Bukit Tinggi, Selangor
Bandar Kinrara
Bandar Kinrara Puchong, Selangor
DO MORE WITH EDGEPROP.MY
-
Read newsRead the latest news and in-depth coverage of Malaysian property - what's hot, what's not and more
-
Search listingsFind residential or commercial properties for sale, rental and auction by licensed agents
-
Search new projectsCheck out over 200 new project launches and offers by developers in Klang Valley and other locations
-
Get property market insightsGet your personalized property report (including estimated home value) and find past transacted data
-
Get home design ideasZING.my can help you get started on your renovation project. Find hundreds of design portfolios by professionals in Malaysia
-
Partner with usAre you a real estate agent or home professional? List your properties or portfolio with us for free and get quality leads.
