KUALA LUMPUR (Nov 21): The Melaka Gateway project was “suddenly terminated” with “no reason given”, developer KAJ Development Sdn Bhd revealed, according to a report by FMT News.
According to CEO and founder of KAJ Development Michelle Ong, they were issued the termination notice on Nov 16 with “no reason given”. “We want to find out why,” she said during a media conference.
KAJ Development is the master developer of Melaka Gateway.
Ong revealed that the company has already poured RM700 million into the project, “having carried out 40% of the project work, including soil investigations”, reported the news portal.
It also managed to “attract foreign direct investment worth billions of ringgit for the project work, to be carried out over the next 10 years”.
“We cannot allow these investments to fail. We have already spent so much money,” she said.
Bernama reported on Nov 16 that the Melaka government has terminated the sea reclamation agreement with Melaka Gateway project developer, KAJ Development
The Chief Minister’s Office said the agreement, dated Oct 4, 2017, expired on Oct 3 and a termination notice was sent to the company after it failed to complete the 246.45 hectares project.
“The company is also required to return the project site, effective upon the termination notice issued by the state government.
“Therefore, all matters arising regarding the Melaka Gateway project site should be directly communicated with the Melaka state government,” it said in a statement.
FMT News reported Ong saying that the state government’s decision to terminate the land reclamation project was “unlawful, invalid, unfair, unreasonable and unconstitutional”.
Ong said the state government’s move to terminate the land reclamation project was “unlawful, invalid, unfair, unreasonable and unconstitutional”.
“We would further like to reiterate that what was terminated was the reclamation concession but the Melaka Gateway is not a reclamation project but a whole private development that KAJ Development had conceived and developed.”
Melaka Gateway is a mixed development project worth RM43 billion, consisting of three new islands.
It was also reported that it would have an international cruise terminal.
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