Development of MRB land in Sg Buloh in line with NEM

KUALA LUMPUR: The proposed development of the Malaysian Rubber Board (MRB) land in Sungai Buloh is an effort towards realising the objective of the New Economic Model of making Malaysia a high income country, said Deputy Minister in the Prime Minister's Department, Datuk SK Devamany.

He said that the move would push up the price of land there and give financial returns to the government through government equity in a joint venture
company spearheaded by the Employers Provident Fund (EPF).

"EPF is chosen as the lead agency for the proposed development of the MRB land in Sungai Buloh based on its strong financial position," he said in
response to a question by Dr Dzulkefly Ahmad (PAS-Kuala Selangor)in the Dewan Rakyat on Monday, July 12.

On property overhang, worth RM5.3 billion, Devamany said it was the value of property yet to be sold in the country for the last quarter of 2009.

He said the proposed development in Sungai Buloh , covering 1,335 hectares, would not cause a property bubble because the land development would be conducted in stages. -- Bernama
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