To the purported 20,000 workers who, according to MMC Gamuda, would lose their jobs as a result of the underground contract termination, let me emphasize that the Malaysian government is not terminating the project. You will find plenty of opportunities when the new project is awarded at a lower cost, while the savings generated would mean even more projects for the future.

Guan Eng: Reduction in cost to RM7.3b is still ‘inadequate’

The government will introduce new taxes and sell assets to pare down debts

Currently, the maximum loan tenure is 35 years or or until the borrower turns 70 years old, whichever is earlier.

“We are not working on the incentives on IBS developments, not really. Because what we want to do is to give them [developers] the volume and they can construct their homes faster. IBS is supposed to be faster and cheaper, if we have the volume,” she told reporters at a press conference after the opening of Rehda Institute's Rehda Institute’s Housing Conference 2018 themed Re-inventing Affordability today.

Speaking to reporters at Rehda Institute’s Affordable Housing Conference today, Housing and Local Government Minister Zuraida Kamaruddin said compliance cost, which is estimated to account for 20% to 25% of overall development cost, is one of the factors contributing to high housing prices.

The joint venture said it has not received any notice of contract termination.

According to Zuraida, only 27 sites out of 127 for affordable housing projects were supplied by state governments, and she has met up with the Chief Ministers and Menteri Besar in different states to request that they provide suitable land for the development of affordable housing

A total of 35 stations, 11 of them underground, will be built under MRT2, also known as the Sungai Buloh-Serdang-Putrajaya (SSP) line.

Petobo, a cluster of villages, was subsumed when vibrations from the 7.5-magnitude quake turned soil to quicksand — a process known as liquefaction.