‘Budi­man Com­mit­tee has com­pleted as­sign­ments’

New Straits Times - - News -

KUALA LUMPUR: The Budi­man Com­mit­tee, set up in 2015 to over­see the rationalisation of 1Malaysia De­vel­op­ment Bhd (1MDB), has com­pleted its as­sign­ments and has no more func­tions to ex­e­cute, Sec­ond Fi­nance Min­is­ter Datuk Seri Jo­hari Ab­dul Ghani said.

He said Arul Kanda Kan­dasamy was no longer chair­man of Bandar Malaysia Sdn Bhd.

Re­fut­ing re­ports that the com­mit­tee’s mem­bers had been re­lieved of their du­ties, Jo­hari said there had been no meet­ing for the past six months.

“Any re­port stat­ing that any mem­ber of the Budi­man Com­mit­tee had been re­lieved of his duty is er­ro­neous and ma­li­ciously mis­lead­ing,” he said yes­ter­day.

Jo­hari and Arul Kanda, the for­mer 1MDB chief ex­ec­u­tive of­fi­cer, were re­port­edly part of the com­mit­tee.

They were re­port­edly no longer spear­head­ing 1MDB-linked prime de­vel­op­ments, namely the Tun Razak Ex­change (TRX) and Bandar Malaysia.

This fol­lowed the Fi­nance Min­istry­owned TRX City Sdn Bhd’s de­ci­sion to abort a RM7.41 bil­lion deal to jointly de­velop Bandar Malaysia with Iskan­dar Wa­ter­front Hold­ings Sdn Bhd (IWH) and China Rail­way En­gi­neer­ing Corp (CREC).

Jo­hari said he was af­fil­i­ated to the com­mit­tee only af­ter be­ing ap­pointed deputy fi­nance min­is­ter in July 2015.

He said the com­mit­tee had con­tin­ued with the 1MDB rationalisation and was able to dis­pose of its power as­sets to China’s CGN Group, re­ac­ti­vate the TRX de­vel­op­ment and con­clude an in­ter­na­tional bid­ding ex­er­cise in re­spect of Bandar Malaysia.

The com­mit­tee also pur­sued the ar­bi­tra­tion be­tween Abu Dhabi’s In­ter­na­tional Petroleum In­vest­ment Com­pany (IPIC) and 1MDB to re­solve the dis­pute over the US$3.5 bil­lion (RM15.2 bil­lion) pay­ment made by 1MDB to the IPIC Group.

Jo­hari said the set­tle­ment ar­range­ment be­tween 1MDB and IPIC and the cur­rent dis­pute with IWH-CREC over Bandar Malaysia were be­ing han­dled di­rectly by the Prime Min­is­ter’s Of­fice (PMO) and the 1MDB board.

“Apart from the re­moval of Arul Kanda as chair­man of Bandar Malaysia, the 1MDB board and the PMO will con­tinue to man­age the is­sues, in re­spect of Bandar Malaysia, di­rectly with the par­ties con­cerned,” he said.

Datuk Seri Jo­hari Ab­dul Ghani

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