TREASURY SEC-GEN AP­POINTED CHAIR­MAN OF TRX, BAN­DAR MALAYSIA

I have full con­fi­dence in his lead­er­ship, says prime min­is­ter

New Straits Times - - Front Page - NIK IM­RAN AB­DUL­LAH KUALA LUMPUR nikim­ran@nst.com.my

TREASURY sec­re­tary­gen­eral Tan Sri Dr Mohd Ir­wan Seri­gar Ab­dul­lah has been ap­pointed chair­man of TRX City Sdn Bhd and Ban­dar Malaysia Sdn Bhd.

Prime Min­is­ter Datuk Seri Na­jib Razak said Ir­wan would head a team with over­all re­spon­si­bil­ity for these projects, as well as the mon­eti­sa­tion of 1Malaysia De­vel­op­ment Bhd’s (1MDB) re­main­ing real es­tate as­sets.

“I have full con­fi­dence that, un­der Ir­wan’s lead­er­ship, the prospects for and de­vel­op­ment of Ban­dar Malaysia will go from strength to strength,” he said in a state­ment yes­ter­day .

Na­jib, who is also finance min­is­ter, said Ban­dar Malaysia should have the right lead­er­ship, part­ners and own­er­ship struc­ture to en­sure that it reached its full po­ten­tial.

He said the min­istry would re­tain own­er­ship of Ban­dar Malaysia to en­sure that it ben­e­fited the na­tion and its peo­ple.

He said with these de­vel­op­ments, the work of the Budi­man Com­mit­tee, which was es­tab­lished in 2015 to over­see 1MDB’s ra­tio­nal­i­sa­tion ex­er­cise, would end.

He said TRX City and Ban­dar Malaysia would soon an­nounce a re­quest for pro­posal (RFP) process, invit­ing ex­pres­sions of in­ter­est for the role of master de­vel­oper of Ban­dar Malaysia.

“Con­trary to some er­ro­neous re­ports, the ter­mi­na­tion of the pre­vi­ous agree­ment is fi­nal, and it will not be re­in­stated.”

Na­jib said the se­lec­tion process for master de­vel­oper would in­volve very strict cri­te­ria, in­clud­ing a proven track record, speed of de­liv­ery, con­tent cre­ation and the fi­nan­cial ca­pa­bil­ity to de­liver a project of this scale.

He said the high­est pos­si­ble value would be sought to en­sure that the best deal for the tax­payer was ob­tained.

He said Ban­dar Malaysia was a key de­vel­op­ment to move the coun­try for­ward.

“While we can all be proud of the city (Kuala Lumpur) it is to­day, I have a big­ger vi­sion of a city that is one of the lead­ing capitals of the world, driv­ing for­ward Malaysia’s na­tional trans­for­ma­tion.”

On his ap­point­ment, Ir­wan vowed to de­liver “ex­cit­ing and sus­tain­able de­vel­op­ments” to the na­tion’s cap­i­tal.

He said he was hon­oured to re­ceive the new ap­point­ment.

“I thank the prime min­is­ter for his con­fi­dence in me,” he said in a state­ment shortly af­ter the an­nounce­ment of the dual chair­man­ship.

Ir­wan said the two en­ti­ties were re­spon­si­ble for Kuala Lumpur’s most im­por­tant real es­tate projects, and that he was com­mit­ted to en­sur­ing that the na­tion’s cap­i­tal was trans­formed and the peo­ple ben­e­fited from its de­vel­op­ments.

“As the prime min­is­ter an­nounced, I am pleased to con­firm that TRX City will be con­duct­ing a RFP process.”

He said pro­pos­als would be ac­cepted up to June 30, with a fi­nal de­ci­sion on the master de­vel­oper be­ing made by TRX City in con­sul­ta­tion with the Finance Min­istry by July 14.

“All in­ter­ested par­ties are in­vited to par­tic­i­pate in this process, pro­vided they can meet these cri­te­ria.”

Ir­wan said Ban­dar Malaysia would be a world-class “city-within-a city” and serve as a cat­a­lyst for eco­nomic de­vel­op­ment and em­ploy­ment, in­clud­ing the new KL In­ter­net City, a key hub of the new Dig­i­tal Free Trade Zone.

He said Ban­dar Malaysia would also serve as the coun­try’s trans­port nu­cleus, with the Kuala Lumpur-Sin­ga­pore High-Speed Rail, MRT lines, KTM Ko­muter, Air­port Ex­press Rail Link and 12 high­ways.

Tan Sri Dr Mohd Ir­wan Seri­gar Ab­dul­lah

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