‘Govt may sell if offers are good’

Azmin: We will consider to monetise assets of Felcra project

THE government will consider selling the commercial and mixed development parts of the Menara Felcra project if it receives good offers, says Datuk Seri Azmin Ali ( pic).

“If we receive good offers to monetise the assets, we will consider them.

“We will be selling properties including apartments and commercial blocks.

“However, this depends on the offers because we do not want to sell the assets if they are not profitable,” said the Economic Affairs Minister in reply to a supplementa- ry question from Datuk Seri Ismail Mohamed Said (BN-Kuala Krau) during the Minister’s Question Time.

Ismail had asked the government whether it would continue with the project and its long- term impact.

Menara Felcra, to be constructed at Jalan Sultan Yahya Petra (formerly Jalan Semarak), will comprise a 35-storey office tower, a 43-storey service apartment and a commercial centre encompassing a shopping mall, auditorium and a banquet hall.

The project was launched in May 2015 by Datuk Seri Najib Tun Razak and was scheduled to be completed last year.

Azmin said as of Sept 30, the project was 41.22% completed, which was 96 days behind schedule.

Despite that, the government would proceed with the project, he said, adding that the delay was due to Felcra’s cash flow problems.

He said initially, the contractor of the project was to design, build and finance the entire project, and hand it over to Felcra once the office building and the convention centre were completed.

However, after the project was awarded, the contractor proposed for the land to be leased to the bank for financing purposes which Felcra disagreed.

Azmin said the contract was reviewed to only design and build with Felcra financing the project.