TREASURY SEC-GEN APPOINTED CHAIRMAN OF TRX, BANDAR MALAYSIA
I have full confidence in his leadership, says prime minister
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.