Datuk Seri Najib Tun Razak Must Fully Explain To Restore Public Confidence, especially Johoreans, On The Failed And Aborted Sale Of 60% In The 482 Acre Bandar Malaysia For RM7.42 Billion.(e/c)

Press Statement By DAP Secretary-General And MP For Bagan Lim Guan Eng In Kuala Lumpur On 4.5.2017.

Prime Minister Datuk Seri Najib Tun Razak must fully explain to restore public confidence, especially Johoreans, on the failed and aborted sale of 60% in the 482 acre Bandar Malaysia for RM7.42 billion. Najib had abruptly cancelled his own programme to visit Bandar Malaysia, when the deal with the Sino-Malaysian consortium comprising Iskandar Waterfront Holdings (IWH) and China Railway Engineering Corporation (CREC) fell through.

This raises serious issues of accountability and transparency, especially why 10 extensions of time to make payment were granted since 31 December 2015, and whether the RM741 million deposit paid by IWH-CREC will be forfeited. What was the rationale for granting extensions and were the interests of Malaysians protected when so many extensions of time were granted? As IWH-CREC is a 60:40 joint venture between IWH and CREC, with the Johor government owning 40% of IWH through Kumpulan Prasarana Rakyat Johor Sdn Bhd, how will the Johor people lose out following the aborted deal?

Since CREC is a Tier-1 Chinese government federal agency, funding is definitely not an issue. No wonder Asian Wall Street Journal reported that the deal fell through because the Chinese government refused to authorise the deal, without stating any reasons why. This aborted deal demonstrates a distinct lack of confidence in the direction as well as the viability of Bandar Malaysia.

There are also other possible repercussions as the aborted deal was part of a critical pillar to salvage and resolve the 1MDB RM52 billion scandal through this rationalisation plan. Following the deal’s abysmal failure, concerns have been raised whether this will further affect investor confidence with consequences for the value of our ringgit.







这交易本是旨在挽救和解决1MDB 520亿令吉的丑闻,现在嘎然中止,可能还有其他难以预知的后果。在这起交易失败后,不禁令人担心会否进一步影响投资者的信心以及令吉的表现。