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1MDB to look for equity investors for Bandar Malaysia

The proposed Bandar Malaysia at the Sungai Besi RMAF base is the biggest of 1MDB's projects in terms of acreage.

The proposed Bandar Malaysia at the Sungai Besi RMAF base is the biggest of 1MDB's projects in terms of acreage.

Syndicated News
Written by Syndicated News

KUALA LUMPUR — June 17, 2015: 1Malaysia Development Berhad (1MDB) will soon issue a request for proposal (RFP) for equity investors for Bandar Malaysia, its president and group executive director Arul Kanda said today.

He said the 1MDB team is focused on delivery of the rationalisation plan as presented to the Cabinet on last May 29.

“Since then, we have successfully repaid a RM3.6 billion loan and will soon issue a Request for Proposal for equity investors for Bandar Malaysia,” he said in a statement.

In another statement Kanda says he is confident the Public Accounts Committee (PAC) will give a fair opportunity to explain on the strategic development company’s position.

“Notwithstanding the various public statements on 1MDB from PAC member Tony Pua (Petaling Jaya Utara member of parliament), I have every confidence that the honourable members of the committee will allow me a fair opportunity to explain 1MDB’s position, to a lawful authority per the requirements of due process.”

Kanda and 1MDB’s former CEO Datuk Shahrol Halmi will face the Parliamentary body on August 5.

“The purpose of my appearance before the committee is to respond to questions that its members may have,” he said.

Kanda was referring to various statements on 1MDB and himself attributed to Pua. — Bernama

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