Business

Property developer shrugs off 1MDB controversies to consider investment at TRX

KUALA LUMPUR — May 26, 2015: A property development company has expressed interest to participate in business initiatives initiated by 1Malaysia Development Berhad (1MDB).

Nexgram Land Sdn Bhd executive director Alan How Han Lun today said that the company is interested to invest in the Tun Razak Exchange (TRX), which is one of the 1MDB’s projects.

“Though we have not come up with any solid plan, yet we do not want to miss out on the opportunity to be involved in this project located in the city centre,

“Who knows maybe in the future we can build our landmark there but the prospect is still being analyzed by our team,” said Alan in a press conference held after an MoU sigining between Nexgram Land and MCC Overseas (M) Sdn Bhd.

Alan said that this was the best time for the company, which is the Nexgram Holdings Bhd’s property development arm to invest in TRX as he foresaw the lucrative value of  the project and wants to utilize the country’s current economic downturn to minimize costs.

Despite knowing the negativities plaguing the alleged ‘debt-ridden’ 1MDB, Nexgram Land chairman Datuk Seri Wira Ayub Yaakob, said that the company has its own way to appraise the value of TRX.

“We have our own analysts, so we are not going to be bothered with others’ sentiments regarding 1MDB,

“If the opportunity overpowers the threats, then we have to consider the project seriously and professionally,” he said.

Today, Nexgram Land announces co-operation initiatives with MCC Overseas for the development of two residential projects in Cyberjaya and Putrajaya.

The project, located in Putrajaya is called Angkasa Residence @ Putrajaya cateres for civil servants working in the viccinity.

The other project in Cyberjaya, called Angkasa City @ Cyberjaya, will house lifestyle commercial retail lot, one block of high-end SOVO residence and a five star hotel serviced suits.

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Zaidi Azmi

Zaidi Azmi

If Zaidi Azmi isn’t busy finding his way in the city, this 26-year-old northern kampung boy can be found struggling to make sense of the Malaysian political scene. Zaidi can be reached at [email protected]