REALLY NAJIB? CHINESE TO HOLD ‘ONLY 24%’ STAKE IN BANDAR MALAYSIA – FINANCE MINISTRY TELLS PARLIAMENT

KUALA LUMPUR – Chinese companies will only own a 24 per cent stake in Bandar Malaysia in terms of structured equity, Deputy Finance Minister Datuk Lee Chee Leong told the Dewan Rakyat today.

He said the transport integrated underground city project will be fully operated by the Ministry of Finance.

A joint consortium between China Railway Engineering Corp (CREC) and Johor’s Iskandar Waterfront Holdings (IWH) known as IWH-CREC Sdn Bhd which has been appointed as the developer, will own 60 per cent stake in the project, he added.

“But the real structured equity owned by Chinese companies will only be 24 per cent.

“The main operator of the project is MoF,” Lee said in reply to Oppositon Leader and Permatang Pauh MP Datuk Seri Dr Wan Azizah Wan Ismail during Question Time.

– Malay Mail

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