1MDB denies Bandar Malaysia sale linked to HSR

hitachi bullet train

1Malaysia Development Bhd (1MDB) has denied any link over the sale of its equity stake in Bandar Malaysia Sdn Bhd to the KL–Singapore High Speed Rail (HSR) project. 1MDB has denied that neither it, nor the government, had made any agreements that Bandar Malaysia was linked, despite the project being selected as the Klang Valley terminus for the HSR.

A statement issued January 6 said the sale of 1MDB’s 60% stake, held by subsidiaries TRX City Sdn Bhd (formerly 1MDB Real Estate Sdn Bhd) and Bandar Malaysia Sdn Bhd, to Iskandar Waterfront Holdings (IWH) and China Railway Engineering Corporation (CREC) was an entirely separate deal. It said, “HSR is an entirely separate project, ultimately to be determined jointly by the Governments of Malaysia and Singapore, per a separate process, and will not be linked or be contingent on, in any way, to the sale of 1MDB equity in the Bandar Malaysia project.”

While China is keen to lead the HSR project, Japan is also said to be eager to submit a bid, as has South Korea. Although speculation is rife, there has been no mention as who has the better prospects to win the HSR project. It was reported the Land Public Transport Commission (SPAD) has received over 220 enquiries on the project, with CREC in the list of 14 short-listed candidates.

Looking to sell your car? Sell it with Carro.

Certified Pre-Owned - 1 Year Warranty

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Mohan K Ramanujam

Coming with diverse and extensive experience in heavy engineering, Mohan enjoys making anything with wheels go fast, especially motorcycles. His weapon of choice is the Desmoquattro engine, and he has a penchant for anything with a dash of Italian design. Strangely enough, he insists he's a slow rider.

 

Comments

  • George Abdul on Jan 07, 2016 at 10:28 am

    Denied, empty promise, ego(never admit wrong) and greed(corrup”dona”tion)… BN ministry achievement so far seen scandal and won’t stop until next GE.

    Like or Dislike: Thumb up 17 Thumb down 2
  • TopsyBoXyTurvy on Jan 07, 2016 at 10:32 am

    Biasalah..
    The only thing u can believe from them is their names

    Like or Dislike: Thumb up 6 Thumb down 0
  • tokmoh. on Jan 07, 2016 at 10:39 am

    Dah dah la tu, tak puas kencing orang lagi ke?

    Like or Dislike: Thumb up 3 Thumb down 3
  • China sure win on Jan 07, 2016 at 10:42 am

    like it or not..china bids will still win the malaysia/singapore HSR contract, looked what happen in Indonesia & Thailand, earlier, both country initial report said japan had secured their HSR project (4 lines in thaialand, 1 line in indonesia ) then after months , both country changed their mind and announce china won the bid.. so how could this happen ? just because china offer additional almost interest free financial aid on top of their technical/commercial bid, with both country are facing tough time on their country financial support, so their took the china offer… and back to malaysia, financial statue on years ahead are uncertainty..so if china offer the same package bid, will our govern turn it down ?

    Like or Dislike: Thumb up 0 Thumb down 0
  • Matchy on Jan 07, 2016 at 10:43 am

    Lets say it is not really linked, but won’t it give China an advantage since they own the piece of land?

    Like or Dislike: Thumb up 0 Thumb down 0
  • longjaafar on Jan 07, 2016 at 10:55 am

    A soothsayer says that China will get the HSR project.

    Like or Dislike: Thumb up 0 Thumb down 0
  • 1mdb boleh on Jan 07, 2016 at 11:18 am

    China sure to win coz theyre the only country as corrupt as us. Japan korea doesnt stand a chance

    Like or Dislike: Thumb up 10 Thumb down 1
  • You can say anything you want… But whether we believe is another story. We’d been hearing a lot of empty talks and unanswered questions since your scandal 1MDB.
    Come clean… Back up with facts

    Like or Dislike: Thumb up 7 Thumb down 0
  • areos on Jan 07, 2016 at 3:00 pm

    What is big fuss about that issue…just admit that China offers the most competitive technical and financial package over other countries..there’s nothing strange about it..Japan had previously manipulated our country in many aspect..Don’t you remember Dr M had given the construction of Dayabumi project to Japanese company on joint venture basis with local contractor …in the end upon completion, the Japanese co purposely declared the project is a lost to avoid sharing the proceeds.So its time to colloborate with China..and get reciprocal gain something economically.

    Like or Dislike: Thumb up 1 Thumb down 1
  • Mr Fakta on Jan 07, 2016 at 4:23 pm

    Hearing inside HSR cabin in the future “Next stop, Bandar Tongsan; Stesen seterusnya, Bandar Tongsan; 下一站,唐山”

    Like or Dislike: Thumb up 2 Thumb down 2
 

Add a comment

required

required