KUALA LUMPUR: The government today announces the appointment of Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah as the chairman of TRX City and Bandar Malaysia.
Prime Minister Datuk Seri Najib Razak said Irwan would head a team with overall responsibility for these projects and the monetisation of 1Malaysia Development Bhd’s (1MDB) remaining real estate assets.
“I have full confidence that, under Irwan’s leadership, the prospects for and development of Bandar Malaysia will go from strength to strength,” he said in a statement.
Najib, who is also Finance Minister, said furthermore, to ensure that the nation and the people benefit to the greatest extent possible, the ministry would retain 100 per cent ownership of Bandar Malaysia.
He said with these developments, the work of the Budiman Committee – which was established in 2015 to oversee the rationalisation exercise of 1MDB – would come to an end.
He said TRX City and Bandar Malaysia would soon announce a request for proposal (RFP) process, inviting expressions of interest for the role of master developer of Bandar Malaysia.
“Contrary to some erroneous reports, the termination of the previous agreement is final, and it will not be reinstated.”
Najib said the selection process for the master developer would involve very strict criteria, including a proven track record, speed of delivery, content creation, and the financial capability to deliver a project of this scale.
He said the highest possible value would be sought to ensure that the best deal for the taxpayer is obtained.