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 Prime Minister Datuk Seri Najib Razak says Malaysia is willing to discuss with China's Dalian Wanda Group Co Ltd to be the new master developer for Bandar Malaysia. File pix.
Prime Minister Datuk Seri Najib Razak says Malaysia is willing to discuss with China's Dalian Wanda Group Co Ltd to be the new master developer for Bandar Malaysia. File pix.
Prime Minister Datuk Seri Najib Razak shakes hand with Dalian Wanda Group Co Ltd founder Wang Jianlin (right).
Prime Minister Datuk Seri Najib Razak shakes hand with Dalian Wanda Group Co Ltd founder Wang Jianlin (right).

BEIJING: Prime Minister Datuk Seri Najib Razak today officially declared Malaysia's willingness to discuss with China's Dalian Wanda Group Co Ltd to be the new master developer for Bandar Malaysia.

"I hope there can be a favourable outcome based on mutually accepted terms," he said at a joint press conference with Dalian Wanda Group Co Ltd founder Wang Jianlin at Sofitel Hotel here.

Dalian Wanda Group Co Ltd, a multinational conglomerate founded by China’s richest man, Wang, is headquartered in Beijing.

Najib thanked the Group for its deep interest and desire to participate in the development of Bandar Malaysia.

"Your profound interest to do so reflects your confidence in the Malaysian economy and the future of the country.

"We have an opportunity to do something special in Malaysia. We want this to be iconic, not run of the mill.

"We believe Wanda can deliver something extraordinary and so imaginative that all Malaysians can be proud of."

Wang said the Group was committed to build the commercial centre in Malaysia.

TRX City Sdn Bhd, which is under the Ministry of Finance, had on May 2 announced that the share sale agreement (SSA) signed with IWH and CREC on Dec 31, 2015 for the sale of a 60 per cent stake in Bandar Malaysia Sdn Bhd had lapsed. (The IWH-CREC consortium subsequently on July 21 last year assigned its benefits and responsibilities to IWH CREC Sdn Bhd).

“This is because, despite repeated extensions being granted, IWH CREC failed to meet the payment obligations outlined in the conditions precedent under the SSA. As a result, the agreement between the parties stands null and void with immediate effect,” TRX City said.

Bandar Malaysia, located on the old airport site of the Kuala Lumpur Air Base in Sungai Besi, is expected to be a catalyst for economic growth and national development.

Deemed as the biggest development site in Malaysia in a key strategic position, it will offer many business, investment and employment opportunities, including Kuala Lumpur Internet City, the hub for the new Digital Free Trade Zone (DTFZ).

It will also be Malaysia’s transport nucleus, connecting the Kuala Lumpur-Singapore high-speed rail, MRT lines, KTM Komuter, Express Rail Link and 12 highways.

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