PARLIAMENT 1MDB has not yet put forth development proposals to monetise its land in Penang, the Finance Ministry said.
1MDB had in February last year said it planned to monetise the land in Air Itam and Air Putih through joint projects or by selling the plots.
"(But) as of now 1MDB or its agencies have not submitted its housing or development project plans to the Penang state government," the Finance Ministry said in a written reply to Parliament yesterday.
It was responding to a question from Lim Guan Eng (DAP-Bagan) on why the federal government had not fulfilled its promise to build affordable houses in Penang through 1MDB.
1MDB had first announced the affordable housing project in 2013.
The Star reported today that two more companies had submitted bids for the 1MDB land, bringing the total number of bidders to four.
Citing sources, daily named the bidders as Suiwah Corp Bhd, a supermarket chain operator; Titijaya Land Bhd, a Klang Valley-based property developer; a joint-venture between Ideal Property and BSG group and a company related to a well-known developer in the state.
The property is currently valued at RM1.325 billion, compared to the RM1.06 billion 1MDB originally paid for the land.
1MDB has sold off two of its assets, Edra Global Energy and Bandar Malaysia, in order to cover its massive RM42 billion debts.
However, the government has consistently maintained that 1MDB is not in trouble as it has more assets than debts.
Resource: https://www.malaysiakini.com
1MDB had in February last year said it planned to monetise the land in Air Itam and Air Putih through joint projects or by selling the plots.
"(But) as of now 1MDB or its agencies have not submitted its housing or development project plans to the Penang state government," the Finance Ministry said in a written reply to Parliament yesterday.
It was responding to a question from Lim Guan Eng (DAP-Bagan) on why the federal government had not fulfilled its promise to build affordable houses in Penang through 1MDB.
1MDB had first announced the affordable housing project in 2013.
The Star reported today that two more companies had submitted bids for the 1MDB land, bringing the total number of bidders to four.
Citing sources, daily named the bidders as Suiwah Corp Bhd, a supermarket chain operator; Titijaya Land Bhd, a Klang Valley-based property developer; a joint-venture between Ideal Property and BSG group and a company related to a well-known developer in the state.
The property is currently valued at RM1.325 billion, compared to the RM1.06 billion 1MDB originally paid for the land.
1MDB has sold off two of its assets, Edra Global Energy and Bandar Malaysia, in order to cover its massive RM42 billion debts.
However, the government has consistently maintained that 1MDB is not in trouble as it has more assets than debts.
Resource: https://www.malaysiakini.com
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