After the cancellation of the share sale agreement between TRX City Sdn Bhd and IWH CREC Sdn Bhd, consortium of China Rail Engineering Corporation on Bandar Malaysia, a lot people is worry that what happen next? Now it seems China Richest Man from Dalian Wanda Wang JianLin is interest in Bandar Malaysia project.
Wanda interested in Bandar Malaysia
BEIJING: Dalian Wanda Group, owned by China’s richest man Wang Jianlin, has expressed “desire” to participate in the Bandar Malaysia development.
The Wanda chairman told reporters that the investment would be “really huge”, estimating it at more than US$10bil (RM44bil).
“While we have not reached an agreement yet, I am here expressing my stance,” he said at a joint press conference with Prime Minister Datuk Seri Najib Tun Razak at the Sofitel Beijing Hotel owned by Wanda Group.
“Wanda has confidence in the investment environment of Malaysia and its future prospects, and we are willing to share our experiences with Malaysia to build a one-of-its-kind mega integrated cultural and tourism project,” he said after meeting Najib for over an hour.
Wang said going global was an important agenda for Wanda, adding that revenue from its overseas investments made up over 20% of the group’s profit last year.
Najib said the Malaysian Government envisioned Bandar Malaysia to be an iconic development instead of a run-of-the-mill property development.
“It will have great content, with cultural values and tremendous entertainment attractions,” he said, adding that he believed Wanda Group could deliver “something extraordinary, something so imaginative” for Bandar Malaysia which all Malaysians would be proud of.
“We have not gone into details and there is no agreement as yet, but this is to indicate their desire and our willingness to discuss with them,” Najib said, adding he looked forward to a favourable agreement on mutually acceptable terms.
Last week, Malaysia’s Finance Ministry called off a deal with the consortium of China Rail Engineering Corporation and Iskandar Waterfront Holdings, which was to be the master developer of the project that would also house the main terminus of the Kuala Lumpur-Singapore High Speed Rail.
At another press conference, Najib said the formula for equity stakes in the Bandar Malaysia development would be changed and the participants would not be just Dalian Wanda Group alone.
“We will take into account the position of China Rail Engineering Corporation and other groups that are interested,” he said.
To questions on when the agreement with Wanda would be finalised, Najib said details would be revealed “when the time comes”.
Later, Najib said China had assured Malaysia that it would continue to encourage financially strong and credible companies to invest in the country.
It also pledged to continue to support China-linked strategic projects in Kuala Lumpur.
Chinese Premier Li Keqiang, he said, had made this promise during their meeting at the Great Hall of the People yesterday.
“Any company that fulfills the criteria will be given support by the Chinese government so that strategic projects can be implemented,” he said after meeting Li and President Xi Jinping separately.
In his meeting with Li, Najib said he had informed the Chinese leader that he was taking a relook at the Bandar Malaysia project.
“It will go on for sure. As for its form and the parties involved, we will decide in the near future,” he said.
On whether the Chinese government would endorse Dalian Wanda Group’s investment in Bandar Malaysia, Najib said: “We will refer to the Chinese government based on the final settlement since it requires their support.”
During his four-eyed meeting with Xi, Najib said the leader had again expressed his appreciation to Malaysia for being one of the first few countries to pledge support for its Belt and Road initiative.
“On my request during my previous visit to Beijing in November last year, China has now increased the imports of palm oil from Malaysia. The volume has doubled in the first three months of the year,” Najib said, adding that tourist arrivals from China had also grown from 1.6 million in 2015 to 2.1 million last year.
“We are hoping for the figure to exceed three million this year. Based on the statistics so far in the first four months of the year, we can achieve this goal,” he said.
Najib and Li witnessed the signing of three government-to-government memorandums of understanding after their meeting.
Two companies from China also signed MoUs with their Malaysian counterparts to carry out the second phase of the East Coast Rail Link (ECRL) and gas and petroleum pipeline infrastructure project in Pengerang, Johor.
Refer from www.thestar.com.my
Great news for low income group!!! Here help to own house with zero interest rate housing loan. Perhaps this is the best opportunity for you to own a house if you are ready for the commitment.
CIMB, Maybank offer zero interest housing loans for low income staff
According to CIMB Group group CEO Tengku Datuk Seri Zafrul, the new measures demonstrate the bank’s commitment to ensure that deserving staff are adequately supported, to help them succeed in both their career and personal lives. Meanwhile, Maybank will be offering 0% interest for the first RM100,000 on staff housing loans for selected categories.
PETALING JAYA: The country’s two leading banks have come up with O% interest on housing loan schemes for their low income staff.
CIMB Group Holdings Bhd started the ball rolling on the fresh incentives launched in conjunction with Labour Day celebration last week, followed by Malayan Banking Bhd (Maybank) last Friday.
CIMB Group has set aside RM1bil for its programme to assist lower income staff in their housing loans.
A CIMB official said about 4,000 staff were expected to benefit from the scheme.
Under the scheme, employees who earn not more than RM3,500, will enjoy 0% interest in their housing loans for a maximum of five years or three years for completed properties, on loans not exceeding RM250,000.
Eligible staff are only required to start paying the loan instalment in the sixth year or fourth year for completed properties, which provides them with a roof over their heads while relieving them of the financial burden of servicing a housing loan during those periods.
Apart from that, single parents will receive financial assistance of RM200 monthly for each school-going child aged 18 years and below, subject to a maximum of five children.
In addition, staff earning not more than RM2,000 will also receive monthly assistance of RM50 for their water bill, and RM100 through Touch ‘n Go credit to partly fund their transportation cost.
According to CIMB Group group CEO Tengku Datuk Seri Zafrul, the new measures demonstrate the bank’s commitment to ensure that deserving staff are adequately supported, to help them succeed in both their career and personal lives.
“Our staff is the group’s most valuable asset, who have contributed so much to the group’s success and performance.
“This is also in line with CIMB’s new brand promise, ‘Forward’, which for our staff is about enabling them to progress and realise their dreams,” he said.
Meanwhile, Maybank will be offering 0% interest for the first RM100,000 on staff housing loans for selected categories.
The special interest rate housing loans, effective 1 July 2017, will be applicable for new and existing loans of Maybank Group employees in Malaysia who have a basic salary of up to RM3,000 per month.
Maybank Group chief human capital officer Nora Abd Manaf said in a statement that the new scheme was part of the group’s ongoing review of staff benefits to ensure they are adapted to the needs of employees as well as in line with emerging trends in market and industry.
“We believe the new housing loan rate will provide those eligible with significant relief and mitigate the concerns that they have with regards to their accessibility to affordable housing, especially in the more urban areas.”
Nora added that employees will continue to enjoy subsidised interest rates for home financing for amounts in excess of RM100,000 which currently stand at 3% for non-clerical and 3.5% for all other grades.
Over the years the group has been spearheading many pioneering human capital initiatives to ensure that it offers employee benefits that among the best in class.
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