Category Archives: Media

Fake letters to Develop Bandar Malaysia.

It has come to our attention that a third party not linked to or authorised by 1MDB or the Government of Malaysia is purporting to be the project manager for the Bandar Malaysia and Tun Razak Exchange developments. This third party has issued letters for offer of appointment without the authorisation of 1MDB and its subsidiaries and the Government of Malaysia to companies to participate in the projects.

The third party, which called itself Khidmat Runding Jatipadu, has issued letters bearing the Government of Malaysia logo under the letterhead of Perbadanan Bandar Malaysia. Based on our verification, Perbadanan Bandar Malaysia does not exist and the logo of the Government of Malaysia has been improperly obtained. Further, the addresses provided of Khidmat Runding Jatipadu in the said letters are not occupied by their office. These fake letters were brought to our attention by certain of its recipients, with an offer to appoint them as joint developer or consultant accordingly for a financial district project in Sungai Besi.

The fake letters also requested companies to submit their company registration, profile and financial statement, along with payment in the form of bank draft or company cheque.

1MDB Real Estate Sdn Bhd, as the master developer for the Bandar Malaysia and Tun Razak Exchange developments, would like to stress that both these strategic national development projects are being managed solely by 1MDB Real Estate Sdn. Bhd.

In relation to Bandar Malaysia, 1MDB RE has only authorised the real estate services company CH Williams Talhar and Wong (WTW), to approach third parties for proposals. WTW are the appointed transaction advisor for the Bandar Malaysia Request For Proposal process. This process began in June 2015 and has successfully closed in November 2015.

The Tun Razak Exchange development is not currently running a process seeking joint developers or consultants.

1MDB RE has lodged reports on the matter with the relevant authorities. Please be advised that the said offer letters are fake and it’s issuance not authorised by 1MDB and its subsidiaries and the Government of Malaysia, and we encourage companies that have received the invitation to notify us at [email protected]. We also urge companies to check any such notices against the information available on www.1mdb.com.my or www.bandarmalaysia.my.

 

Bandar Malaysia shortlists four potential development partners.

KUALA LUMPUR, 11 September 2015: Further to the announcement made on 1 September 2015, CH Williams Talhar and Wong (WTW), the transaction advisor for the Bandar Malaysia Request for Proposal (RFP), is pleased to update that four companies and/or consortia have been shortlisted and approved by 1MDB as potential development partners in the 486-acre project.

The four preferred bidders were shortlisted from the 12 proposals submitted at closing date of the RFP on 28th August 2015, which included proposals from domestic private developers, GLCs and foreign parties, either submitting independently or as a consortium.

The proposals were assessed and evaluated by WTW and a shortlist was presented to 1MDB Board of Directors for approval. The final four bidders will undergo a detailed due diligence, clarification and negotiation process with 1MDB Real Estate and WTW before a final recommendation is made to the 1MDB Board of Directors.

“We are working to finalise Bandar Malaysia’s development partner(s) by the end of October. We then aim to execute definitive legal agreements latest by the end of November 2015,” said Danny Yeo, WTW’s Deputy Managing Director.

The commercialisation of Bandar Malaysia is part of 1MDB’s rationalisation plan as presented to the Cabinet on 29 May 2015. 1MDB has been encouraged by the high quality of bids received and significant interest shown in Bandar Malaysia. The final decision making process will be guided by, amongst others, value maximisation to 1MDB’s shareholders, deal certainty, and terms that are fair and reasonable.

Bandar Malaysia will be a mixed-use urban development that is expected to serve as a catalyst for the transformation of Greater Kuala Lumpur. Strategically located within seven kilometres of Kuala Lumpur City Centre (KLCC), the development will serve as Kuala Lumpur’s gateway for the high-speed rail-line to Singapore and become a central transport hub in the city via MRT lines 2 and 3, KTM Komuter, ERL, and future access to major highway networks.

40 parties have answered Bandar Malaysia’s request for proposal exercise.

Kuala Lumpur, 13 July 2015: CH Williams Talhar and Wong (WTW), the transaction advisor for the Bandar Malaysia’s Request for Proposal exercise, said today it has received strong interest from both local companies and global players to participate in the project.

40 parties, including some consortiums, have answered the project’s call for Expression of Interest (EOI), which ended Friday July 10. Among interested investors are Government-Linked Companies (GLCs), top Malaysian developers, world-class property brands, as well as foreign state investment corporations. Apart from Malaysia, interested investors are also from Singapore, China, Japan, Korea and Australia, said WTW.

1MDB Real Estate Sdn Bhd, as the project’s master developer, announced last month that it is seeking development partners to participate in the 486-acre project in Sungai Besi, Kuala Lumpur.

Following the EOI stage, WTW will undertake the first stage of evaluation. Shortlisted pre-qualified investors will then receive the Investment Memorandum that will detail Bandar Malaysia’s development vision and its proposed master plan.

1MDBRE is looking for development partner(s) that can contribute to the project, bringing in strong brand names, relevant expertise, strong track record and the capacity to raise necessary funding.

The commercialisation of Bandar Malaysia is part of a rationalisation plan for 1MDB which was presented to the Cabinet on 29 May 2015.

Bandar Malaysia will be a mixed-use urban development that is expected to serve as a catalyst for the transformation of Greater Kuala Lumpur. Strategically located within seven kilometres of Kuala Lumpur City Centre (KLCC), the development will serve as Kuala Lumpur’s gateway for the high speed rail-line to Singapore and become a central transport hub in the city via MRT lines 2 and 3, KTM Komuter, ERL, and future access to major highway networks.