- The Malay Mail reported that 1Malaysia Development Bhd (1MDB) is set to announce the shortlisted bidder for the Bandar Malaysia project before the end of this week. The report added that as of 28 August, 1MDB has received 12 bids. This comes after 12 companies participating in the Request for Proposal (RFP) exercise.
- The shortlisted bidders will be vying to be the development partners for the Bandar Malaysia project.
- While we are not privy to the identity of the participants, the bidders that had earlier participated in the RFP exercise include local private developers, government-linked companies and foreign parties either submitting independently or via a consortium.
- Based on earlier reports, CH Williams, Talhar and Wong (WTW), the transaction advisor handling the RFPs for Bandar Malaysia, was to review the various proposals by year-end.
- The short-listing process could be a precursor to negotiations for financial and share sale agreements, we believe. To make the final cut, contenders may need to showcase their track record, branding and financial capabilities to be a development partner for Bandar Malaysia.
- Along with the Tun Razak Exchange (TRX), KWASA Damansara and Menara Warisan Merdeka (KL118), Bandar Malaysia is among several prime government redevelopment projects that are set to take off over the next few years. This integrated development is being spearheaded by 1MDB Real Estate (1MDBRE), which is the master developer.
- While key details remain unknown (e.g. indicative land cost, plot ratio, payment terms, level of equity participation), we believe one of the key attractions of Bandar Malaysia lies with its potential to be repositioned as an integrated transport hub within the KL city centre.
- Located 7km from KLCC and 3km from the TRX, The 486-acre Bandar Malaysia is being positioned as a mixed use urban development that is expected to serve as a catalyst for the transformation of Greater KL.
Source: AmeSecurities Research - 8 Sep 2015
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