Malaysia's financial system can raise the required financing to support the Klang Valley My Rapid Transit (KVMRT), according to Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz. Despite the 'massive funds' needed for the project, which has been touted as the country's most expensive public infrastructure to date, she cited Projek Lebuhraya Usahasama Bhd's RM30.6bil sukuk issuance in January as proof the capital market could stomach that level of fund-raising.

She said, 'We were invited to give our views and proposals on how this (KVMRT) could be financed and I believe there are innovative ways (to do it). Of course, all these projects need to be staggered and not happen at the same time. And they must be managed very carefully so as not to cause an economic dislocation of talent, supply, resources or liquidity.' - The Star

A number of developers are said to have submitted their bids to undertake the development of a 8.09ha in Bangsar that used to house Unilever Malaysia's soap and margarine manufacturing plant. It has been left unoccupied since Unilever Malaysia moved out in 2003. Among the interested bidders are Mah Sing Group Bhd and UEM Land Holdings Bhd.

Located at the intersection of Jalan Bangsar and Jalan Maarof in Kuala Lumpur, the land initially belonged to Perbadanan Aset Keretapi but has since changed hands to new owner Pelaburan Hartanah Bhd (PHB).The successful candidate is expected to be announced in the first half of this year but a source said this might be postponed to after the general elections. - The Star

Source: AmeSecurites