Rafizi does not understand business models, says Barisan - Nation | The Star Online
X Close


Rafizi does not understand business models, says Barisan

  • Nation
  • Saturday, 24 Dec 2016

PETALING JAYA: Barisan Nasional has hit out at opposition lawmaker Rafizi Ramli (pic) for repeatedly making allegations they say are inaccurate and undermines the government. 

In a statement on Saturday, its strategic communications team said the Pandan MP did not understand business models besides being unable to count. 

They were responding to a statement by Rafizi who said claimed that the government will have to take on debts of RM35bil to fund the RM40bil Gross Development Value (GDV) of the Tun Razak Exchange (TRX) project. 

"This clearly shows that Rafizi does not understand the business model of the TRX project managed by the 100% government-owned TRX City Sdn Bhd. 

"The role of TRX City is to be the master planner and promoter of the project to fund, prepare the site which included resettlement of those previously on the site, put in the necessary infrastructure and connecting roads and tunnels - which has cost an estimated RM3.3 billion including land acquisition cost. 

"Such infrastructure includes a tunnel under Jalan Tun Razak, upgrading connection to the Bukit Bintang shopping district, as well as building direct connections to the MEX Highway,  Smart Tunnel and the new Duke Highway - thereby ensuring TRX traffic does not burden the surrounding areas," Barisan said in a statement. 

Barisan added that while it was true that GDV of the TRX projects is RM40 billion, it was based on private entities and private investments and not by the government. 

"Numerous past publicly-available media reports and statements clearly shows projects worth a total GDV of at least RM14 billion have been committed by private investors as part of the first phase of TRX.

These investors include Australia's Lend Lease corp's Lifesyle Quarters project worth RM8 billion, Indonesia's Mulia Group's Signature Tower project worth RM3.5 billion and Tabung Haji’s apartment project worth RM820mil.  

"Many of these private projects are already in an accelerated construction phase and are generating economic activity to support the GDP growth of Malaysia. 

"Anybody who passes by the TRX site will see visible evidence of the scale and speed of the physical construction progress," said Barisan. 

The government team also said that Rafizi who already has many pending court cases against him should stop making "wild and irresponsible allegations".