Rescue Bandar Malaysia or face fallout

PETALING JAYA: The news on Wed­nesday that the Finance Minis­try (MoF) has called off a deal to sell 60% of Bandar Malaysia – a mega property development project estimated to have a gross development value of RM160bil when completed in 20 years – has sent shockwaves through the country and the region.

This unexpected announcement attracted attention mainly because of the buyers involved, and the possible poli­tical and economic implications. It came so abruptly that Prime Minister Datuk Seri Najib Razak cancelled his official visit to the Bandar Malaysia site late Wednesday without giving notice to the media.