Prime Minister Datuk Seri Mohd najib tun Razak being briefed by Executive Vice Chirman of Iskandar Waterfront holdings Tan Sri Lim Kang Hoo ( fourth from right ) at the signing ceremony for bandar Malaysia development in Kuala Lumpur. Also present are from left Datuk Wee Kar Siong, China's Ambassador Huang HuiKang , Johor MB Datuk Seri Khalid Nordin. 9
KUALA LUMPUR: The memorandum of understanding (MoU) for the proposed collaboration between Malaysian Resources Corp Bhd (MRCB) and two other companies to develop an integrated transportation terminal at Bandar Malaysia, Kuala Lumpur, has lapsed.
In a filing with Bursa Malaysia, MRCB said the non-binding MoU, signed with Wondrous Vista Development Sdn Bhd and IWH CREC Sdn Bhd (a joint venture between Iskandar Waterfront Holdings Sdn Bhd and China Railway Group Ltd), had ceased to have any further effect.
No reason was given for not extending the MoU, which was signed on June 16 last year and had a validity period of six months.
Through the MoU, MRCB, Wondrous Vista and IWH CREC had intended to form a strategic alliance for acquiring, constructing, developing and operating the hub.
MRCB executive director Mohd Imran Mohd Salim had said at the signing ceremony that the parties involved needed to iron out issues like acreage, the integrated nature of the development and the density, among other factors.
The 486-acre Bandar Malaysia, whose developer was 40% owned by Minister of Finance Inc and 60% by IWH CREC, is envisioned as Malaysia’s first integrated transit-oriented, mixed-use cluster.
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