KUALA LUMPUR: There is no need for the Government to back the development of another convention centre, said Liew Chin Tong (DAP-Bukit Bendera).
He was referring to the proposed RM628mil Matrade convention centre to be developed by Naza TTDI on a 5.3ha site in Jalan Duta, Kuala Lumpur.
In return, Naza will get 65 acres of prime land in the city — a deal which industry players told StarBiz was good for the developer because the market value of the land could reach RM1.5bil.
“It is a good deal for Naza, but a bad deal for Malaysians. If there is any need for a new convention centre, it should be built via a private venture without government backing,” said Liew.
He added that there were enough convention centres in the Klang Valley, such as the Kuala Lumpur Convention Centre, the Sime Darby Convention Centre and the Putrajaya International Convention Centre (PICC).
“PICC was built at a cost of RM600mil, fully paid for by the Government and is under-utilised. Last year, it collected RM2.8mil and this year it is expected to collect rental of RM2.5mil.
“It will take 300 years to recoup the cost, assuming zero maintenance,” said Liew.