Success of Battersea development in London will benefit EPF contributors, says Dr Wee

PETALING JAYA: The success of the Battersea Power Station development in London will benefit ordinary Malaysians who contribute to the Employees Provident Fund (EPF), says Datuk Seri Dr Wee Ka Siong.

The Transport Minister said the project, developed by a Malaysian consortium comprising SP Setia Bhd, Sime Darby Property and EPF, is a shining example of the ability of local companies to create and add value to places outside Malaysia.

"The project is even bringing regeneration back to zones in London that had been left unused for decades.

"At the same time, the success of this renowned project will bring dividends and long term yields to ordinary Malaysians who contribute to EPF and subscribe to Permodalan Nasional Bhd (PNB) investments.

"This is because the commercial assets within the Power Station building are directly owned by PNB and EPF," Dr Wee said in a Facebook post Saturday (Oct 16).

Both SP Setia and Sime Darby Property are strategic investee companies of Permodalan Nasional Bhd.

Dr Wee, who is in London, was given a tour of the project by Battersea Project Holding Company chairman Datuk Jagan Sabapathy, Battersea Power Station Development Company (BPSDC) CEO Simon Murphy and BPSDC chief design review officer Marina Chung.

He took the opportunity to ride on the latest addition to London’s Northern Line, with the connection to the new Zone One London Underground Station in the regeneration project.

Dr Wee, who is also MCA president, managed to discuss trade opportunities and prospects with UK MP and Trade Envoy to Malaysia, Richard Graham, who also visited the project site.

"We were shown the project’s impressive integration to public transport which should be emulated back home," he said, adding that Malaysia should take a leaf from the Battersea Power Station development transport links, with its network consisting of a new Tube station, river bus service, buses and bikes.

Dr Wee said Malaysia’s local projects need to focus on actual, practical integration of such options to enhance value for residential and commercial stakeholders, attracting not only local but also foreign investments.