PETALING JAYA: The decision by Bin Zayed International LLC to withdraw from the RM40bil Langkasuka project in Langkawi is not linked to the Kedah state government, as the announcement was made on Bursa Malaysia.
Kedah Mentri Besar Datuk Seri Muhammad Sanusi Md Nor clarified that the project is not a state government initiative but a private venture between Widad Business Group Sdn Bhd and Bin Zayed.
"I don’t understand why this issue has resurfaced, as their withdrawal was already announced on Bursa, a listed company.
"Some are even angry with me, but it has nothing to do with me. The project was announced by the Prime Minister at that time in Kuala Lumpur," he said at a press conference after presenting the Kedah Budget 2025 at the Kedah State Legislative Assembly (DUN) at Wisma Darul Aman on Sunday (Nov 24).
Sanusi explained that the state government's only involvement in the project was the approval of land.
He added that the procedure for land approval followed legal requirements, with the premium and taxes paid.
"After that, their role is to conduct business and develop the land. Even though the project has been cancelled, it does not harm the state government because the land premium and taxes, amounting to millions, have already been paid," he told Sinar Harian.
He noted that Widad paid the land premium because it was developed by the company, which then partnered with Bin Zayed.
"That's their business move, it has nothing to do with us. I’ve said this many times, but the more I repeat it, the less people seem to understand. I’m even surprised by the attempt to find fault with us when it’s a private project.
"It’s understood that phase one is still ongoing, though slowly, but not with Bin Zayed; Widad is carrying it out themselves," he said.
Sanusi emphasised that many announced projects, including those by the federal government, fail to materialise yet are not publicised or turned into issues.
He mentioned that many projects announced by the Prime Minister did not happen, yet no one reacted angrily.
"It was not me who made the announcement but the company itself, and coincidentally it was in Kedah. Suddenly they are angry with me because it didn’t happen," he said.
On Friday, Bin Zayed International Group of Companies (BZI) confirmed its official withdrawal from the RM40bil Langkasuka project in Langkawi.
Bin Zayed International (M) Bhd managing director Datuk Seri Dr Shamir Kumar Nandy stated they decided to withdraw in 2022 to focus on more realistic opportunities with greater potential.
In 2021, Widad Business Group Sdn Bhd formed a strategic partnership with Bin Zayed to help develop the RM40bil mixed-use development known as Widad@Langkasuka in Langkawi.
On Saturday (Nov 23), Sungai Petani MP and Keadilan Kedah Youth Wing chief Dr Mohammed Taufiq Johari said Bin Zayed International LLC’s decision to withdraw from the Langkasuka project highlighted serious failures in the Kedah Mentri Besar’s administration.
He added that the project, promised as a catalyst for Langkawi’s development, is now at risk of being abandoned due to weaknesses in the state government's leadership.
