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Halt to Pan Borneo project?
Published on: Friday, May 25, 2018

Putra Jaya: The Prime Minister said the Bandar Malaysia, Tun Razak Exchange (TRX) and Pan-Borneo Highway are among mega projects that will be reviewed to save the nation billions of ringgit.

Tun Dr Mahathir Mohamad, who made the announce­ment, said this was among measures being explored to reduce government expenditure as well as debts, which he reiterated have now reached RM1 trillion or more than 65pc of the GDP.

The country's financial state of affairs was the main topic of discussion at the first Cabinet meeting held since Pakatan Harapan won the May 9 polls and formed the new Government.

"But for sure, there will be some projects that we will stop, terminate or re-negotiate to reduce the cost to a level which we can afford to pay," he said.

TRX is a 28ha development by 1MDB in the heart of Kuala Lumpur, set to become a leading centre for international finance and business.

The masterplan includes a total of 26 buildings and gross floor area of 21 million sq ft spread across office, residential, hotel, retail, food and beverage and cultural offerings.

Bandar Malaysia is a 200ha mixed-use, transit-oriented deve­lop­ment also by 1MDB. It is planned as a central transport hub, including the Kuala Lumpur-Singapore High Speed Rail, MRT, KTM Komuter and Express Rail Link.

The Pan-Borneo Highway is a road network linking Sabah and Sarawak with a length of 2,000km it was orignally put at RM11 billion but has since balloned to RM17 billion.

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