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Thursday, June 24, 2010

PNB to study plan for redevelopment of KL's Kampung Baru

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) will conduct a study on the Government’s plan to redevelop Kampung Baru.

President and chief executive officer Tan Sri Hamad Kama Piah Che Othman said the study was to determine whether the redevelopment would yield competitive returns to PNB following the Government’s proposal to appoint PNB to undertake the redevelopment.

Two other Government-linked entities – Pilgrims Fund Board (Tabung Haji) and Pemodalan Hartanah Bhd – were also offered the job.

On Feb 6, Prime Minister Datuk Seri Najib Tun Razak announced the 122.93ha Kampung Baru would be redeveloped under a concept that would not require relocation of the residents and landowners.

He said the residents and landowners would have the right to determine the form of development to suit their requirements.

Najib had said Federal Territories and Urban Well-Being Minister Datuk Raja Nong Chik Raja Zainal Abidin had been asked to prepare a Cabinet paper on the redevelopment.

The Government also proposed to set up a special body to be run by government trustees without private sector participation to ensure Kampung Baru residents were assured of the redevelopment for their interests.

By Bernama

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