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Monday, August 6, 2012

Kwasa Land: No plans to partner Dijaya Corp

PETALING JAYA: Kwasa Land, a wholly-owned unit of the Employees Provident Fund (EPF) and master developer for the redevelopment of Rubber Research Institute of Malaysia (RRIM) land in Sungai Buloh, has denied talk that it is partnering Dijaya Corp Bhd.

In a statement released yesterday, Kwasa Land stated that a newsreport titled "EPF and Dijaya may develop RRIM Land" published two days ago was unfounded.

The company reiterated that so far, it has not selected any property developers as partners for the RRIM re-development.

"We view such speculative stories with concern as there will be a clear process for developers to qualify as potential partners for this development," said Kwasa Land chief executive officer Mohd Lotfy Mohd Noh.

"We will announce our pre-qualification process shortly, inviting developers to submit their credentials for short-listing by the master developer," he added.

Kwasa Land was established in September 2010 to manage the EPF's multi-billion property development investments in the country.

The government has asked Kwasa Land to incorporate an integrated transportation system into Sungai Buloh, like that of KL Sentral, into the new township and link it via mass rapid transit MRT to the rest of Klang Valley.

By Business Times

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