Lim said the renegotiation of the project’s terms had allowed Malaysia to secure RM4 billion worth of benefits.
“The wild allegations were made to confuse the people and divert attention from the success of improving the contract terms and securing benefits worth RM4 billion for the country,” he said in a statement. Other improved terms, he said, included the project’s deposit of RM741 million with an additional advance payment of RM500 million instead of the RM741 million alone; and a 50:50 dividend payment between the project’s developing consortium Iskandar Waterfront Holdings and China Railway Engineering Corp, and the government-owned company TRX City Sdn Bhd.
“This has resulted in a new Bandar Malaysia project that gives additional benefits worth RM4 billion.”
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