Permodalan Nasional Bhd (PNB), which will be developing the RM5 billion Warisan Merdeka landmark, says it is well-positioned to finance the integrated development project from its own internally generated funds.

azlan "However, we can look for loans from the market as long as we can maximise our returns," its president and group chief executive Hamad Kama Piah Che Othman told a media briefing today.

He also dismissed speculation that the project would be funded by the government or sourced from its unit trust funds.

PNB, an investment holding company, currently manages funds worth more than RM140 billion. It has substantial interest in over 300 listed and unlisted companies.

Plans for the project, comprising three phases to be fully completed by 2020, were unveiled by Prime Minister Najib Razak during last week’s budget speech.

The integrated development project located within the enclave of Stadium Merdeka and Stadium Negara, will comprise a 100-storey tower, with construction to start next year.

It is expected to be completed in 2015.

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