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Minister in the Prime Minister's Department Abdul Rahman Dahlan today dismissed a statement by Semporna MP Mohd Shafie Apdal that the government had sold 60 percent of the equity in Bandar Malaysia to China.

He said the government and the people of Malaysia actually owned 76 percent of the total equity in the urban development project.

The Finance Ministry held 40 percent of the equity, he said.

"Of the remaining 60 percent, 36 percent is owned by Iskandar Waterfront Holdings while 24 percent was sold to China Railways.

"So 40 percent (held by Finance Ministry) added to the 36 percent held by IWH means the actual total equity held by the government or people is 76 percent," he told reporters at the lobby of Parliament.

IWH is a public-private partnership company between the Johor government through Kumpulan Prasarana Rakyat Johor, which owns 40 percent of the company, and Credence Resource Sdn Bhd which holds the remaining 60 percent.

Yesterday, Shafie, the former rural and regional development minister, alleged in the Dewan Rakyat that the government sold 60 percent of Bandar Malaysia equity to investors from China, and sought clarification on the matter.

Rahman said Shafie's statement was aimed at confusing the people.

He also questioned former second finance minister Ahmad Husni Hanadzlah's statement that the arrears in payment on the sale of equity in Bandar Malaysia to a Chinese consortium would be received in 2020.

"I believe the negotiations were held by the Finance Ministry when he was still a minister. The agreement was reached in accordance with the situation then, and it does not mean that receiving payment in 2020 makes it a bad deal," he said.

- Bernama

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