Wee denies saying Bandar Malaysia and TRX projects’ GDV equals to RM180b profit

Datuk Seri Wee Ka Siong speaks to reporters in Parliament Kuala Lumpur March 28, 2019. — Picture by Hari Anggara
Datuk Seri Wee Ka Siong speaks to reporters in Parliament Kuala Lumpur March 28, 2019. — Picture by Hari Anggara

KUALA LUMPUR, April 22 — MCA president Wee Ka Siong today denied that he had said the combined RM180 billion in gross development value (GDV) for the Bandar Malaysia and Tun Razak Exchange (TRX) projects are direct profits.

“When did I say the entire RM180 billion is direct profit?” Wee said in a statement posted on his Facebook.

Earlier today Damansara MP Tony Pua chided Wee by telling the Ayer Hitam MP that the government did not “own” the GDV, after the latter claimed that the GDV of both projects was “more than enough” to settle state investment firm 1MDB’s debt.

Pua said he was surprised by how Wee, an engineer with a doctorate, could mistake GDV as profits which could be used to repay 1MDB’s RM31 billion debt.

Pua said that the sale of both assets would only yield between RM12 billion to RM15 billion.

Pua also claimed that the previous Barisan Nasional (BN) administration sold the Bandar Malaysia and TRX land to 1MDB “for a song”.price to RM44 billion?”

Wee then questioned how much is the land sale of Bandar Malaysia and what is the amount of taxes collected from these two projects of GDV of Rm180 billion over the course of its development?”

“If these projects are not beneficial then why continue them?” Wee asked.

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