Permodalan Nasional Berhad (PNB), Malaysia's largest fund manager, will conduct a study on the government's plan to redevelop Kampung Baru, the only Malay heartland in metropolitan Kuala Lumpur.
President and chief executive officer Tan Sri Hamad Kama Piah Che Othman said the study is to determine whether the redevelopment would yield competitive returns to PNB following the government's proposal to appoint PNB to undertake the redevelopment.
Two other government-linked entities -- Pilgrims Fund Board (Tabung Haji) and Pemodalan (rpt Pemodalan) Hartanah Berhad -- were also offered the job.
On Feb 6, Prime Minister Datuk Seri Najib Tun Razak announced the redevelopment of 122.93ha Kampung Baru under a concept that would not require relocation of the residents and landowners.
He said the residents and landowners would have the right to determine the form of development to suit their requirements.
- Bernama
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