Putrajaya sets up SPV to fund MRT worth RM36 billion.

The Finance Ministry will set up a special purpose vehicle (SPV) to raise funds for the RM36 billion mass rapid transit (MRT) project in the Klang Valley, said the Land Public Transport Commission (SPAD) today.

SPAD CEO Mohd Nur Ismal Kamal however said the method of funding has not been finalised yet.

“There will be a special purpose vehicle under the Ministry of Finance which will be in charge of organising the financing,” said Nur Ismal at a media briefing here today.

“They have not finalised the type of funding. They may issue bonds or use capital market instruments,” he added.

Nur Ismal also stressed that the project delivery partner (PDP), MMC-Gamuda Joint Venture Sdn Bhd, would bear any cost over-runs.

“If there are cost over-runs, the PDP will shoulder the costs,” he said.

The largest infrastructure project in Malaysia, which will be funded by the government, is expected to transport about 60,000 passengers per hour per direction.

Selangor state govt rapped over 1Malaysia logo banner cited petty and double standard practise

Theng (left) and his deputy Kelvin Chong pointing to the Rocket United cafe signboard in SS2, Petaling Jaya


The Selangor government’s decision to ban billboard advertisements with the 1Malaysia logo has drawn flak from Barisan Nasional leaders, who described the move as “petty” and smacks of double standards.

MCA vice-president Datuk Chor Chee Heung lambasted the state government as being “petty” and “overly sensitive”.

“1Malaysia is about bringing Malaysians together by forging unity and it is a noble effort,” he said.

“While the Prime Minister is trying to unite (with the 1Malaysia concept), Pakatan is trying to divide,” said Selangor MCA deputy chairman Datuk Teh Kim Poo.

Baning 1Malaysia Logo in Selangor drew protests

The ban on the 1Malaysia logo by the Selangor government has drawn flak from the people, especially the business community, as the logo is hugely popular and accepted by all and sundry.

THE 1Malaysia concept came under attack again from the Opposition as the Pakatan Rakyat-ruled Selangor government banned the use of the 1Malaysia logo on business signs and billboards in the state.

Ronnie Liu, the controversial DAP exco for Housing and Local Govern­ment, said the logo was political and thus contravened local by-laws.

He argued that political symbols could not be used on billboard advert­isements – a ruling that has sparked uproar among the local business community.

The controversial ruling is in keeping with Pakatan’s policy to criticise and condemn the 1Malaysia concept.

People from all walks of life are using the logo as a catch phrase and to attract public attention and to get business opportunities.