Malay Agricultural Settlement says Kg Baru redevelopment a no go, citing financial issue

KUALA LUMPUR: The proposed redevelopment of Kampung Baru here will likely not materialise, says Malay Agricultural Settlement (MAS) honorary secretary Shamsuri Suradi (pic).

He said that this was due to the government not having enough funds to finance the project, that was estimated to be worth around RM10bil.

He said that the matter was revealed to him by Federal Territories Minister Tan Sri Annuar Musa, who took over the ministry from Khalid Abdul Samad following a change in the Federal Government.

“MAS was told that there was a difference in terms of the number of landowners who had agreed to the plan that was reported by the previous government compared to the information that was received by the present government,” he said.

Shamsuri said any development of the Malay enclave must be done in stages and incorporate feedback from all the landowners.

He was speaking at a press conference held at the Dewan Orang Ramai MAS Kampung Paya, Jalan Raja Muda Musa, Kampung Baru on Sunday (June 21).

Shamsuri said MAS was not against development but stressed that the multiple ownership issue must first be resolved before any plan could be undertaken.

The ministry, under Khalid, had announced on Sept 21 last year of the redevelopment plan for the enclave, that involved the government buying off the land plots to kickstart the project.

Landowners were offered RM850psf and could choose among four options – cash compensation, ownership of a completed unit in the project, a combination of the two or to become a shareholder in the project.

The offer was then revised on Oct 25 to include an addition of RM150, in the form of shares in the special purpose vehicle that would be set up for the project.

Landowners would also be offered a 15% discount should they opt to buy a unit in the project.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s