KUALA LUMPUR: Roping in China's Dalian Wanda Group Co as an investor in the Bandar Malaysia project is a catalyst for more international investments in Malaysia, Starfish Training Sdn Bhd director Warrick Singh said today.
"The deal will potentially raise confidence among international investors to get involved in Malaysian mega projects," he told the New Straits Times.
The property expert said Bandar Malaysia could also benefit from the Chinese government’s 'capital control' measures and its stringent anti-corruption laws, if it manages to land Dalian as an investor.
"The deal will have to be above board. A public announcement needs to be made to shareholders, as Dalian is a public company.
"There will not be any credibility issue, as the company seeks the best value rather than price, for its shareholders" Warrick said.
In addition, the sealed deal will have a major ripple effect across the board, including in terms of job creation.
Warrick said while the deal can be a long way down the road, the government should ensure that the development of Bandar Malaysia stays on track.
Ho Chin Soon Research chief executive officer, Ishmael Ho, said the development of Bandar Malaysia should not affect the construction of the High Speed Rail (HSR) and its rollout timeline.
"This is because HSR is a good infrastructure project, and any delays will affect the confidence of investors and other stakeholders," he said.
It is expected that Bandar Malaysia will be one of the HSR’s stations.
Yesterday, Dalian, a multinational conglomerate founded by Wang Jianlin, China’s richest man, expressed interest in participating in the development of Bandar Malaysia.