KUALA LUMPUR • Malaysia's Ministry of Finance yesterday issued a request for proposal (RFP) for companies interested in taking part in the development of Bandar Malaysia, a RM12.3 billion (S$4 billion) property project on the fringes of Kuala Lumpur that will house the terminus for the high- speed rail link between Singapore and Malaysia.

In a surprise move in May, the government booted out a consortium comprising Malaysian and Chinese companies that were slated to buy a majority stake in the project.

The government said it would instead retain full ownership of the project and invite expressions of interest for the role of master developer.

Under the new RFP, interested companies must be in the Fortune 500 list and meet requirements for "local content", said Finance Ministry secretary-general Irwan Serigar Abdullah, who is also chairman of TRX City, which owns the Bandar Malaysia land.

When asked whether the developer had to be a foreign firm, he said the RFP was open to all.

An interested company must also be an affiliate of a firm that has generated cumulatively over the last three years no less than RM50 billion in revenue from its entire value chain of real estate and associated businesses, and have experience in international quality real estate development projects, the ministry had stipulated in an earlier statement released on June 23.

"The proposer also must be able to demonstrate how their (plan) focuses and places emphasis on the key themes of serving people and the national interest of Malaysia," the statement added.

The RFP can be obtained from the ministry's secretary-general's office.

THE STAR/ASIA NEWS NETWORK