RMAF Relocation Cost Remains At RM2.7 Billion, Says 1MDB

1Malaysia Development Bhd (1MDB) today reiterated that the relocation cost of the Royal Malaysian Air Force (RMAF) base to the government has been and remains at RM2.7 billion.

“It has always been public knowledge, since 2012, that the reimbursement to 1MDB would be in the form of land (RM1.6 billion) and cash reimbursement (RM1.1 billion),” it said in response to recent statements by Pandan Member of Parliament Rafizi Ramli.

1MDB said there was also no question of national security being impacted as the turnkey contractor and sub-contractors remained the same.

The strategic development company contracted Perbadanan Perwira Hartanah Malaysia (PPHM), a wholly-owned subsidiary of the Armed Forces Fund Board, as the sole turnkey contractor to undertake certain construction work.

PPHM and over 50 Bumiputera sub-contractors are and will remain as the sole turnkey contractor and sub-contractors regardless of the eventual equity ownership of Bandar Malaysia, it said in a statement.

On the Bandar Malaysia sukuk, 1MDB said the cash amount raised was RM1.5 billion and not RM2.4 billion as claimed by Rafizi.

The utilisation of the proceeds are in accordance with the terms and conditions of the sukuk issuance and no default has arisen under the sukuk documents by 1MDB executing a share sale agreement with the IWH-CREC Consortium.


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