Don't Twist Facts On Merdeka Heritage Project - DPM

KUALA LUMPUR, Nov 1 (Bernama) -- Deputy Prime Minister Tan Sri Muhyiddin Yassin Monday urged the people to refrain from twisting the facts on the Merdeka Heritage Project to be developed by Permodalan Nasional Berhad (PNB).
He pointed out that the project was not funded by the government, adding that the people should not underestimate the wisdom of investment institutions in developing projects that involved the construction of a 100-storey tower.
"Certainly they (PNB) are smart, we should not look down on the wisdom of PNB which has existed for so long and provided lucrative returns to its shareholders.
"I think no one should spin (the facts) unless he has ill intention and perceive it as a project that does not benefit him," he told reporters after opening the BioMalaysia Exhibition and Conference 2010, here today.
Muhyiddin said the project was not merely an iconic project but gave benefits and yielded returns to investors as planned by PNB before developing the mega project. He said those who claimed that the project was a waste because it used public funds did not understand the rationale and planning made by PNB.
"I'm rather disappointed when there are quarters who see the project as a waste. This is not public money but funds belonging to PNB which manages millions of shares. I believe those who do not understand (the project) do not get detailed explanation," he said.
Thus, he called on the PNB management to make clarifications on the project and its direction to the media so that the media could report correct facts.
"I want the PNB management to detail the PNB's future planning. Such plans were probably not explained and thus gave the impression that it is a project that does not bring in profits," he said.
The Merdeka Heritage Project was announced by Prime Minister Datuk Seri Najib Razak when tabling the Budget 2011 last month and would be developed beside the Merdeka Stadium and Stadium Negara within a 10-year period.
Both the stadiums would be retained as heritage buildings.

tunku : the opposition is twisting the facts that tax payers money are involved in this project.they are not telling people the real facts. pnb should explain in detail about the project which is not only building the tower but also to develop the surrounding area into a new business hub in kl.people should be proud that pnb is investing in this project in our country rather than investing abroad. just look at klcc.lots of people make "noise" at the beginning but now everyone is proud of it except for few lots which will never appreciate and just for the sake of opposing. again we hope that pnb will explain to people in detail about this project comprehensively.