Pahang fund to help develop Malay reserve land

2/24/2009 — The Star
The Pahang East Coast Economic Region Development Council (ECERDC) office has agreed to set up a property trust fund to develop strategic Malay reserve land, said Mentri Besar Datuk Seri Adnan Yaakob.
He said about 840ha of Malay reserve land had been identified for the purpose, adding that a mechanism to have joint ventures with the private sector could be established without having to revoke the Malay reserve status.
Adnan said the council would ask for RM200mil from the federal government to start the trust fund.
“We need to work out something as banks normally award less than the normal loan amount for Malay reserve land, by about 50% to 60%,” he told reporters after the first meeting of the state Implemen­tation and Coordination Committee at the newly-opened state office in Sri Kuantan Square here yesterday.
The committee was also briefed on the progress of development projects in the state.
Adnan said the latest project was the Tanjong Agas Oil and Gas and Maritime Industrial Park.
A total of RM420mil would be requested from the federal government to build infrastructure facilities there.