KUALA LUMPUR – The Federal Territories Ministry will consider establishing Mayor Incorporated to facilitate the implementation and development of projects around the capital, said its minister, Tan Sri Annuar Musa.
He said the body would administer and manage assets and investments owned by the Kuala Lumpur City Hall (DBKL) in carrying out business-related activities.
He said several Acts need to be introduced and amended, among others, to overcome legal constraints for this purpose.
“DBKL can create (Mayor Incorporated), just like MB Incorporated established in several states.
“This is to enable the mayor (of Kuala Lumpur) to carry out joint-venture projects in an ordinary manner and, thus, speed up the urban renewal process,” he said in a talk show hosted by the ministry streamed live on Facebook today.
The programme was held in conjunction with the virtual launch of the Kuala Lumpur Urban Renewal Guidebook by Annuar.
On the Implementation of Kuala Lumpur Urban Renewal programme, Annuar said 30 areas have been identified for redevelopment, among them the Sri Negeri Sembilan Public Housing (PA) and Sri Labuan People's Housing Project (PPR).
He said this is to ensure a better quality of life among city folks by allowing them to live in bigger, more comfortable residences.
“Through this, they will also own new residences that will have better asset value in the future without additional cost.”
Annuar said the government also offered several incentives to encourage the involvement of the private sector in the project, which has been proven to benefit the community, as seen from its implementation at Kerinchi Residence. – Bernama, January 29, 2021
