PETALING JAYA: An economist has discounted fears about a Chinese firm’s stake in Bandar Malaysia, saying that the property would not be completely owned so long as there were policies in place for Malaysian control over the sale of land.
However, Barjoyai Bardai, a lecturer of Universiti Tun Abdul Razak, said that the property would be in the control of Chinese firms as they were the appointed developers.
Government-owned 1Malaysia Development Bhd has sold a 60 percent stake in Bandar Malaysia, which is being developed in Sungai Besi on land formerly used for an air base. The 60 percent stake was sold to a consortium comprising Malaysian-controlled Iskandar Waterfront Holdings and China Railway Engineering Corporation.
Barjoyai said “there are many other projects in Malaysia where both the developers and contractors are Chinese. This is a global phenomenon.”
If Bandar Malaysia was not developed by developers from China, it would be developed by Malaysian Chinese developers. “There is really no difference. The only difference is that we might see it as being in the hands of another country because China’s seemingly capitalist economy is still government-controlled. The government has many voices and powers. This is a strategy to balance out the American-controlled global economy,” he said.
Barjoyai’s remarks came in response to the views of former Malaysian diplomat Dennis Ignatius, who believed that the Bandar Malaysia development would lead to an expansion of Chinese economic power on to Malaysian soil.
However, Barjoyai pointed out that China has been expanding its influence in places like Africa. “This could possibly be China’s global agenda, and how badly it affects us depends on how we define the development policy,” Barjoyai told FMT.