A total of 56 development projects under the PR1MA Corporation Malaysia (PR1MA), valued at RM9.98 billion, have been cancelled.
The housing and local government ministry (KPKT), in a written reply published in the Parliament website today, said these 56 were part of the 131 projects that had earlier been planned with a total value of RM25.64 billion.
Following due diligence on PR1MA’s policies, finances and business model, it was found that the corporation had to improve its financial situation if it wanted to continue carrying out the existing projects, the ministry said.
“The evaluation done showed only 75 phases were viable to be continued,” the ministry said in its reply to Akmal Nasrullah Mohd Nasir (PH-Johor Bahru), who wanted to know PR1MA’s current postion and solutions to be taken, as recommended by an evaluation report.
The ministry said construction was now at more than 50% for all the ongoing projects. Advertising permits and developer licences (APDL) had already been obtained for these projects.