SPECIAL FOCUS
Acronyms-Conversant But wait, this is no empty talk. There are roadmaps and there are roadmaps bringing us there. And their names are quite a mouthful. Hence, the acronyms, which don’t quite help matters but which Malaysians (and even foreigners) will eventually glibly say out during most occasions. For property investors and those in the property industry, all you really need to know is that there are 12 NKEA (not IKEA, but NKEA) which stands for National Key Economic Areas) under the Economic Transformation Programme (ETP). ETP is the roadmap I was referring to that’s supposed to transform us into a First World Nation (no acronym here). One of the NKEAs, and this is the only one you need to remember is Greater Kuala Lumpur/Klang Valley. For those still unsure, Greater KL is the same as Klang Valley, and includes Kuala Lumpur and its surroundings. Think Greater London. Why Greater KL? Because wealth is generated in concentrated urban cities, says Ho Chin Soon. Tokyo, Paris and Greater KL generate one third of their countries’ wealth.
iProperty.com Malaysia MAY 2011
Under each NKEA, there are projects identified to achieve the lofty vision. These projects, named Entry Point Projects (EPP) number over 140. You only need to know 9 of them, all of which come under Greater KL NKEA. There are: 1. Attract 100 world’s top multinational companies (MNCs) 2. Attract high-skilled immigration 3. Connect to Singapore with high-speed rail 4. Build MRT: An integrated urban rail system 5. Rejuvenate the river of life 6. Create a greener KL 7. Establish iconic places 8. Pedestrian network 9. Solid waste management The biggest and most expensive of these is of course the MRT. Next is the high speed rail to Singapore. The government entity tasked with ensuring the successful execution of the ETP and the NKEA is aptly named PEMANDU which is DRIVER when translated into English. In fact PEMANDU stands for Performance Management & Delivery Unit.
The entity tasked with ensuring the successful execution of the MRT is the Land Public Transport Commission (SPAD) while Syarikat Prasarana Negara Berhad (SPNB), which is 100% owned by the Ministry of Finance Incorporated is the MRT project and asset owner of all the assets which includes all stations.
Blue Line confirmed At print time, word was out that the Environmental Impact Assessment (EIA) report for the three-line KL MRT has been approved, according to Syarikat Prasarana (SPNB). This means the MRT will be on track to start construction on July 8. The alignment of the line will be finalized in June. If all goes well, The Sungai BulohKajang (MRT) line aka Blue Line will start service in January 2017. That’s almost 6 years from now. The Blue Line is 51km long and has a total of 35 stations, including eight underground stations in central Kuala Lumpur.
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