HRH Sultan of Johor Tuanku Sultan Ibrahim Ibni Almarhum Sultan Iskandar announced the cancellation of the mega ambitious RM 22 billion project for Mersing, Laguna Mersing. he cited that the developer Radiant Starfish development Bhd failed to raise the RM 200 million paid up capital, as stipulated by the Johor State Government.
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Sunday September 9, 2012
Johor Ruler: Mersing Laguna developer failed to fulfil
condition
By NELSON BENJAMIN
nelson@thestar.com.my
MERSING: The RM22bil Mersing Laguna project has been
cancelled because the developer failed to fulfil a condition in the agreement,
announced Johor Ruler Sultan Ibrahim Almarhum Sultan Iskandar.
He said the developer, Radiant Starfish Development Berhad,
had failed to raise the paid-up capital to RM200mil within six months as
required under the agreement signed on Feb 25 this year.
“Owing to the failure, the project is hereby cancelled,” the
Sultan said, adding that he himself had performed the ground-breaking ceremony
for the mega project on April 14.
The project was to have involved the construction of hotels
and resorts, a marina, a water theme park and shopping malls. It was to also
involve land reclamation to create three man-made islands.
Heads held high: Sultan Ibrahim walking past a line-up of soldiers
at the Special Forces anniversary day celebrations at Kem Iskandar in Mersing.
— Bernama
The first phase was to have been completed in seven years.
The Sultan said he would monitor all development in Johor to
ensure they were successfully carried out and benefited the people and state.
Meanwhile, palace officials confirmed that Radiant Starfish
Development Bhdchief executive officer Ungku Safian Abdullah died on Friday in
Kuala Lumpur from health complications.
In his speech at the Special Forces anniversary day
celebrations at Kem Iskandar here yesterday, the Sultan also reminded arms
suppliers, including retired army personnel and generals, not to raise the
prices of equipment supplied to the armed forces.
source: bigdogdot.com
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