KL PWTC project may be renegotiated or sold, says Zahid

UMNO AGM | Umno is exploring the options in the development of 70-storey tower Kuala Lumpur Putra World Trade Centre (KL PWTC)  which will house the party’s new headquarters.

In a press conference today, Umno president Ahmad Zahid Hamidi said the party may either renegotiate the project with a new partner or sell it to a third party.

"We have few options and we had discussed with the developers. It is either renegotiate with a new partner, have a joint venture or we sell it to a third party," he said.

It was reported by the New Straits Times on Sept 26 quoting Zahid as saying that the project, which will be built at the Putra Bus Terminal site, was put on hold until the negotiation completed.

Umno announced the project during its 70th anniversary in 2016.

The KL PWTC will house offices, a six-star hotel with 250 rooms, a two-storey shopping podium, a mosque that can accommodate a congregation of 5,000 people at any one time and restaurants, reported NST.

Earlier today, Zahid told Umno delegates that the party had endorsed him to immediately get back assets from the trustees who are holding them.

"The recovery of the assets will be brought to the management committee and presented to the supreme council in a transparent manner," he added.

After reading a report on party's assets and liabilities, he said Umno assets are not worth billions as some had perceived. -Mkini