 KUALA LUMPUR, Feb 19 (Bernama) -- Universiti Malaya (UM) said today it has submitted a proposal to the Ministry of Higher Education to develop under-utilised land of 27.5 acres (11 ha) out of 900 acres (360 ha) of its main campus land.
The successful completion of the development project is expected to provide UM with a minimum income of RM312 million or the land value of RM200 million plus a share of the developer's profit, whichever is higher, UM said.
It said in a statement that the Vice Chancellor, Datuk Rafiah Salim, on behalf of the university's Board of Directors (UMBD) and the university, sought the approval of the Minister on Jan 25 for the development project.
The project, under a private-sector initiative, will be undertaken by a consortium by the name PPC-MINT-GLOMAC.
PPC-MINT-GLOMAC, a result of a merger of two companies, was recommended by Colliers International Property Consultants Sdn Bhd, which the university had appointed for an independent assessment.
The two companies were from the three shortlisted by Colliers International to make presentations to UM Holdings Sdn Bhd Board of Directors (UMHBD)on Sept 27, 2007. Initially, eight developers were invited to submit proposals for the development but only five submitted proposals.
Colliers International was appointed by UM Holdings, a wholly-owned subsidiary of UM that was incorporated in line with the government's plan for public universities to be financially independent.
UMBD has appointed Datuk Seri Panglima Mohd Annuar Zaini to the board of UM Holdings and to chair with the aim to fulfil the corporate aspirations of the university.
UMHBD also comprises Emeritus Professor Tan Sri Dr Augustine Ong, Annuar Mohamad, Azhar Harun and Professor Dr Muhammad Zakaria.
Among the roles of UM Holdings is to plan, identify, explore, conserve, develop and enhance the university's assets.
The university disclosed that UM Holdings had received many proposals for various types of development and projects. Several parcels of land were identified, and the 11 ha of land on Lot 10476 were chosen.
The university said the PPC-MINT-GLOMAC consortium, which made a presentation to UMBD on Oct 9, 2007, drew attention to the presence of the proposed University of Malaya Alumni Association (PAUM) clubhouse and the PALAPES (Reserve Officer Training Unit) camp on the land to be developed.
"This will affect the Master Plan of development of the consortium in relation to the land.
"UMBD acknowledged the concern of the consortium and recognised the need for UM to obtain optimum benefit to all in regard to the development of the land.
"With this in mind, UMBD recognised that both the PALAPES camp and PAUM's clubhouse need to be relocated to sites to be identified by UM," it said.
It also said that on Dec 13, 2007, UMBD said that subject to agreement by PAUM, the site for the building of PAUM's clubhouse and the PALAPES camp will be relocated to sites identified by UM.
"UM gives the assurance that this development will be transparent and all processes and procedures will be observed, and decisions made will be based on independent professional advice.
"Evaluations and recommendations are made by UM Holdings and UMBD but the final approval rests with the Government," it added.
 |
The Blogs 
