GEORGE TOWN: A consortium of three companies has rebutted Penang Development Corporation's (PDC) arguments that it failed to comply with the requirements in its bid to develop Batu Kawan Industrial Park 2 (BKIP2).
The consortium which includes IJM Properties Sdn Bhd (a subsidiary of IJM Corporation Berhad), Aspen Vision All Sdn Bhd (a subsidiary of Aspen (Group) Holdings Ltd), and Mettiz Capital Sdn Bhd said its proposal aligned closely with the objectives and guidelines of the request for proposal request (RFP).
"Unlike an Invitation to Tender (ITT), a Request for Proposal (RFP) encourages innovative and customised solutions from bidders while allowing for flexibility in enhancements that do not compromise project goals.
"The consortium has prioritised quality, feasibility, and sustainability in its approach, suggesting optional variations that support the broader aims of the RFP. Despite our earnest request for a face-to-face meeting to clarify our submission, this opportunity was not granted," the consortium said in a statement.
The consortium added that it had adhered to the 99-year leasehold requirement and offered RM818mil.
"While we suggested freehold status as an optional enhancement to generate additional revenue for the state, this was never a condition of our proposal. We remain committed to proceeding with the leasehold terms, and any suggestion that we mandated freehold status misrepresents our intent," the consortium added.
The consortium said the proposed flexibility in equity restructuring among its original shareholders aimed to optimise efficiency and ensure accountability.
"Any changes involving external partners would require prior approval from PDC, which is in line with standard governance practices," the consortium said.
The consortium added that it has no intention of' flipping' the project or undermining its integrity.
"Furthermore, our proposal for a fully industrial development plan, recognising the site’s potential and evolving investor demands, departs from the RFP's specified 90% industrial and 10% mixed-use ratio.
"We believe that a fully industrial plan, which includes a 400-acre solar farm, aligns better with Penang’s ESG priorities and long-term goals.
"This strategy positions Penang as an attractive destination for multinational corporations seeking sustainable industrial solutions while also complementing existing mixed-use elements in BKIP1, thereby establishing BKIP2 as a model for sustainable development," the consortium added.
The consortium said its proposal guaranteed a cash return of RM818mil, fully compliant with the RFP's terms.
"The RFP's guidance allows flexibility in cash returns and payment timelines, and our offer includes a shorter payment period of 42 months, enhancing PDC's cash flow benefits.
"Claims of non-compliance with the RFP are unfounded," the consortium added.
Additionally, we propose quarry operations to facilitate efficient landfilling and generate extra revenue for PDC, thereby reducing costs and enhancing stakeholder value. Our infrastructure development plan aligns with established practices, with PDC providing basic infrastructure up to the land boundary. The Consortium will independently finance and construct all necessary infrastructure within the site, ensuring adherence to local regulations.
Prior to this, Penang Chief Minister Chow Kon Yeow said that PDC unanimously rejected the recent bid because allowing it would violate principles of good governance and transparency.
PDC has announced plans to issue a fresh Request for Proposal (RFP) with updated conditions, reinforcing its commitment to ethical practices in project procurement.
