Battersea investment too high, losses incurred but recovery under way — Anwar
KUALA LUMPUR: The initial investment in London's Battersea Power Station redevelopment was too high and resulted in losses, said Prime Minister Datuk Seri Anwar Ibrahim.
Prime Minister Datuk Seri Anwar Ibrahim informed the Dewan Rakyat that the initial investment in the redevelopment of London's Battersea Power Station was excessively high, resulting in financial losses. Although progress is being made to recover those losses, Anwar acknowledged that the original investment was too large during his Prime Minister's Question Time.
The redevelopment, a 42-acre mixed-use project, has been spearheaded by a Malaysian consortium consisting of S P Setia Bhd, Sime Darby Property Bhd, the Employees Provident Fund, and Permodalan Nasional Bhd. Over £5 billion has been invested by the Malaysian shareholders to date.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
