Armed with federal guarantee, Penang eyes bonds to fund RM46b transport blueprint
GEORGE TOWN, Nov. 7 -- The Penang state government will form a special purpose vehicle (SPV) to issue bonds for funds to pay for the state's massive transportation plans, Penang Chief Minister Chow Kon Yeow (DAP - Padang Kota) said today.
He said the prime minister has written to confirm that the federal government will provide a sovereign guarantee for bonds issued through the state's SPV to raise money for the RM46 billion Penang Transport Master Plan (PTMP).
"With a guarantee from the federal government, we have started discussions with banks on the issuance of bonds to fund the project," he said in reply to a question by Ong Khan Lee (PKR - Kebun Bunga) at the state legislative assembly today.
He added that Penang would not have be...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.