GOVT WANTS TO MAXIMISE RETURNS FROM EXISTING ASSETS, SAYS DPM

KUALA LUMPUR, Nov 5 (Bernama) -- The government intends to maximise returns from all existing assets including yet-to-be developed land, a new move to generate additional income and to stimulate more vigorous local economic activities, Deputy Prime Minister Najib Razak said Tuesday.

Among the assets are land at strategic locations that can be developed, he
said.

"In this regard, the government plans to use a new method, by calling for
open tenders, which involve the private sectors and government-linked companies
to develop the land," he said when winding up the debate on the 2009
Budget.

Najib, who is also Finance Minister, said the government would determine
the
criteria and the scope of the development plan which would be stipulated in the
terms of offer.

"If this development concept can be implemented, the government is expected
to earn big revenue," he said.

The Deputy Prime Minister said the government would identify assets in
the
form of parcels of land in strategic areas which could be offered under this
initiative.

"The development need not necessarily be "concrete jungle," he said, adding
that it can also be green development such as development with parks.

"We will tender out based on the development concept and plot ratio. The
private sector and GLCs are encouraged to put forward their request for
proposals and we will evaluate them," he told a press conference later.

Najib said these were among the ways for the government to generate new
income.
"It is just a question of what kind of creative ideas (that be put into)."
-- BERNAMA