PETALING JAYA: Four companies and/or consortia have been shortlisted and approved by 1Malaysia Development Bhd (1MDB) as potential development partners in the 486-acre Bandar Malaysia project.

CH Williams Talhar and Wong (WTW), the transaction adviser for the Bandar Malaysia Request for Proposal (RFP), said in a statement yesterday that the four preferred bidders were shortlisted from the 12 proposals submitted at closing date of the RFP on Aug 28, 2015.

It said the proposals were from domestic private developers, government-link companies and foreign parties, either submitted independently or as a consortium.

“The proposals were assessed and evaluated by WTW and a shortlist was presented to 1MDB board of directors for approval. The final four bidders will undergo a detailed due diligence, clarification and negotiation process with 1MDB Real Estate and WTW before a final recommendation is made to the 1MDB board of directors.”

In the same statement, WTW deputy managing director Danny Yeo said the agency was working to finalise Bandar Malaysia’s development partners by the end of October.

“We then aim to execute definitive legal agreements latest by the end of November 2015.”