Penang to set up SPV to issue bonds for LRT project

Penang to set up SPV to issue bonds for LRT project

The Edge Markets - Malaysia·2019-11-08 01:04

GEORGE TOWN (Nov 7): The Penang Government will set up a special purpose vehicle (SPV) to issue bonds to pay for the State’s light rail transit (LRT) project.

Chief Minister Chow Kon Yeow said the bonds will be guaranteed by the Federal Government as proposed by Prime Minister Tun Dr Mahathir Mohamad in the letter received by the State Government dated Oct 15.

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