The cancellation of the Bandar Malaysia deal is final and news reports suggesting otherwise are "erroneous", said Prime Minister Najib Abdul Razak.

The Star Online on Monday reported Chinese Prime Minister Li Keqiang nudged Najib to retain the deal with the consortium consisting of Iskandar Waterfront Holdings (IWH) and China Railway Engineering Corporation (CREC).

"Contrary to some erroneous reports, the termination of the previous agreement is final, and it will not be reinstated.

"The selection process for the master developer will involve very strict criteria, including a proven track record, speed of delivery, content creation and the final capability to deliver a project of this scale.

"The highest possible value will be sought to ensure that the best deal for the taxpayer is obtained," he said.

Najib added that the Ministry of Finance will fully own Bandar Malaysia to "ensure that the nation and the people benefit to the greatest extent possible"...