state-of-the-art integrated infrastructure and IT system; and
• sophisticated and efficient transportation systems with an emphasis on public transport
However, due to the late 1997 Asian Financial Crisis, the undertaking was deemed no longer viable and necessitated the Government taking over of the 55% and 15% stake in Cyberview shares held by SHSB and NTT respectively via the Ministry of Finance Inc (MOF Inc). The transaction gave MOF Inc a 70% stake and Cyberview has remained a government-owned company ever since. Cyberview then entered into an agreement with SHSB with shareholders comprising Country Heights Holdings Berhad (CHHB), Landmarks, Menara Embun (an MKLand Controlled Company) and Renong (now UEM World) with equal shares of 25%; granting SHSB the right to develop Cyberjaya as the master developer, while Cyberview became the landowner. In 2004, CHHB and Landmarks sold their equity interest in SHSB to MKLand-controlled companies, namely Modern Eden (12.5%), Impressive Circuits (12.5%) and Virtual Path (25%), resulting in MKLand-controlled companies becoming the majority shareholder of SHSB. Due to SHSB's shareholders' reluctance to inject their own reserves into SHSB and the company's practice of awarding contracts at high premiums, SHSB had to take up substantial loans. This has led to its gearing ratio ballooning to an unsustainable amount. Cyberview was then asked by the Government to rescue the ailing SHSB that led to Cyberview's expanded role.
Cyberview's role grew to include implementing various development and government initiatives, while SHSB carried on its role as the master developer. In addition to this, Cyberview was also tasked to undertake city-wide maintenance and spearhead investor interface and community-centric programmes in Cyberjaya.
Physical development
Spanning an area of about 28.94 square kilometres (7,000 acres), the town is the nucleus of the Multimedia Super Corridor
