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As cash-strapped developer Country Garden battles to stave off default, its sprawling $100 billion development in Malaysia has come under scrutiny from creditors even as the Southeast Asian nation dangles financial incentives to lure investments. Billed as a paradise with turtles and white-sand beaches, Country Garden's Forest City development in the state of Johor next to Singapore aims to house 700,000 people across 7,000 acres on four reclaimed islands upon completion in 2035. Seven years in, Country Garden has invested 20 billion ringgit ($4.3 billion) in the project, Forest City said, a far cry from the initial $100 billion plan.

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