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Reuters 2 minute read KUALA LUMPUR, July 15 (Reuters) - An equity deal for a planned mega project near Malaysia s capital involving the government, developer Iskandar Waterfront Holdings (IWH) and its Chinese partner will not proceed by mutual agreement, the parties said in a joint statement. The agreement on a 7.41 billion ringgit ($1.77 billion)acquisition for 60% equity in the Bandar Malaysia mixed commercial project by IWH and its partner China Railway Engineering Corp (CREC) lapsed on May 6 after a failure to meet conditions, the statement issued on Wednesday said. Bandar Malaysia was due to house the terminal for the now-scrapped high-speed rail link between Kuala Lumpur and Singapore. The project, owned by TRX City, a subsidiary of the Ministry of Finance, was initially announced in 2011, cancelled in 2017 and reinstated in April, 2019.

Kuala lumpurNajib razakEd daviesThomson reuters trust principlesIskandar waterfront holdingsChina railway engineering corpMalaysia development berhadChina railway groupBandar malaysiaRailway groupPrime minister najib razakDevelopment berhadLiz lee editingThomson reuters trustகுவாலா லம்பூர்நஜிப் ர்யாஸக்