Much-loved train journeys to Cox s Bazar likely in 2 years dhakacourier.com.bd - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dhakacourier.com.bd Daily Mail and Mail on Sunday newspapers.
The property project, which was first introduced in 2015, was once shelved by the government back in 2017 after it was abruptly terminated. On Wednesday, the Finance Ministry (MoF) and IWH-CREC Sdn Bhd (ICSB) mutually agreed to terminate the deal for the latter to buy a 60% stake in the Bandar Malaysia project that is located in the former Air Force base in Sungai Besi for RM7.4bil.
PETALING JAYA: It is back to the drawing board for the mammoth multi-billion ringgit Bandar Malaysia project, which experts believe will be resuscitated at a later date.
The property project, which was first introduced in 2015, was once shelved by the government back in 2017 after it was abruptly terminated.
Bandar Malaysia development plan
KUALA LUMPUR: The restated and amended share sale agreement for the acquisition of 60% shares in Bandar Malaysia Sdn Bhd (BMSB) has lapsed on May 6, 2021, since the conditions precedent in the agreement have not been fulfilled by the respective parties within the condition precedent period.
The deal for the sale of 60% shares of BMSB to IWH CREC Sdn Bhd (ICSB), a joint venture between Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC), was executed on Dec 17, 2019.
BMSB is wholly owned by TRX City Sdn Bhd, a 100% subsidiary of the Finance Ministry.
IWH-CREC s RM7 4 billion deal to buy 60% stake in Bandar Malaysia falls through theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Bandar Malaysia share sale agreement lapsed on May 6 thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.