This is part of plans to raise substantial cashflow, while reducing its risk exposure, seeing it has another 507 acres of land to reclaim over a period of time.
Going forward, E&O said outlook for the property sector remains challenging with continuing tight mortgage financing, coupled with other global uncertainties.
"Whatever the amount, it made no difference because the government did not earn a single sen. There was no revenue from this agreement. It was lopsided deal signed by the previous government."
"Our priority is to reduce the government's expenditure, not increase our borrowings."
"I have nothing to object because we want to learn the truth. So, now if PAC wants to reopen (the) 1MDB (probe), it is their right but don't go on a fault-finding mode," Najib told reporters at the Parliament lobby today.
The project, tasked to China Communications Construction Co, has been suspended and is under review; the discussion with Chinese parties after Council of Eminent Persons head Tun Daim Zainuddin's recent visit to China is showing results.
"We know Malaysians love their roti canai, nasi goreng, kuey teow, milo ais and dining outside with families and friends."
"I just hope that the process is fair and that he has a fair trial and say in proceedings."
"We are stuck because of this so we cannot re-tender the project or else we have to pay them compensation."
Najib: Of course, I have no knowledge of it (the arrival of the yacht). I have not been onboard. I did not know about it until it came out in the press.