Developer Memang Perkasa Sdn Bhd had allegedly failed to comply with one of the terms and conditions of the development order, namely the implementation of a communication strategy.

Its strategic Kuala Lumpur location and incoming MRT stations keeps it desirable and full of potential.

It can be revisited in future, said Lim Guan Eng.

The 688km-East Coast Rail Link is one of several mega projects being reviewed.

Merdeka Palace Hotel and Suites was bought at an inflated price in 2014, according to MACC investigations.

If the funds are not returned after a certain time, the MoF will own the building.

“Many people in Iskandar and the rest of Johor will be disappointed if the HSR is cancelled, as the economic impact of the HSR is large.”

According to him, the project – which will come up on 81ha of reclaimed land at the west of the island – will be northern Peninsular Malaysia’s largest.

But Malaysia may not be able to sign a joint venture (JV) agreement with Singapore before June 30 this year as the government requires more time to study the project details, said Transport Minister Anthony Loke Siew Fook.

The project is estimated to cost RM46 billion and covers a wide range of land infrastructure.