In a statement, 1MDB said under the share sale and purchase agreement (SSA) executed between 1MDB and the IWH-CREC consortium, the consortium had agreed to pay RM7.41 billion (of which 10% or RM741 million is payable upon execution of the SSA) for its 60% share in the Bandar Malaysia project, based on the land value of RM12.35 billion.

Mah Sing currently owns land size of 2,540 acres, scattered in Klang Valley (60%), Iskandar region (24%), Penang (10%), and Sabah (6%).

‘Any estimate out there is purely speculation’

Despite external headwinds such as the slowdown in China, the recent terrorist attacks in Paris and the refugee crisis, the general European economy is improving.

A news report in Singapore's The Straits Times, quoting a ministry spokesperson, said that both governments were discussing the possibility of having two services — a non-stop express service linking Malaysia and Singapore, and a transit service in several locations in between.

For 2016, the company will be launching 15 projects with a total GDV of RM2.5 billion; these are spread out over the Klang Valley, Pahang and Batu Pahat, Johor.

Aspen Group CEO Datuk M Murly said the target will be achieved through four launches worth more than RM2 billion this year, including its maiden venture outside the island state.

Despite the expectation of a slimmer margin, IOI Properties chief executive officer Lee Yeow Seng said the group is confident of achieving its RM2 billion sales target for FY16.

It will definitely boost the land value of the areas along the line, says industry analyst

1MDB last week announced that the 60% stake in the 486-acre (197ha) piece of land was transacting at RM7.41 billion. However, CREC’s Hong Kong-listed parent, China Railway, announced that the cost was only RM5.28 billion