News about Bandar Malaysia

KUALA LUMPUR (May 9): The company controlled by China's richest man is now the front runner to lead the development of Bandar Malaysia after Putrajaya last week dropped the consortium that was earmarked to buy a majority stake in the project, the Singapore daily The Straits Times reported today.

KUALA LUMPUR (May 9): Iskandar Waterfront City Bhd’s (IWC) share price took a nosedive and hit limit-down shortly after the opening bell as it resumed trading yesterday, wiping out RM759.

KUALA LUMPUR (May 9): 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy has yet to receive any “official notification” of being removed from the board of TRX City Sdn Bhd and Bandar Malaysia Sdn Bhd.

KUALA LUMPUR (May 9): Iskandar Waterfront City Bhd (IWC) shares took more beating this morning in active trade and fell 23.

KUALA LUMPUR (May 8):  Iskandar Waterfront City Bhd (IWCity) shares plunged this morning with no firm signal of a reversal of the Bandar Malaysia sale termination emerging.

KUALA LUMPUR (May 8): All eyes will be on Iskandar Waterfront City Bhd (IWC) when trading resumes today, with market players saying there could be a knee-jerk reaction in the short term due to uncertainty around the company after a RM7.

KUALA LUMPUR (May 6): IWH CREC Sdn Bhd needs to show evidence it has fulfilled payment obligations for the planned acquisition of a 60% stake in Bandar Malaysia Sdn Bhd to proof IWH CREC's credibility, Petaling Jaya Utara MP Tony Pua said.

KUALA LUMPUR (MAY 5): IWH CREC Sdn Bhd (ICSB) has refuted the claims made by TRX City Sdn Bhd that it had failed to meet the payment conditions precedent under the share sale agreement (SSA) between the two parties regarding the sale of 60% of the issued and paid-up capital of Bandar Malaysia Sdn Bhd.

PETALING JAYA (May 4): 1MDB chairman Tan Sri Irwan Serigar Abdullah said the Bandar Malaysia project will go ahead, Malaysiakini reported last night.

KUALA LUMPUR (May 5): Questions are now being raised over who will refund the RM741 million deposit paid by a consortium led by Iskandar Waterfront Holdings Sdn Bhd (IWH) to acquire a 60% equity interest in Bandar Malaysia Sdn Bhd after the deal was called off on Wednesday.