News about CREC

KOTA KEMUNING (May 16): IWH CREC Sdn Bhd is allowed to bid for the Bandar Malaysia real estate project again as long as the offer is right for the Malaysian Government, according to Minister in the Prime Minister's Department Datuk Seri Abdul Rahman Dahlan.

KUALA LUMPUR (May 12): IWH CREC Sdn Bhd has received the refund of RM741 million that it had paid as deposit to purchase a 60% equity stake in Bandar Malaysia Sdn Bhd for RM7.

KUALA LUMPUR (May 11): Iskandar Waterfront City Bhd (IWC) shares recovered 4.

Construction sector Maintain overweight call: Over the weekend, local newspapers covered several “what if” scenarios following the termination of the share sale agreement of the 60% stake in Bandar Malaysia to the 60:40 consortium formed by Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC) — valued at around RM7.

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): 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.

KUALA LUMPUR (May 5): Financing was already in place for IWH CREC Sdn Bhd’s plan to acquire a 60% interest in the Bandar Malaysia project for RM7.

KUALA LUMPUR (May 4): Trading in the shares of Iskandar Waterfront City Bhd (IWCity), which succumbed to some selling pressure in the afternoon yesterday, has been suspended this morning until Friday, IWCity told Bursa Malaysia today.