News about IWH-CREC

KUALA LUMPUR (July 15): Ekovest Bhd said today it will not proceed with its heads of agreement (HOA) with Iskandar Waterfront Holdings Sdn Bhd (IWH) to buy into the Bandar Malaysia project, following the lapse of Putrajaya's RM7.

KUALA LUMPUR (JULY 14): The plan to revive Bandar Malaysia (pictured) has been discontinued as the Restated and Amended Share Sale Agreement (RASSA) for the acquisition of 60% shares in Bandar Malaysia Sdn Bhd (BMSB) has lapsed on May 6, 2021.

KUALA LUMPUR (Oct 22): Ekovest Bhd has secured more time to consider a proposal to acquire a 40% stake in IWH-CREC Sdn Bhd, the main player in the Bandar Malaysia development.

KUALA LUMPUR (Sept 19): The big news this week was that Bandar Malaysia, the single largest city development in the region, is now ready to take off.

KUALA LUMPUR (July 22): TRX City Sdn Bhd, a wholly-owned unit of the Minister of Finance Inc, has given IWH-CREC Sdn Bhd a four-and-a-half-month extension to pay the balance RM1.

KUALA LUMPUR (Dec 16): Iskandar Waterfront City Bhd (IWCity) and Ekovest Bhd are back on the radar as their common shareholder Tan Sri Lim Kang Ho is expected to kickstart the Bandar Malaysia project (pictured) via joint venture IWH-CREC Sdn Bhd.

KUALA LUMPUR (Dec 14): The Bandar Malaysia project, which is to redevelop the former air-force base in Sungai Besi, is expected to kickstart in the New Year — a few weeks from now.

KUALA LUMPUR (April 19): The Prime Minister's Office (PMO) says today the government has decided to reinstate the Bandar Malaysia project that was abruptly terminated in May 2017, because the project will have a significant impact on Malaysia's economy.