Archive for May 5th, 2017

Broken Bandar Malaysia deal raises questions anew over 1MDB debt’s

Trinna Leong
Straits Times
5th May 2017

The financial troubles surrounding debt-laden state fund 1Malaysia Development Berhad (1MDB) were supposed to fade away quietly before Malaysian Prime Minister Najib Razak called a general election, due by the middle of next year.

But the aborted plan involving the sale of a 60 per cent stake in the country’s largest property project, Bandar Malaysia, has put Malaysia’s public money woes in the news cycle again.

The upcoming 197ha township at the edge of downtown Kuala Lumpur has an estimated sales value of RM150 billion (S$48.5 billion) and will house the last station for the high-speed rail (HSR) line from Singapore. Read the rest of this entry »