Putrajaya returns RM786 million Bandar Malaysia deposit to IWH-CREC

Jahabar Sadiq

Ministry of Finance unit TRX City Sdn Bhd, which owns Bandar Malaysia, terminated a December 2015 deal to develop a huge tract of valuable land in the centre of Kuala Lumpur, signed with Iskandar Waterfront Holdings Sdn Bhd and partner, China Railway Engineering Corporation. – The Malaysian Insight pic, May 11, 2017.

PUTRAJAYA has returned RM785.9 million to the IWC-CREC consortium on Tuesday for the aborted Bandar Malaysia share sale agreement, in a sign of finality after the deal’s shock collapse last week.

The Malaysian Insight has sighted a lawyer’s document on the return of RM741 million deposit for the Bandar Malaysia shares and RM44.883 million interim payment for the Pangkalan Udara Kuala Lumpur (PUKL) relocation and redevelopment.

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