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MB: Johor loses slice of Bandar M'sia pie, but it's no financial loss
Published:  May 15, 2017 3:47 PM
Updated: 9:18 AM

Johor Menteri Besar Mohamed Khaled Nordin believed that the botched Bandar Malaysia deal was a loss for the state, but this does not involve direct financial losses.

He told the Johor legislative assembly today that state investment arm Kumpulan Prasarana Rakyat Johor Sdn Bhd (KPRJ) did not inject any funds into the deal.

KPRJ has an interest in Iskandar Waterfront Holdings (IWH), which together with China Railway Engineering Corporation (CREC), was part of a consortium which attempted to buy a 60 percent stake in Bandar Malaysia.

On May 3, the Finance Ministry, which owns Bandar Malaysia, said the deal with the IWH-CREC consortium had been called off due to purported unfulfilled payment obligations...

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