Malaysia's $2.4 billion mega project with China Railway falls through, SE Asia News & Top Stories – The Straits Times

KUALA LUMPUR (REUTERS) – An equity deal for a planned mega project near Malaysia’s capital involving the government, developer Iskandar Waterfront Holdings (IWH) and its Chinese partner will not proceed by mutual agreement, the parties said in a joint statement. The agreement on a RM7.41 billion ringgit (S$2.4 billion) acquisition for 60 per cent equity in the Bandar Malaysia mixed commercial project by IWH and its partner China Railway Engineering Corp (CREC) lapsed on May 6 after a failure to meet conditions, the statement issued on Wednesday (July 14) said. Bandar Malaysia was due to house the terminal for the…