News Snapshot:
Malaysia's US$1.8 billion mega project with China Railway falls through KUALA LUMPUR: 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 7.41 billion ringgit (US$1.77 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 (Jul 14) said. Bandar Malaysia...
