1MDB to have at least RM10b in assets after revamp
[KUALA LUMPUR] 1Malaysia Development Bhd, the debt-ridden state investment company that nearly defaulted earlier this year, will hold between RM10 billion to RM12 billion (S$3.24 billion to S$3.9 billion) worth of assets after its proposed reorganisation, according to President and Group Executive Director Arul Kanda.
This includes a 40 per cent stake in Bandar Malaysia, a property project, and land worth about RM5 billion to RM6 billion in the Tun Razak Exchange development, Mr Kanda said at a public forum in Kuala Lumpur on Saturday.
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising
Colombian fund managers eye US$750 million fee bonanza after senators tweak pension bill
Fed survey cites inflation, US election as key financial stability risks
Oil prices steady after Iran plays down reported Israeli attack
G7 pledges swift aid for Ukraine, seeks to calm Middle East
H5N1 strain of bird flu found in milk: WHO