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Improved market may have played a part in scuppering of deal

Delays by proposed buyer in submitting bank guarantee for deferred payment led Malaysian government to walk away from deal

Anita Gabriel

Published Thu, May 4, 2017 · 09:50 PM

Singapore

MALAYSIAN top officials were all set to don a white workshirt with the Bandar Malaysia logo to attend a ceremony on Wednesday to update Prime Minister Najib Razak on the country's biggest real estate project at a choice site in Kuala Lumpur - then the shocking news came the very same evening that the event had been axed.

The unexpected announcement by the government said it had ditched the estimated RM5.3 billion (S$1.7 billion) sale of a 60 per cent interest in the iconic Bandar Malaysia project - sited at the main stop of the KL-Singapor…

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