You are here

1MDB to have at least RM10b in assets after revamp

1 Malaysia Development Berhad (1MDB) President and Group Executive Director Arul Kanda addresses journalists in Kuala Lumpur on Oct 31, 2015.

[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.