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Indonesia's Mulia Group buys land from 1MDB

It agrees to pay RM665m for plot and development rights for TRX's signature tower

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Published Wed, May 13, 2015 · 09:50 PM

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Kuala Lumpur

ANOTHER buyer for assets linked to Malaysia's troubled strategic-development company 1MDB has emerged - after at least two earlier prospects pulled out of the deal.

Indonesia's Mulia Group has agreed to pay RM665 million (S$245 million) for a plot of land, together with the development rights to a landmark tower in Kuala Lumpur's Tun Razak Exchange (TRX), for which 1MDB is the master developer.

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