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Deposit returned to IWH CREC

Mimi Sabreena 9:09:00 AM Informasi

KUALA LUMPUR: IWH CREC Sdn Bhd has received the refund of RM741 million that it had paid as deposit to purchase a 60% equity stake in Bandar Malaysia Sdn Bhd for RM7.41 billion.

The return of the deposit signifies that the stake sale has been officially terminated and that TRX City Sdn Bhd, a former unit of the controversial 1Malaysia Development Bhd (1MDB), can now look for new investors to participate in the massive development at the former air-force base in Sungai Besi here.

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