KL Glory Fury

Author: kiasutrader123   |   Latest post: Wed, 24 Jul 2019, 10:10 PM


大马城近期会有合约并购 S&P Agreement for Bandar Malaysia project to be inked soon

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Bandar Malaysia分为2个股权,40%由大马财政部持有,剩余的60%由


联营公司IWH-CREC当中, IWH拥有60%股权,而CREC只持有40%。




持有IWCITY 38%

另一方面,丹斯里林刚河也直接或间接持有EKOVEST 32%股权。这意味着

EKOVEST和IWCITY, IWH的老板都是同一个人,也就是丹斯里林刚河。










Sale and purchase agreement for Bandar Malaysia project to be inked soon


The sale and purchase agreement for the Bandar Malaysia project is

expected to be inked soon, said Finance Minister Lim Guan Eng.


He said the government, via a development advisory committee, is

negotiating with developer IWH CREC Sdn Bhd (ICSB) to finalise the

terms of the agreement.


Both parties will also determine the strategic direction of the

development of Bandar Malaysia, Lim said in a parliamentary reply

dated last Thursday.


"The committee and ICSB are in talks... The agreement is expected to be signed in the near future," he added.


Bandar Malaysia was once under the development of 1MDB, a

brainchild of former prime minister Najib Abdul Razak.


IWH CREC first won the bid for Bandar Malaysia in late 2015 but

their agreement was terminated in May, 2017.


In April, Harapan government decided to revive the project with some changes.


The changes include the construction of a "people's park", 10,000

affordable homes, bumiputera participation throughout the project

and priority for local resources in the construction process.


The government awarded the contract to the same developer on the

basis that the company was terminated unfairly.


On April 22, the government also set up the development advisory

committee to determine the terms of the project together with ICSB.


The committee was entrusted to determine the direction and monitor

the implementation of Bandar Malaysia project. 




11 Jul 2019: Lim said in a parliamentary reply
dated last Thursday.
In between (11th - 25th), contract S&P will be finalised? or when?
25 Jul 2019: ECRL contracts will start to be given


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