MoF’s unit TRX City Sdn Bhd made the shocking announcement that the sale of Bandar Malaysia to the IWH-CREC JV has lapsed, after repeated extensions. This announcement (despite IWH-CREC’s ensuing retort) not only creates a potential panic selldown on Iskandar IWC which was scheduled to soon sign a definitive agreement to merge with sister company IWH, but could well dampen the broader market sentiment and reverse positive foreign equity inflows into Malaysia

Source: UOB Kay Hian Research - 4 May 2017