Posted by moneySIFU > 2017-05-04 11:19 | Report Abuse

I don't agree with Felicity this time. A contract is subject to null & void if any one party fail to observe the terms & conditions of a contract. Simple as that.

If a buyer sign a contract to buy a house but fail to obtain bank loan within stipulated time period, surely vendor can call off the deal according to the terms in the S&P agreement. Nothing is wrong.

Posted by stockmanmy > 2017-05-04 11:20 | Report Abuse

The 1 MDB hole will still have to filled.......with public money of course.

Posted by stockmanmy > 2017-05-04 11:21 | Report Abuse

considering the 1 MDB corruption, I do not know what the writer is trying to say.

Posted by speakup > 2017-05-04 11:22 | Report Abuse

iwcity going to "TRIPLE" limit down. BEWARE!

Posted by ABCnewbie > 2017-05-04 11:25 | Report Abuse

It's complicated
https://klse.i3investor.com/blogs/bursastocktalk/122092.jsp

Posted by smalltimer > 2017-05-04 11:26 | Report Abuse

TRX City Sdn Bhd would like to announce that the Share Sale Agreement (SSA) entered into on 31 December 2015 with Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC) – who on 21 July 2016 assigned its benefits and responsibilities to IWH CREC Sdn Bhd – regarding the sale of 60% of the issued and paid-up capital of Bandar Malaysia Sdn Bhd, has lapsed.
This is because, despite repeated extensions being granted, IWH CREC failed to meet the payment obligations outlined in the Conditions Precedent under the SSA. As a result, the share sale agreement between the parties stands null and void with immediate effect.
Looking ahead, given a significant appreciation in the value of the Bandar Malaysia land, TRX City’s sole shareholder the Ministry of Finance will now be retaining 100% ownership of the site to ensure that the Malaysian people benefit from its development in its entirety.
TRX City will immediately be inviting expressions of interest for the role of master developer of Bandar Malaysia, with full ownership being preserved by the Ministry of Finance. The selection process will involve very strict criteria, including track record, speed of delivery and financial capability for such large scale development. This is to enhance all aspects of Bandar Malaysia, including its role as a business, transport, residential and tourism hub.

Read more at http://www.thestar.com.my/business/business-news/2017/05/03/bandar-malaysia-agreement-with-iwh-crec-lapses/#zRaIVOZVbmlG4Dgu.99

The writer fail to note that in a contract, if one party fail to meet its obligation, the contract can be terminated.

Posted by speakup > 2017-05-04 11:27 | Report Abuse

"what goes up must come down"
that's rule #1 of stock market.

Posted by speakup > 2017-05-04 11:27 | Report Abuse

too bad iwcity dont have PUT warrant.
if got, speakup will SAI LANG on the PUT warrant

Posted by Surewin123 > 2017-05-04 11:29 | Report Abuse

A contract is subject to null & void if any one party fail to observe the terms & conditions of a contract. Simple as that.

Posted by calvintaneng > 2017-05-04 11:32 | Report Abuse

I think those PRIME EX MILITARY AIRPORT LANDS IN SG BESI NOW CALLED BANDAR MALAYSIA IS JUST TOO CHEAP AT ONLY RM350 PSF

SINCE LANDS NEAR PETRONAS TWIN TOWER NOW WORTH AT LEAST RM3,500 PSF

HOW CAN BANDAR MALAYSIA LANDS GO FOR ONLY 10% OF THOSE LANDS NEAR PETRONAS TWIN TOWERS

I THINK THE CURRENT PRICE SHOULD BE AT LEAST RM2,000 TO RM3,000 PSF FOR BANDAR MALAYSIA LANDS TODAY

I HAVE ALSO TAKEN SOME PHOTOS OF BANDAR MALAYSIA LANDS

IN THE 1980S ABOUT 30 YEARS AGO I LIVED IN BANDAR SRI PETALING

EVERYDAY I PASSED BY THOSE SG BESI MILITARY AIRPORT.

AND AT NIGHT I USED TO SEE PEOPLE CATCHING EEL ALONG THE CLEAR STREAM ALONG THE HIGHWAY. IT WAS ONLY A 2 TRACK ROAD THEN.

NEVER IN MY WILDEST IMAGINATION THIS PLACE WILL BE A TRANSPORT HUB FOR HSR SOMEDAY.

Posted by Apollo Ang > 2017-05-04 11:34 | Report Abuse

butaland hotel near petronas twin towers but only 0.465 only....hahaha

Posted by speakup > 2017-05-04 11:35 | Report Abuse

Bandar Malaysia sold to 1MDB @ RM350psf ONLY BECAUSE to cover 1MDB ass

Posted by calvintaneng > 2017-05-04 11:35 | Report Abuse

Posted by Apollo Ang > May 4, 2017 11:34 AM | Report Abuse

butaland hotel near petronas twin towers but only 0.465 only....hahaha


YA!

GO WALLOP DUTALAND SHARES KAW KAW!

CALVIN THINK ALL WHO BUY INTO DUTALAND KAW KAW WILL BE REWARDED HANDSOMELY LIKE BUYING JAKS AT 40 SEN

Posted by speakup > 2017-05-04 11:39 | Report Abuse

how come they give sell it to speakup? speakup willing to pay RM351psf :-)

Posted by speakup > 2017-05-04 11:41 | Report Abuse

"TRIPLE LIMIT DOWN"

cant remember, there was a stock last time had QUAD LIMIT DOWN : morning, afternoon, next day morning, next day afternoon. anybody remember name? that was record.

But kasi iwcity chan, think TRIPLE limit down only.

Posted by Jonathan Keung > 2017-05-04 12:40 | Report Abuse

my view is that the China Railway ( one of the consortium partners )failed to get the green-light from the Central Government on their investment thru IMDB. This is the reason why they sought extension ( 5 times ) to lobby to get it thru.

IMDB was quoted at that point of time .with the sale of Bandar Malaysia. thier debt woes were be resolved thru this transaction. what Felicity said may not be 100% accurate but who are we to judge.

IMDB is an elephant in a room where nobody knows what's going to happen. but with the cancellation, Bursa is now dowm -15points. Needless to say how's the market believes and we, we ourselves think is 2 different thing.

Posted by Seek > 2017-05-04 13:23 | Report Abuse

China Railway is a state owned co. No money to pay?
It is just China not giving green light to China Railway to invest in this project.
Reason only Chinese Govt can answer?

Posted by bagan > 2017-05-04 13:34 | Report Abuse

now that 1MDB and IPIC already got an out of court settlement plan, 1MDB does have the luxury to renegotiate this project for better returns, the arabs would be scrambling for this piece of land. Kang Ho thot they can get the extention forever...

Posted by cend0l > 2017-05-04 13:59 | Report Abuse

It's easy to shove the blame to the government without knowing the detail terms of the agreement. Yes Felicity, an ongoing agreement can be terminated even after 100 years it was executed. No shocker there. The only shocker is that you can't fathom that.

The question is whether the termination was valid in accordance with the terms of the agreement. That remains a mystery.

Felicity has all of herself to blame for speculating :)

Posted by stockmanmy > 2017-05-04 14:40 | Report Abuse

no refunds....I hope.

Posted by ykloh > 2017-05-04 18:41 | Report Abuse

Events in the last few years teach us that we must look beneath the surface to understand what actually is happening.

Posted by greatful > 2017-05-04 21:20 | Report Abuse

@ Stockmanmy, Gramma mistake. (to fill, not to filled. After "to", should be present tense.)
===================================
stockmanmy The 1 MDB hole will still have to filled.......with public money of course.
04/05/2017 11:20

Posted by greatful > 2017-05-04 21:22 | Report Abuse

Lesson learned: Those companies that need fund investment from China, will have huge impact in stock price soon. Any of this company?

Posted by ks5S > 2017-05-04 21:29 | Report Abuse

the china govt purposely do not want to get involve in this 1mdb bailout case since US govt is pursuing 1mdb.
china and us is brother and sister now.

Posted by Apollo Ang > 2017-05-04 21:31 | Report Abuse

if oil fall to below RM 40, many contracts will be shelve or delay

Posted by Junichiro > 2017-05-04 22:35 | Report Abuse

New technology has enabled cars powered by hydrogen or electricity to run as fast as those using petrol. Shell is selling its refineries worldwide n has teamed up with Toyota to build hydrogen filling stations in the US. It only means that oil comsumption is slowing but surely on the decline.
SA acknowledged this fact when it started Aramco IPO to obtain funds to diversify.
"the stone age ended not for the want of stones and the oil age will end long before the world runs out of oil".

Posted by myportfolio > 2017-05-04 23:39 | Report Abuse

our country is falling behind - our young talented professionals had left.. leaving behind retarded ones. How this country is governed, is somewhat a 3rd world, sorry to say :(

Posted by supersaiyan3 > 2017-05-04 23:42 | Report Abuse

This time obviously the writer is bias. Bro, this time is black and white, nothing blur.....

Posted by Apollo Ang > 2017-05-04 23:47 | Report Abuse

agreed with myportfolio, our country just like china before they open up their economy.other countries are moving forward but we are moving backwards.because we can't compete with other countries so we have to compete within ourselves, so the sharks can't win against them they swindle our own country men

Posted by Apollo Ang > 2017-05-04 23:51 | Report Abuse

anyway tomoro likely bursa going to test support level at 1750pts cos oil price drop sharply. maybe some speculative and low paid up or some former 2nd board stocks can shine but overall sentiment should be gloomy,beware of oil stocks and blue chips

Posted by jayalbert > 2017-05-04 23:52 | Report Abuse

Malaysia is just too small with only 31 mil population n our competitiveness is diminishing due to external n internal situation.. At the same time, brain drain keeps on happening.. Something drasticust b done b4 too late

Posted by Apollo Ang > 2017-05-04 23:56 | Report Abuse

yeah,good doctors migrate leaving money minded doctors here, good lawyers migrating leaving crooked lawyers here,skilled workers migrating leaving imported immigrants here and so on.

Posted by kk123 > 2017-05-05 00:12 | Report Abuse

There are only 1 or 2 local property and construction company which has the financial means ...and now can potentially become the master developer now that iwh and crec gone case..

Posted by Ezra > 2017-05-05 06:38 | Report Abuse

Even though I agree with felicity's view most of the time, for once I disagree with him.

From a neutral standpoint, in this case I think felicity may be subconsciously influenced by confirmation bias - possibly due to having an interest in Ekovest.

As many has pointed out, in any contract, if one party fail to meet its obligation, the contract may be rendered nulled and void.

A promise is a promise, but it is as good as none under conditions such as:
1) It is not supported by any "consideration"
2) If the party failed to oblige the agreed terms and condition.
3) time lapse

Posted by angelo > 2017-05-05 07:12 | Report Abuse

RM 1.45 coming.......

Posted by Tai KT > 2017-05-05 07:21 | Report Abuse

Company from China can not fulfill to deal. Not Malaysia and not local company lah.

Posted by pussycats > 2017-05-05 08:18 | Report Abuse

IMDB was quoted at that point of time with the sale of Bandar Malaysia. thier debt woes were be resolved thru this transaction.

China gov doesn't want its Chinese company to assume undisclosed bad debts from Bdr Msia deal from IMDB bcos IMDB didn't published annual report for 2015 & 2016. China gov is not foolish la.

Posted by brushsoo > 2017-05-05 08:27 | Report Abuse

this write-up is pointless....
and shows the ignorance of the writer with regard to a commercial contract's obligation.

Posted by 十强 > 2017-05-05 12:46 | Report Abuse

A contract can be voided if any one party fail to observe the terms & conditions of a contract. Simple as that.

Posted by lala23 > 2017-05-05 15:32 | Report Abuse

dumb article.. say u r selling a house and the buyer failed to come up with the 10%.. what u do?.. wait for him forever ?

Posted by ykloh > 2017-05-05 19:05 | Report Abuse

IWC and CREC have now disputed the allegation tha they are unable to come up with the money !!!

Posted by 7skies > 2017-05-07 21:32 | Report Abuse

wasting my time oni reading da article. for da lack of btr word..its crap