A Kadir Jasin
LATEST, May 13
– Cash-strapped 1Malaysia Development Bhd (1MDB) today announced that it has sold
land at Tun Razak Exchange (TRX) in Jalan Tun Razak for RM665 million to the Mulia
Group of Indonesia to build a “signature tower ".
statement claimed that the land was earlier
rejected by Tabung Haji despite being priced at only RM578 million. Instead, TH bought a 0.64-hactare
site for RM188.5 million.
Mulia Group proprietor, Eka Tjandranegara , in
a statement issue by 1MDB said: “As one
of the biggest commercial property developers in Indonesia, we are excited to
be embarking on this project to develop the Signature Tower to become the new
landmark of Kuala Lumpur city. Our Mulia Group wishes to be an integral part of
this iconic state-of-the-art development not only for Malaysia but for the
region and beyond."
Eka Tjandranegara: 17th Richest Indonesian According to Forbes
are expected as 1MDB rush to raise cash to service and pay off its massive RM40-billion
|TV3 PM's favourite platform|
Behind The Emergence of Rizal Mansor
|Could Rizal be the lone wolf of the PMO?|
Post-JJ Communications Strategy
LATEST - Tabung Haji said it invested RM920.8 million in 1Malaysia Development Bhd’s (1MDB) Bandar Malaysia sukuk issuance in February last year because “it is a secured investment” on which it expects to earn RM626.5 million in profit.
In a statement yesterday, its chief investment officer Abd Kadir Sahlan said the sukuk is secured against parcels of land in Bandar Malaysia, with a security cover of at least 1.67 times.