Workmen are pictured on site at the 1MDB flagship Tun Razak Exchange development in Kuala Lumpur on March 1, 2015. TRX City was originally owned by 1MDB but the finance ministry took control last year as part of its efforts to clean up the financial fallout from the scandal. TRX City said the finance ministry would remain its sole shareholder. When the Bandar Malaysia deal was first announced, 1MDB said Iskandar Waterfront would hold 60% of the venture buying the 1MDB stake, while China Railway Engineering would hold the rest. The Bandar Malaysia development will include a hub for a digital free trade zone and a terminal for the high-speed rail connecting Kuala Lumpur and Singapore.

Source: Bangkok Post May 03, 2017 13:07 UTC