Kang Hoo puts deposit

Sources told StarBiz that the partnership between Tan Sri Lim Kang Hoo

PETALING JAYA: The consortium of Iskandar Waterfront Holdings Bhd (IWH) and China Railway Engineering Corp (CREC) has put in a deposit for the proposed acquisition of a major stake in Bandar Malaysia Sdn Bhd (BMSB) amid speculation that a third bidder has entered the fray for the project after the tender has closed.

Sources told StarBiz that the partnership between Tan Sri Lim Kang Hoo’s IWH and China state-owned CREC made the payment of almost RM150mil last week after receiving a letter from 1MDB Real Estate Sdn Bhd (1MDB RE) stating that the consortium was a preferred bidder to be the equity investor and development partner of Bandar Malaysia.