1MDB: China Railway’s RM5.28bil refers to its share of the land’s net equity value

PETALING JAYA: 1Malaysia Development Bhd (1MDB) has clarified that China Railway Group Ltd’s revised figure of RM5.28bil for the controlling stake in Bandar Malaysia was in reference to the estimated share of the land’s net equity value.

China Railway created some confusion when it informed the Hong Kong Stock Exchange (HKEx) on Monday that the consortium comprising its Malaysian unit, China Railway Engineering Corp (M) Sdn Bhd (CREC), and Iskandar Waterfront Holdings Sdn Bhd (IWH) was paying a significantly lower sum for Bandar Malaysia instead of the earlier reported RM7.41bil.