1MDB buys Tadmax land for RM317mil

PETALING JAYA: Government-linked company 1Malaysia Development Bhd (1MDB) has bought a 310-acre land in Pulau Indah from Tadmax Resources Bhd for RM317.3mil, or RM23.50 per sq ft.

This is the first plot of land that 1MDB is acquiring from the private sector, given that it had earlier obtained two strategically-located plots in the city via direct negotiations with the Government.