China fund fears creep up in Malaysian market

Panic selling is expected on IWC when it reopens. Indications on Thursday morning prior to IWC

PETALING JAYA: Fears of companies from China not putting their money in Malaysian government projects, following the surprise cancellation of a deal that would have given a state-owned Chinese firm a stake in the development of the prestigious Bandar Malaysia project, caused sentiment on Bursa Malaysia to go south.

It came hot on the heels of the Ministry of Finance Inc (MoF) calling off the deal to jointly develop Bandar Malaysia with a consortium called ICSB comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC).

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