KUALA LUMPUR (Oct 11): Malaysian developer Iskandar Waterfront Holdings Sdn Bhd is considering reviving an initial public offering as early as 2017 as it steps up the construction of projects including one with embattled state fund 1Malaysia Development Bhd (1MDB). 1MDB agreed in December last year to sell 60% of a Kuala Lumpur property project to Iskandar Waterfront and China Railway Engineering Corp for RM7.41 billion, part of its plans to reduce debt. The development “will sustain the economy for Kuala Lumpur and the country,” he said. The Malaysian exchange hasn’t hosted an IPO exceeding US$500 million since April 2015, the data show. The joint venture between Iskandar Waterfront and China Railway is currently inviting local and foreign companies to participate in the development of Bandar Malaysia, Lim said, adding that work will start next year.

Source: The Edge Markets October 11, 2016 02:57 UTC