KUALA LUMPUR: Iskandar Waterfront City Bhd (IWCity) and Ekovest Bhd , two listed firms controlled by Tan Sri Lim Kang Hoo, have issued separate statements to Bursa Malaysia to clarify that they are not involved in the revived Bandar Malaysia project. Ekovest also confirmed that it is not involved in the revived project. Investors on Monday chased up counters linked to Lim on high hopes that his companies would benefit from the revived Bandar Malaysia project. The government, on Friday, announced that it would reinstate the Bandar Malaysia project that was terminated by the previous administration in May 2017. The consortium will take up a 60% stake in Bandar Malaysia Sdn Bhd, with the government holding the remaining 40% stake.

Source: The Star April 22, 2019 12:11 UTC