BEIJING (April 25): Malaysia has signed a framework of agreement with China this afternoon to revive the former's Bandar Malaysia project — the massive real estate development at the former air-base near Sungai Besi, Kuala Lumpur. The signing of the framework agreement was witnessed by Prime Minister Tun Dr Mahathir Mohamad and China's Premier Li Keqiang today. The signing of documents, which was not on the original agenda, took place after the official meeting between Dr Mahathir and Li. During the meeting, Dr Mahathir reiterated that Malaysia values its diplomatic relationship with China, which started in 1974. On Bandar Malaysia, Dr Mahathir announced the revival of the development project last Friday (April 19) by agreeing to sell a 60% stake in project to IWH-CREC Sdn Bhd for RM7.41 billion.

Source: The Edge Markets April 25, 2019 10:21 UTC