Proposed real estate merger raises spectre of financial bailout in corporate Malaysia

📆 05/10/2020 17:12:00
📰 The Straits Times

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KUALA LUMPUR - A proposed takeover of one of Malaysia's top real-estate companies Eco World Development Group through a controversial merger plan spearheaded by sovereign fund Khazanah Nasional is raising concerns that Prime Minister Muhyiddin Yassin's administration is succumbing to pressure to bail out politically well-connected firms using public funds.. Read more at straitstimes.com.

KUALA LUMPUR - A proposed takeover of one of Malaysia's top real estate companies, Eco World Development Group, through a controversial merger plan spearheaded by sovereign fund Khazanah Nasional is raising concerns that Prime Minister Muhyiddin Yassin's administration is succumbing to pressure to bail out politically well-connected firms using public funds.

In a statement to the Malaysian stock exchange on Monday , Khazanah-controlled UEM Group said that it was proposing a share-swop transaction between its publicly listed property arm UEM Sunrise and Eco World.Enjoy unlimited access to ST's best work Subscribe Now

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