Malaysia to inject RM2.8b to complete 1MDB-linked real estate project TRX City

Finance Minister Lim Guan Eng said the decision will "help allay concerns" of local and foreign investors on the fate of the project.
Finance Minister Lim Guan Eng said the decision will "help allay concerns" of local and foreign investors on the fate of the project.PHOTO: REUTERS

KUALA LUMPUR (REUTERS) - Malaysia on Thursday (June 21) said it will fund up to RM2.8 billion (S$951 million) to complete the development of TRX City, an integrated financial district, from which more than RM3 billion was taken to pay off 1Malaysia Development Berhad (1MDB) debts.

Finance Minister Lim Guan Eng said the decision will "help allay concerns" of local and foreign investors on the fate of the project.

"This is one example of how 1MDB used this to pay off its debts that are not related to the project," Lim said at a press conference broadcast live on local television.