Two Johor DAP assemblyperson have called on the Johor government to renegotiate with the federal government-owned TRX City Sdn Bhd's cancellation of the IWH CREC Sdn Bhd (ICSB) consortium’s plan to develop Bandar Malaysia.

Skudai assemblyperson Dr Boo Cheng Hau, in his debate speech of thanks for the royal address in opening the state assembly session, said the cancellation as announced by TRX City will have a great impact on the Johor government-linked company Kumpulan Prasana Rakyat Johor Sdn Bhd (KPRJSB), and may cause potential losses.

Boo pointed out that Iskandar Waterfront Holdings (IWH) owns a 60 percent equity in ICSB and China Railway Engineering Corporation (CREC) the remaining 40 percent. KPRJSB, through its 40 percent equity in IWH, would have a 14.4 percent interest in the Bandar Malaysia project if the deal materialises...