The consortium comprising Iskandar Waterfront Holdings and China Railway Engineering Corporation rebutted claims that it had failed to make the necessary payments to acquire a 60 percent stake in Bandar Malaysia.

The consortium's vehicle, IWH CREC Sdn Bhd (ICSB), said it has made all necessary payments thus far, as outlined in the share sale agreement (SSA), and is also capable of meeting future payments.

"To date, ICSB has fulfilled all the required payment obligations under the SSA on its part towards TRX.

"ICSB has sufficient financial resources and capabilities to ensure the smooth and successful execution and implementation of the development of Bandar Malaysia," it said in a statement today...