Property deal of former 1MDB unit with China-Malaysia group lapses

A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, REUTERS/Olivia Harris

A deal by a former unit of troubled state fund 1Malaysia Development Berhad (1MDB) to sell its stake in a property development project to a consortium including China’s state-owned China Railway Engineering Corporation (CREC) has lapsed.

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