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Malaysia to inject RM2.8 bil in rescue funding to complete TRX

1MDB Watch

Malaysia to inject RM2.8 bil in rescue funding to complete TRX

Samantha Chiew Published on Thu, Jun 21, 2018 / 3:47 PM GMT+8

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SINGAPORE (June 21): The Malaysian government has agreed to inject RM2.8 billion ($950 million) of new capital into the Tun Razak Exchange (TRX) development in Kuala Lumpur to avoid bigger losses.

The bailout, announced by Finance Minister Lim Guan Eng, will help complete all the necessary infrastructure works in the TRX. The money would be released in stages up until 2024, with RM344 million to be disbursed starting this year.

See: Funding for TRX Lifestyle Quarter on the line

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