1MDB to Have at Least 10 Billion Ringgit in Assets After Revamp

1Malaysia Development Bhd., the debt-ridden state investment company that nearly defaulted earlier this year, will hold between 10 billion ringgit to 12 billion ringgit ($2.3 billion to $2.7 billion) worth of assets after its proposed reorganization, according to President and Group Executive Director Arul Kanda.

This includes a 40 percent stake in Bandar Malaysia, a property project, and land worth about 5 billion ringgit to 6 billion ringgit in the Tun Razak Exchange development, Kanda said at a public forum in Kuala Lumpur Saturday.

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