Malaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest City

Prime Minister Anwar holds talks with tycoons Tan, Lim
Discussions at early stage, people familiar with matter say

Forest City is built on land near Singapore, which is linked to Johor by bridge. The city-state agreed with Malaysia in January to jointly develop a special economic zone in the state to boost trade between the two neighbors. — Forest City is built on land near Singapore, which is linked to Johor by bridge. The city-state agreed with Malaysia in January to jointly develop a special economic zone in the state to boost trade between the two neighbors.
Photographer: Ore Huiying/Bloomberg

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By Niki Koswanage, Chanyaporn Chanjaroen, and Ram Anand

April 24, 2024 at 11:00 PM UTC

Updated on

April 25, 2024 at 8:01 AM UTC

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Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered $100 billion property project that counts the country’s monarch as one of its shareholders.

Prime Minister Anwar Ibrahim met Berjaya Corp. founder Vincent Tan and Genting Group’s Lim Kok Thay last week at the development on the southern coast of Malaysia near Singapore, the people said, asking not to be identified because the information is private. King Ibrahim Iskandar was also represented, the people said.