Temasek Holdings eyes stake in $1.6b Johor project

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http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_821046.html

Singapore state investment firm Temasek Holdings is in talks to buy a stake in a 4 billion ringgit (S$1.6 billion) project in Malaysia's southern state of Johor, Malaysia's Business Times reported on Wednesday, citing sources.

The Lido Boulevard project - a residential and commercial waterfront development overlooking the Straits of Johor that separates Malaysia from Singapore - is a joint venture between Central Malaysian Properties (CMP) and the Johor State Secretary Inc.

The newspaper said Temasek is looking to buy part of billionaire businessman Vincent Tan's 47 per cent stake in CMP.

Temasek officials were not immediately available for comment and Vincent Tan's office could not be reached.