Is a top five UK hit from way back in 1984 for Shakin Stevens.
Singapore Straits Times Leslie Lopez, writes today, hinting that teardrops will fall on 1MDB's tie up with China state owned companies for property projects in KL and Penang.
Read Below :
* Bandar Malaysia, 197ha township on the fringes of KL that will house the terminus for the high-speed rail link to Singapore, 40 per cent owned by 1MDB.
The development is facing problems as the 1MDB's 60 per cent partners, the state-owned China Railway Group and Johor-based Iskandar Waterfront Holdings, have sought repeated extensions to capital injections.
* Ayer Itam parcel, Penang island.
Only six months ago, this 94.7ha plot of land was in great demand, particularly from several Chinese corporations. State-owned China Metallurgical Corp was proposing to pay about RM2 billion for it or participate in a joint development with 1MDB that would guarantee profits of about RM3.5 billion.
But that deal is no longer on the table due to differences over valuation issues, property executives say.
