KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has launched the land sale tender process for the company's land parcel in Pulau Indah.
In a statement, 1MDB said Savills (Malaysia) has been appointed as advisor to 1MDB and has prepared the detailed information memorandum for distribution.
"Suitably qualified potential purchasers are invited to register their expressions of interest with Savills (Malaysia) for this tender process," it added.
The 1MDB land parcel in Pulau Indah, Mukim Klang, Selangor, is on a single large development site, measuring about 318 acres. It is adjacent to the Port Klang Free Zone (PKFZ) and other industrial developments.
"The sale of Pulau Indiah land is part of the rationalisation plan presented to Cabinet on May 29 2015.
"1MDB is pleased to update that the overall plan is proceeding smoothly, with shortlisted bidders currently conducting detailed due diligence on Edra Energy and Bandar Malaysia respectively," it said.