The Straits Times said in July Chinese companies were looking at buying a piece of prime land on Penang island for about RM2 billion, or entering into a joint development deal with 1MDB that would guarantee profits of about RM3.5 billion. China is helping Malaysia's state investment fund 1MDB to make its payment to Abu Dhabi's state-owned International Petroleum Investment Company. It has helped to bailout 1MDB by acquiring assets including a power generation business, which has alleviated pressure on the Malaysian government. The Chinese government also gave Malaysia $US1 billion in loans and equity investments last year as part of an effort to help it recover from the global financial crisis.
China is helping Malaysia's state investment fund 1MDB to make its payment to Abu Dhabi's state-owned International Petroleum Investment Company. It has helped to bailout 1MDB by acquiring assets including a power generation business, which has alleviated pressure on the Malaysian government. The Chinese government also gave Malaysia $US1 billion in loans and equity investments last year as part of an effort to help it recover from the global financial crisis.