Seven years in, Country Garden has invested 20 billion ringgit ($4.3 billion) in the project, Forest City said, a far cry from the initial $100 billion plan.
"Seeing is believing," Forest City said in an email response.
"The land plot itself is valuable," a Singapore-based bondholder of Country Garden said, while highlighting the complications of dealing with a local government joint-venture.
Last month, Malaysia's central bank said local banks had limited exposure to Country Garden amid concern about its financial stress.
Anwar, Malaysia's prime minister, has designated Forest City a "special financial zone" to attract investment, which Forest City said would help with its marketing.
Persons:
Foo Gee Jen, Anwar Ibrahim, Anwar, Malaysia's, Yang Ming Han, Loh, Loh Wee Loon, I'm, Xinghui Kok, Xie Yu, Anne Marie Roantree, Lincoln
Organizations:
ISKANDAR PUTERI, Garden, Forest, Malaysian, Reuters, Thomson
Locations:
KUALA LUMPUR, ISKANDAR, Malaysia, Garden's, City, Johor, Singapore, Forest City, Malaysian, Forest, Loh Wee, China, Johor Sultan, Iskandar Puteri, Kuala Lumpur, Yantoultra, Hong Kong