Dubai reviews $4.5 bln Malaysian investment

Dubai World is reconsidering its investment in a 16 billion ringgit ($4.5 billion) Malaysian maritime centre with MMC Corp, as the global financial downturn impacts the government-owned conglomerate's overseas projects.

"As a consequence of the economic crisis that had negatively impacted the global community including Dubai, Dubai World is reassessing its priorities with respect to its investment allocation," the Malaysian power producer and port operator said in a statement on the Kuala Lumpur bourse website.

"Hence, there is no further progress on the MoU since the last announcement in May 2009," it said.

Dubai World was not immediately available for comment on Wednesday when contacted by news agency Zawya Dow Jones.END

From 28th May, 2009:
http://rupertbumfrey.blogspot.com/2009/05/malaysias-mmc-says-dubai-world-reviews.html