In March, Malaysiakini highlighted that the project is 55 percent owned by Sultan Ibrahim Sultan Iskandar and Daing A Malek Daing A Rahaman, who is a close adviser to the monarch.
Equally intriguing is their business partner K Energy Sdn Bhd, which holds the remaining 45 percent stake in the project.
The firm is wholly owned by two individuals, Eric Ong Zong Ren, 28 and Valerie Ong Huei Zhen, 29, who each have a 50 percent stake in K Energy.
This begs the question as to how did two young individuals possess such influence to enter into business with the sultan and involve themselves in a massive reclamation project that is set equivalent to a quarter the size of Putrajaya?
The answer lies in K Energy's registered business address in Johor Bahru. Checks by Malaysiakini found several other businesses registered at the same address.
A review of those businesses found a recurring name in terms of ownership, 69-year-old doctor-turned-businessperson Dr Ong Tun Tse.
Malaysiakini's background checks revealed that Zong Ren, Huei Zhen and Tun Tse have the same registered residential address, suggesting that the three Ongs are...
