Dubai World is reconsidering its involvement in a US$4.5bn (Dh16.52bn) port and property project in Malaysia because of the economic crisis, MMC Corporation, its Malaysian partner in the development, has said.

The plan to build a sprawling maritime centre, including an oil terminal, dry docks, a shipyard, cargo-handling facilities, logistics parks and a property development in south Johor, was first agreed to in September 2007.

The development would have occupied 912 hectares of land owned by MMC at Tanjung Bin. MMC, a Malaysian power producer and port operator, said no further progress had been made on its partnership with the Dubai Government-owned conglomerate.

The National