KUALA LUMPUR (Nov 7): Tan Sri Abdul Rashid Abdul Manaf (pictured) has ceased to be a substantial shareholder of Eco World Development Group Bhd (EWGB), according to a filing with Bursa Malaysia. This is after he sold his stake in unlisted Eco World Holdings Sdn Bhd (Eco World SB), giving him an indirect stake of…
Read MoreKUALA LUMPUR (Nov 7): Malaysia’s actual development expenditure (devex) is shrinking every year despite increases in allocation under the country’s annual budgets, according to Prime Minister Datuk Seri Anwar Ibrahim. In a statement on Monday (Nov 6), Anwar, who also holds the finance minister post, said this finding was made in a National Economic Action…
Read MoreKUALA LUMPUR (Nov 7): YNH Property Bhd’s three-member audit committee intends to appoint a professional firm for an independent review of the real estate developer’s joint venture (JV) and turnkey construction agreements. This is in addition to a special review by two law firms — Samir Sumathi Fernando & Co (SSF & Co) and Benjamin Dawson…
Read MoreKUALA LUMPUR (Nov 7): The steel industry outlook is likely to face continued headwinds going into 2024, primarily due to uninspiring demand — particularly from China, and the presence of structural overcapacities within the Asean region, said RHB Research. The research house said the Chinese steel industry is at a crossroad, as both production and consumption…
Read MoreKUALA LUMPUR (Nov 5): No injuries or untoward incidents were reported from the flash flood incident at the Subang Parade Shopping Centre’s lower ground floor in Subang Jaya near here on Sunday. Hektar Property Services Sdn Bhd, the mall’s building management company, said in a statement on Sunday night that it was actively working to…
Read MoreKUALA LUMPUR (Nov 6): Sime Darby Property Bhd’s Hype Residences Phase 1 in its SJ7 mixed-use development in Subang Jaya was fully taken up within an hour of its official launch on Oct 28, according to a press statement on Monday. In the statement, Sime Darby Property chief marketing and sales officer Datuk Lai Shu…
Read MoreKUALA LUMPUR (Nov 6): The implementation of the multi-lane fast flow (MLFF) toll collection system on highways will utilise the automatic number-plate recognition and radio frequency identification (RFID) systems. Deputy Works Minister Datuk Seri Abdul Rahman Mohamad said this will eliminate the need for users to stop or reduce their speed for toll payments, ensuring…
Read MoreThe 4th National Physical Plan addresses the issue of placing residential areas at a considerable distance from job centres and city hubs. TODs provide so much more than just transportation By Yanika Liew As cities continue to expand alongside Malaysia’s rising population, states see an increase in urban property developments and infrastructure, resulting in increased…
Read MoreKUALA LUMPUR (Nov 2): Atrium Real Estate Investment Trust’s (Atrium REIT) asset manager Atrium REIT Managers Sdn Bhd (ABSB) has acquired buildings and leasehold land in Shah Alam, Selangor from a related party, Amazing Blitz Sdn Bhd (ABSB), for RM41 million cash. In a filing with Bursa on Thursday, the REIT said the purchase consideration…
Read MoreAccording to PLANMalaysia, a tier-one TOD must have a location in major cities of either regional, national or global importance. While transit-oriented developments have increased in number, the progress towards efficient, tier-one TODs remain a slow march. By Yanika Liew While it has been nearly two decades since the government began encouraging transit-oriented developments (TODs),…
Read More
