KUALA LUMPUR (Aug 10): Eco World Development Group Bhd (EcoWorld) has issued the second tranche of Islamic bonds (sukuk) amounting to RM550 million under its sukuk wakalah programme of RM1.2 billion. In a filing with Bursa Malaysia on Thursday (Aug 10), the property developer said the proceeds from the sukuk will be utilised by EcoWorld…
Read MoreThe proposal for a vacancy tax has drawn criticism from the National House Buyers Association and a researcher. PETALING JAYA: In Malaysia, a vacancy tax is more likely to hurt homebuyers and homeowners rather than ease a property glut. This is the view expressed by the National House Buyers Association (HBA) and an independent researcher…
Read MoreKUALA LUMPUR (Aug 9): Chinese property giant Country Garden Holdings Co’s failure to make payments on its two dollar bond coupons due Aug 6 (Sunday) totalling US$22.5 million (RM103 million) has raised concerns over a cross-default on its Islamic Medium-Term Notes (IMTN) Programme in Malaysia. The RM1.5 billion sukuk, issued by Country Garden’s Malaysian unit…
Read MoreKUALA LUMPUR (Aug 8): Lion Industries Corp Bhd has scrapped its plan to acquire 80 acres of sub-divided leasehold agriculture land in Sepang for RM23 million. The group said its wholly-owned subsidiary LLB Bina Sdn Bhd has signed a deed of mutual termination with the land owner, Premier Land Resources Sdn Bhd, to terminate the…
Read MoreKUALA LUMPUR (Aug 9): The Construction Industry Development Board (CIDB) has launched two initiatives under the industralised building system (IBS), which are IBS Homes Catalogue and IBS Homes showhouses to encourage adoption of IBS in Malaysia in the affordable housing landscape. These were launched at the opening ceremony of BINA 2023 Conference at CIDB Convention…
Read MoreKUALA LUMPUR (Aug 8): KLCC Property Holdings Bhd (KLCCP) has denied it is bidding for a stake in ICD Brookfield Place, a 900ft office tower in the heart of Dubai’s financial district.It was responding to a Bloomberg report on Aug 2, quoting people with knowledge of the matter, that KLCCP, along with China Investment Corp,…
Read MoreKUALA LUMPUR (Aug 8): TCS Group Holdings Bhd has secured a contract to build a sales gallery along the Federal Highway in Subang Jaya for a property developer. The construction group said the contract, worth RM10.7 million, was awarded to its wholly-owned subsidiary TCS Construction Sdn Bhd by Impiana Impresif Sdn Bhd (IISB), a wholly-owned…
Read MoreKUALA LUMPUR (Aug 8): A total of 91.5% or 1,913 affordable housing projects using the Industrialised Building System (IBS) had been developed by government-appointed developers as of last year. Works Minister Datuk Seri Alexander Nanta Linggi said the figure showed an increase in affordable housing construction projects using the technology, compared with 84% or 1,180 in 2021….
Read MoreKUALA LUMPUR (Aug 8): Pestech International Bhd executive director Lim Peir Shenq (pictured) has retracted his resignation letter after handing it in on the same day on Aug 7, 2023. In a Bursa Malaysia filing on Tuesday (Aug 8), Pestech said Peir Shenq retracted his resignation in the late evening of Monday, but did not…
Read MoreKUALA LUMPUR (Aug 4): Property developer Magna Prima Bhd is selling its entire equity interest in loss-making 33 Sentral Park Sdn Bhd, which owns two pieces of adjoining residential land measuring a total of 6.9 acres and fronting Jalan Gasing in Petaling Jaya, Selangor, to Glomics Holding Sdn Bhd (GHSB) for RM65 million. Magna Prima…
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