News by theedgemarkets.com

In a statement, MARC said the revised outlook reflects its increasing concern over the rise in Tropicana's borrowings, which stood at RM4.5 billion (including the outstanding perpetual sukuk) as at end-September 2021 from RM2.8 billion when the initial rating was assigned in April 2020

NWP Resources had defaulted on payment of outstanding rentals from October 2021 to February 2022, as well as service charges and default interest totaling RM2.6 million for the premise in Block A, Desa Commercial Centre, on Feb 8. 

In a statement, central region executive director Chong Sau Min said the participating projects for the campaign include Sunway Artessa and Sunway d’hill Residences, with the others being Sunway Belfield, Sunway Velocity TWO and Sunway Serene. “With the campaign, we look forward to welcoming new residents to our new norm developments that are in high-growth areas to yield the best capital appreciation.”

This follows its failure to obtain approval from the Economic Planning Unit (EPU) to waive a 30% Bumiputera equity ownership condition prior to transferring ownership of the land.

The sukuk is based on the shariah principle of Musharakah-rated A2 by RAM Ratings, said the Maju Holdings Sdn Bhd-owned highway concessionaire.

The price revision effective Thursday (Feb 17) is due to significant and sustained rising cost of raw and packaging materials and freight charges, CMS said in a statement.  

Speaking during the fourth quarter of 2021 gross domestic product (4Q21 GDP) statistics press conference on Friday (Feb 11), the governor said the central bank had always maintained that the financing model is a key component to support homeownership, with recommendations ready to address the matter.

At the document exchange ceremony on Thursday (Feb 10), the deputy state secretary of Johor (development) Datuk Mohammed Ridha highlighted the importance of close collaboration between the Johor government and private sector in realising the agenda of Johor state: “I am very pleased with Iskandar Investment Bhd (IIB)’s effort to understand the aspiration of (the) Johor government and embarking in an inclusive and sustainable project such as the MIH in Wawari, Iskandar Puteri.

The theme park enhancement project will be carried out in collaboration with China Mobile International (CMIM) to combine i-City’s City of Digital Lights with an immersive 3D Metaverse experience.

In a media statement, S P Setia president and CEO Datuk Choong Kai Wai said he is confident with the success of the new venture, given the ageing population in Malaysia and the need for such services to be conveniently accessible in established townships housing multi-generational families like Setia Alam.