News by M

Malaysia’s central bank on Wednesday moved to cut interest rates for the first time in nearly two years to support an economy facing downside risks to its growth.

Bina Puri Holdings Bhd (KL:BPURI) said on Tuesday that two of its wholly-owned subsidiaries have been served with winding-up petitions by the government, via the Inland Revenue Board, for failing to settle outstanding tax liabilities.

SkyWorld Development Bhd (KL:SKYWLD) is acquiring a 25.9-acre parcel of land in Batu Kawan, Penang, for RM48.51 million as part of a previously announced joint development to build affordable housing units in the state.

Noteworthy:

• Freehold
• Built-up size: 732 sq ft
• Land size: 770 sq ft
• 3 bedrooms, 2 bathrooms
• Semi-furnished
• Nearby amenities: Today's Mall, Mid Valley Southkey, Hospital Sultan Ismail, Bukit Batu Putih, SK Taman Bukit Rimba, Ulu Tiram Health Clinic
• Accessibility: Jalan Kota Tinggi, Pasir Gudang Highway, ELITE Highway, PLUS Highway

When: January 2025

Abadi Malaysia Sdn Bhd, Kota Lanskap Sdn Bhd and Usia Maintenance Sdn Bhd were found to have infringed Section 4 of the Competition Act 2010 in six tenders collectively worth RM44.85 million put out in 2018 and 2021. 

About half of 23 economists polled predict a cut from 3%, while the rest expect the central bank to stand pat.

The project is slated for completion within 41 months. 

Hyatt Regency, a global hospitality brand, announced the unveiling of Hyatt Regency Kuala Lumpur at KL Midtown, a five star hotel in Mont Kiara, which is to open its doors on Aug 26 this year.

A lawsuit filed in the US against Genting Malaysia Bhd (KL:GENM) by its business partner RAV Bahamas Ltd has been dismissed, though the court opened the door for an amended complaint.

Radium Development Bhd (Radium) has relaunched Chancery Ampang SOHO, featuring Kuala Lumpur city’s first pet-friendly high-rise park.