News by M

Prime Minister Datuk Seri Najib Razak is set to announce the revisions to Budget 2016 on Jan 28, as the government is expected to revise its base assumption for crude oil price to US$30 per barrel, from the initial US$48 per barrel assumption, when the budget was tabled in October last year.

Tower REIT said the revaluation done by independent valuers, Raine & Horne International Zaki and Partners Sdn Bhd, will raise the unaudited net asset value by 2.71 sen per unit.

The intensive construction of public transport infrastructure and residential development projects seem to be inspired by Singapore.

Ipoh Barat MP M Kula Segaran said this following the High Court's postponement of the trustees' appeal to quash the decision to gazette the area a heritage site, pending a meeting with Tourism and Culture Minister Datuk Seri Nazri Aziz to ask him to reconsider the gazette decision.

Chief minister Lim Guan Eng said this in relation to 1MDB president and group chief executive officer Arul Kanda Kandasamy's recent admission that the 234 acres of land it purchased in Air Itam here for RM1.38 billion by the group's property arm, 1MDB Real Estate (Ayer Itam) Sdn Bhd, was not 100%-owned.

In the background of eye-bulging record prices, the average price of condominiums in the area was RM432 psf in 1Q2015, up 18.7% y-o-y. 

Chief Minister Lim Guan Eng said this was because the development was not a special project.

WCT’s financial headroom was reduced further when the property market softened in early FY15 and cash proceeds from property sales fell short of expectations.

Penang is popular among expats or foreigners looking for a holiday home or retirement home under the Malaysia My Second Home scheme. Batu Ferringhi, Tanjung Bungah, Tanjung Tokong and Gurney Drive are some upmarket areas with luxury condos targeted towards foreigners.

DASH, costing about RM4 billion, will be a 20.1km highway traversing Shah Alam's Puncak Perdana U10, Kota Damansara, Mutiara Damansara and Damansara Perdana. SUKE, costing RM4.18 billion, will be a 24.4km highway connecting Sri Petaling to Cheras and Ulu Kelang.