News by M

Hotel Equatorial Melaka is a five-star 22-storey international business hotel located in Bandar Hilir, Melaka. Sime Darby acquired the asset in 1998 and the hotel is now 17 years old.

While there are numerous condominium projects in the pipeline, the high-rise landscape is still predominantly dominated by the low-to-mid-cost segment.

The acquisition will result in savings on monthly rental payable to Johor Corp and to accrue benefits to Kulim, in anticipation of the appreciation of value in the future, as the property still carries a 45-year unexpired lease period.

Singapore's The Straits Times reported that the China-backed consortium led by Malaysia's Iskandar Waterfront Holdings (IWH), which is controlled by the property tychoon Tan Sri Lim Kang Hoo, is the frontrunner for the stake of more than RM11 billion.

“However, sadly, the plot of land already cleared will need 30 years for new mangrove trees to grow,” Kuala Sepetang assemblyman Chua Yee Ling said in a statement today.

UEM Sunrise Bhd has signed an agreement with Ascendas Hospitality Trust to sell the serviced apartment component of the La Trobe Street mixed-use development, Aurora Melbourne Central, for A$120 million (RM369 million).

We estimate that the disposal of Menara Shell will reduce MRCB’s net gearing from the current 113% to 86% on a pro forma basis.

Those who attended yesterday’s open session on the RM27 billion Penang Transport Master Plan were generally welcoming of the ambitious project. They were, however, also concerned about the impact it could have on the homes and the environment.

The areas covered are PJU 9 (Bandar Sri Damansara) and PJU 10 (Damansara Damai), which are collectively called Damansara North for the purposes of this study.

Menteri Besar Datuk Seri Mohamad Hasan said there were about 10 plots of Putrajaya-owned land that contained failing projects.