News by Tan Xue Ying

‘External situation deteriorating almost on daily basis’

UEM Sunrise said the existing residential resort development will be revised from 680 acres to 228 acres, a size the company said will be much more “manageable”.

Finance Ministry said the price reduction follows the price action of processed petroleum products (refined products) in the world market, which has shown a downward trend following the decrease in average Brent crude oil prices week-on-week.

"To decide what is individually considered as affordable means making a choice involving a trade-off between three elements: price, floor area and location."

Lim commented that the report is "baseless speculation" that is "grossly unfair".

Rutherford was never on BNZ’s payroll and that her withdrawal happened just as she joined the company.

“It won’t be easy for us to rely on just acquisitions, which means we have to do a bit of greenfield [projects] in the near future.

"We do see the Malaysian property market in the major urban centres getting fairly mature. So rightly said, the next step is to really look at potentially going out of the country… I think we are ready to go."

EPF said the purchase of the logistics property in Shirebrook had followed comprehensive due diligence and robust governance standards in line with the fund's investment policies.

The contract is split into phases and will commence this month for a date of completion by October 2020.