News by theedgemalaysia.com

Capri by Fraser, Penang, had its topping-out ceremony on Jan 20, marking the structural completion of the 248-unit hotel on Magazine Road in George Town.

The long-standing Semantan Estate (1952) Sdn Bhd dispute with the government could bring into question the issue of the rule of law in the country, as what the company and its liquidators possess is a judicial order by the High Court, and affirmed by the Federal Court, that leaves no doubt that the taking and occupation of the 263.272-acre prime Kuala Lumpur land known as the ‘Duta enclave’ is unlawful, but the matter had yet to be rectified, said the lawyers for the company.

The Federal Territory Land Registrar and the government told the Court of Appeal on Thursday that Semantan Estate (1952) Sdn Bhd is not entitled to the recovery of the 263.272 acres of prime Kuala Lumpur land known as the "Duta enclave", but it is entitled to receive compensation.

The Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) projects property prices to grow by 2% to 5% this year, driven by strong domestic housing demand and higher construction costs.

Hektar Real Estate Investment Trust (KL:HEKTAR) is acquiring a light industrial asset in the Bayan Lepas Free Industrial Zone, Penang, for RM30 million from Microlead Precision Technology Sdn Bhd (MPT), a wholly owned subsidiary of MQ Technology Bhd (KL:MQTECH).

The final cost of the Penang Light Rail Transit (LRT) project has yet to be determined, as it depends on the ongoing procurement process and tender results for civil works and turnkey systems, said Transport Minister Anthony Loke Siew Fook.

Bandar Malaysia Sdn Bhd, the state-owned developer of the eponymous project, has been accused of breaching its agreement after scrapping a deal to develop Escape theme park.

The government is reviewing the possibility of aligning electricity tariff adjustments at Kulim Hi-Tech Park (KHTP) in Kedah with the scheduled tariff hike across Peninsular Malaysia — which is set to take effect in July, said the Minister of Energy Transition and Water Transformation Datuk Seri Fadillah Yusof.

As there is no settlement in sight for the multibillion half-century dispute of 263.272 acres of prime land in Kuala Lumpur called the “Duta enclave”, appeals by Semantan Estate (1952) Sdn Bhd and the cross-appeal by the Federal Territory Land Registrar and the federal government will proceed for two days at the Court of Appeal on Thursday and Friday (Feb 20 and 21).

Shares of Cahya Mata Sarawak Bhd (KL:CMSB) rose to their highest in six weeks on Wednesday after the construction and building materials company reported a surge in quarterly profits.