Magma Group Bhd (KL:MAGMA) said on Tuesday it is acquiring a 2.26-acre plot of land in the Persiaran Dutamas area of Kuala Lumpur from a company connected to its executive chairman and major shareholder Datuk Seri Lee Hock Seng, for RM80 million.

Noteworthy:

• Leasehold
• Built-up size: 3,283 sq ft
• Land size: 3,200 sq ft
• 6 bedrooms, 7 bathrooms
• Unfurnished
• Nearby amenities: Shah Alam Stadium, Sultan Abdul Aziz Shah Golf & Country Club, Hospital UMRA, Management & Science University, AEON Mall Shah Alam
• Accessibility: NKVE, GCE, Elite, Federal Highway, Kemuning-Shah Alam Highway, Jalan Subang, Persiaran Kayangan

When: July 2024

The NSRF addresses the use of the IFRS Sustainability Disclosures Standards issued by the International Sustainability Standards Board (ISSB) as the baseline for sustainability disclosures for companies in Malaysia. 

“The demand for a sustainable, resilient and liveable urban environment has never been more pressing."

This is on the back of competitive data centre construction cost and average electricity tariff, coupled with a supportive regulatory environment from streamlined approval processes to conducive framework for data centre operations. 

Through this framework, TNB can utilise various financing instruments for its SFTs, which encompass sustainable and responsible investment (SRI), green, social and sustainability (GSS) and transition sukuk, GSS and transition bonds, as well as transition loans.

The recently announced incentives for Forest City’s Special Financial Zone (SFZ) are expected to uplift the real estate sector, particularly in the Iskandar Malaysia region.

Over the past decades, as Malaysia undergoes a major transformation from an economy largely dependent on agriculture and commodities to a more robust industrial and service-oriented economy, the country’s major cities are also experiencing a rapid proliferation of high-rise developments, with new residential, commercial and mixed-use towers reshaping the urban skyline.

The Malaysian government on Friday announced incentives to jumpstart the Forest City special financial zone that include special corporate income tax rates and 0% tax rate for family offices.

The controversy surrounding the compulsory supply of actual water and electricity upon vacant possession (VP) under the sale and purchase agreement (SPA) that was prescribed under the Housing Development (Control and Licensing) Act 1966 (HDA 1966) has finally been laid to rest following the Federal Court’s decision in the case of Remeggious Krishnan vs SKS Southern Sdn Bhd (formerly known as MB Builders Sdn Bhd) [2023] 3 MLJ 1.