Given the hefty debt on the government's shoulders, the revived Kuala Lumpur-Singapore High-Speed Rail (KL-SG HSR) project is expected to be fully funded and driven by the private sector, according to MyHSR Corp Sdn Bhd.
Avaland Bhd, formerly known as MCT Bhd, has finally unveiled its new corporate identity. A rebranding launch that took place in Kuala Lumpur recently marks the culmination of a transformative journey that began four years ago.
Noteworthy:
When: May 2023
MyHSR Corp said it is embarking on a full-fledged request for information (RFI) that will be opened to all these three parties to submit their concept proposals.
The project is currently 76% completed and slated for completion in 4Q2023.
The company said Scientex Lestari proposes to develop the land into a mixed-development property, consisting of approximately 7,000 affordable houses.
The group, via wholly-owned subsidiary CIC Construction Sdn Bhd, had bought the initial 70% stake in RYRT International, a Kota Kinabalu-based construction player in January 2022.
Abdul Karim was the largest shareholder in the concrete product manufacturer after he acquired a 22.53% stake or 19.35 million shares for 70 sen apiece, or RM13.54 million, in May 2019.
The 4,794 square metres land, which comes together with a single-storey detached factory annexed with a three-storey office building, is being sold to Conway Terminals Manufacturer Sdn Bhd.
Datuk Seri Koe Peng Kang has been appointed as the new president of the World Council of Developers and Investors of FIABCI (The International Real Estate Federation) for a one-year term effective from June 30, 2023.
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