In a statement on Friday (Jan 21), its president Tan Sri Soh Thian Lai said Malaysia needs progressive policies and laws to stand tall globally and shared that repressive and hostile laws which have not gone through proper regulatory risk impact assessment are going to be very damaging for the economy especially in the post-pandemic recovery period.

Sarawak is in a good position to tap into the opportunity as Sarawak is located just next to Kalimantan, said the Minister of Tourism, Creative Industry and Performing Arts of Sarawak during a press conference on the launch of the Largest Sarawak Themed Mural Painting at the Borneo Convention Centre Kuching on Friday (Jan 21).

The project is under Mitsui Fudosan’s Malaysian subsidiary MFBBCC Retail Mall Sdn Bhd, which is a project company established with UDA Holdings Bhd, Eco World Development Group Bhd and Employees Provident Fund Board.

In a note on Friday (Jan 21), Affin Hwang analyst Ng Chi Hoong said that although the research house believes that there is a high likelihood that GENM's new Genting SkyWorlds outdoor theme park will be opened to the public in 1Q22, Affin Hwang does not expect Genting SkyWorlds’ opening to be a re-rating catalyst for GENM shares.

The commercial property REIT, in a bourse filing, announced another distribution per unit (DPU) of 0.38 sen for the quarter. Coupled with the dividend that was declared on Dec 1, total DPU declared for the quarter was 2.41 sen, up 7.1% compared with  2.25 sen for 4QFY20.

In a bourse filing on Thursday (Jan 20), Axis REIT said it has entered into a 15-year lease agreement with Shopee Express. The proposed development is expected to commence in the first quarter of 2022 and to be completed for handover to Shopee Express by Aug 31, 2023.

In the media conference held on Thursday (Jan 20), Rehda Institute chairman Datuk Jeffrey Ng noted that the price for building material has led to the increase of a 13% to 20% in construction cost.

According to a statement on Thursday (Jan 20), the campaign will run from Jan 21 to May 22. Every purchase of a Tropicana property within the campaign period will entitle buyers to 10 entries in the Grand Draw. The event will be held at Tropicana Gardens Mall in June. 

The 19.24-acre KAIA Heights will feature four towers with a total of 924 residential units. The leasehold development will be launched in two phases. Phase 1 (Towers A — 30 storeys and B — 31 storeys with a total of 517 units) was launched in May last year and has achieved a take-up rate of 50%, while Phase 2 (Towers C — 28 storeys and D — 27 storeys with a total of 407 units) will be launched at end-2022.