Lulu Group is shutting down its hypermarkets in Malaysia, while keeping its wholesale division in the country.

The Kuala Lumpur Local Plan 2040 (KLLP2040) has been gazetted and comes into effect today. It will be officially launched by the Prime Minister on June 24.

Global hospitality technology company OYO has introduced SUNDAY Hotel in Malaysia, with simultaneous launches in Kuala Lumpur and Pantai Cenang, Langkawi.

EcoWorld signed on three major tenants at the lifestyle-focused commercial hub Santai Square recently.

Property outfit NCT Alliance Bhd (KL:NCT) has proposed another acquisition of a majority stake in a Sabah landowner. The RM36 million acquisition will be settled via a share transfer.

Property development company Encorp Bhd (KL:ENCORP), an indirect subsidiary of the Federal Land Development Authority (Felda), has appointed Ahmad Harzimi Mohd Taib as its new group CEO, with immediate effect.

The Master Builders Association Malaysia (MBAM) has urged the government to reconsider the impending revision and expansion of the sales and service tax (SST) on construction services, citing concerns that the move will strain the industry’s cash flow.

At the time, the land, measuring 40,467 sq m and located in Mukim Petaling, had an estimated value of RM70 million.

“We are confident that the management of our property is in the good hands of UCSI Binarestu Sdn Bhd given their expertise and experience in property management.”

The contract encompasses main building works, including external, ancillary and infrastructure works, for 106 bungalow units in Rawang, Selangor.