KUALA LUMPUR (Aug 23): Sime Darby Property Bhd (KL:SIMEPROP) expects a higher occupancy rate for Phase 3B of Battersea Power Station in the UK at between 50% and 80% by next year, from 20% currently. An increase in the occupancy rate would also help blunt the impact of an accounting rule that dragged on Sime…
Read MoreKUALA LUMPUR (Aug 23): The latest investments by Amazon Web Services (AWS) underscore that Malaysia has much to offer to foreign businesses that go beyond tax incentives, said an economist. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said its strategic location, infrastructure, talent pool and pro-business policies are among its key…
Read MoreKUALA LUMPUR (Aug 23): Fifty-two occupants of the 17 terraced houses in Taman Bunga Raya, Jalan Genting Klang near the Wardieburn Camp here, have been evacuated after part of the retaining wall of the housing area collapsed due to heavy rain on Thursday. Wangsa Maju district police chief ACP Mohamad Lazim Ismail said a relief…
Read MoreKUALA LUMPUR (Aug 23): S P Setia Bhd (KL:SPSETIA) said on Friday Datuk Choong Kai Wai (pictured) remains as the president and chief executive officer of the state-owned property developer. The statement follows a news report of his purported exit from the company controlled by Permodalan Nasional Bhd. The New Straits Times reported earlier in…
Read MoreKUALA LUMPUR (Aug 21): Glomac Bhd (KL:GLOMAC) plans to raise up to RM3 billion through a sukuk wakalah programme to finance land acquisition, refinance debts and fund capital expenditure. In a bourse filing, the property developer said it completed the lodgement of the programme with the Securities Commission Malaysia on Wednesday. The first issuance under…
Read MoreKUALA LUMPUR (Aug 21): The Housing and Local Government Ministry (KPKT) said it is planning the setting up of escrow accounts for housing projects, in order to ensure payments by homebuyers are used exclusively for housing projects that they have bought. An escrow account is an account in which funds are held by a third…
Read MoreKUALA LUMPUR (Aug 22): The High Court here has allowed a discovery application by the Federal Land Development Authority (Felda) and Felda Investment Corporation Sdn Bhd (FIC) to obtain two classified documents in their suit against Synergy Promenade Sdn Bhd regarding vacant possession of the Jalan Semarak land. Judicial Commissioner Eddie Yeo had allowed the…
Read MoreFlagship projects totalling over RM2 billion launched in 2023 are still in the early stages of development, which will significantly bolster the company’s unbilled sales and provide strong revenue visibility moving forward. KUALA LUMPUR (Aug 22): UEM Sunrise Bhd achieved revenue of RM205.2 million and a sales achievement of RM269.8 million for the second quarter…
Read MoreKUALA LUMPUR (Aug 22): The launch of the Amazon Web Services (AWS) Asia Pacific (Malaysia) Region will allow local businesses to store and process their data within the country, said AWS Malaysia country manager Pete Murray in an interview with Digital Edge. This will facilitate faster application performance and better user experience can be achieved…
Read MoreKUALA LUMPUR (Aug 20): The government intends to enhance public transport services of Keretapi Tanah Melayu Bhd (KTMB) by increasing its passenger train assets, Transport Minister Anthony Loke Siew Fook said. Loke also gave his assurance that the addition of 62 new passenger train sets, with an estimated cost of RM10.7 billion, would not negatively…
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