KUALA LUMPUR (May 8): Industronics Bhd said it has been appointed as the project management company to develop a hotel and golf course on a 155-acre parcel of land in Langkawi. The company said its subsidiary Olympex Sdn Bhd has signed a project management contract with Temoyong Land Sdn Bhd (TLSB) for the development, which…
Read MoreKUALA LUMPUR (May 9): All eyes will be on Bank Negara Malaysia (BNM) as the central bank is set to announce its overnight policy rate (OPR) decision later on Thursday afternoon. A Bloomberg poll showed that all 24 economists it surveyed are expecting BNM to keep the OPR unchanged at 3% following March’s milder-than-expected inflation…
Read MoreKUALA LUMPUR (May 9): UEM Sunrise Bhd (KL:UEMS) topped out KAIA Heights Phase 1 in Taman Equine, Seri Kembangan, Selangor, on Wednesday. The project is slated for completion in the third quarter of 2025. In a statement on Thursday, UEM Sunrise chief executive officer Sufian Abdullah said the developer strives to introduce an enriched lifestyle…
Read MoreKUALA LUMPUR (May 9): Malaysia’s central bank on Thursday left the benchmark interest rate unchanged as widely expected, citing improving economic activity amid moderate inflation. The overnight policy rate (OPR) was maintained at 3% following the Monetary Policy Committee’s two-day meeting, Bank Negara Malaysia (BNM) said in a statement. A survey of 24 economists by…
Read MoreKUALA LUMPUR (May 9): Solarvest Holdings Bhd (KL:SLVEST) said on Thursday that it has secured a contract worth RM40.4 million to install rooftop solar photovoltaic (PV) systems. The agreement involves engineering, procurement, construction and commission (EPCC) work at eight sites in Malaysia owned by Scientex Bhd (KL:SCIENTX) with a cumulative capacity of 21 megawatt peaks,…
Read MoreKUALA LUMPUR (May 8): IJM Land Bhd has achieved 55% take-up rate for serviced apartment Daffodil Residency since its launch on March 1, according to a press statement on May 7. Daffodil Residency is located within IJM Land’s 1,163-acre Alam Suria township (formerly known as Shah Alam 2) in Puncak Alam, Selangor. The township was…
Read MoreKUALA LUMPUR (May 8): GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves. The hypermarket operator said it has appealed against a court order to surrender the 180,000 sq ft premises,…
Read MoreKUALA LUMPUR (May 7): Malaysia’s central bank is unlikely to follow its counterparts in Indonesia and Philippines in raising interest rates when its monetary policy committee meets this week, HSBC said. The ringgit has been under pressure though a rate hike is not a “panacea”, HSBC said in a note. In fact, recent experience of…
Read MoreGig workers who do not have fixed income and job security make banks hesitant to approve them for housing loans. Freelancers, contract employees and other casual hirelings, otherwise known as gig workers, are changing the way traditional banks work in Malaysia. Quite a portion of a new generation of workforce make up the unsung heroes…
Read MoreKUALA LUMPUR (May 7): Ho Hup Construction Co Bhd’s RM1 billion mixed development project in Bukit Jalil will be suspended as it plans to sell the project’s 3.09-acre land for RM110 million cash. The disposal deal, inked between Ho Hup’s wholly-owned unit Bukit Jalil Development Sdn Bhd (BJD) and Exsim Development Sdn Bhd’s wholly-owned subsidiary…
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