KUALA LUMPUR (March 19): The Public Accounts Committee (PAC) attributed the loss of RM3.19 million in land lease revenue from St Regis Langkawi Hotel to Langkawi Development Authority’s (Lada) failure to conclude the land lease agreement with the operator of the property. In a statement, PAC chairman Datuk Mas Ermieyati Samsudin (pictured) revealed that following…
Read MoreKUALA LUMPUR (March 19): The Ministry of Natural Resources and Environmental Sustainability is conducting a study on the National Carbon Market Policy, slated for completion next year, the Dewan Rakyat was told on Monday. Minister Nik Nazmi Nik Ahmad (pictured) said the policy seeks to support the adoption of both compliance and voluntary carbon market mechanisms in Malaysia, thus…
Read MoreKUALA LUMPUR (March 19): The government, via Bank Negara Malaysia (BNM), has taken a prudent and cautious approach to addressing household debt risks to ensure that there will be no negative effects on the stability of the country’s financial system. Deputy Finance Minister Lim Hui Ying said the government is aware of the risks associated…
Read MoreKUALA LUMPUR (March 19): Malaysia is one of the few countries that are not expected to cut its interest rates this year, according to the Malaysian Rating Corp Bhd (MARC). This presents a “positive counterweight narrative to Malaysia’s comparatively low interest rates” when compared to median interest rates of 9.25% in the Americas, 5.25% in…
Read MoreKUALA LUMPUR (March 16): Plans are under way to build 8,000 Residensi Madani units in Kuala Lumpur starting in June this year, said Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa. She said the units priced around RM200,000 each are designed to cater to the needs of low- and middle-income groups. “The…
Read MoreKUALA LUMPUR (March 18): The Malaysian Institute of Architects (PAM) has expressed its support towards the Ministry of Housing and Local Government’s initiative to introduce the Urban Redevelopment Act. PAM president Abu Zarim Abu Bakar (pictured) in a press statement on Monday said that the current consent requirement of 100% from building owners had been…
Read MoreKUALA LUMPUR (March 16): More than 10,000 units of Residensi Madani and Residensi Wilayah are targeted to be developed in Putrajaya, starting this year, and expected to be completed in 2027. Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa (pictured) said that the development of both types of residency will benefit those…
Read MoreKUALA LUMPUR (March 18): SkyWorld Development Bhd and RHB Banking Group have embarked on a strategic collaboration to promote green-certified homeownership for purchasers of The Vesta Residences and Curvo Residences. This marks the first partnership between both parties to introduce RHB’s Green Home Financing scheme for SkyWorld’s green-certified homes. RHB Bank will offer a margin…
Read MoreKUALA LUMPUR (March 18): Eversendai Corp Bhd, which announced last week that it had secured four new projects worth an aggregate RM5.4 billion, said it is unable to provide a value breakdown of the projects due to non-disclosure agreements (NDAs). The construction group, whose shares have surged 68.3% since the announcement of the hefty contract…
Read MoreKUALA LUMPUR (March 15): Binastra Corp Bhd has secured a contract worth RM369.95 million to undertake construction and completion of main building works and infrastructure projects. In a filing with Bursa Malaysia on Friday, Binastra announced that its wholly owned subsidiary Binastra Builders Sdn Bhd had accepted the letter of award from Exsim Jalil Sdn…
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