KUALA LUMPUR (Oct 10): The Auditor General’s Report for 2022 has revealed that weaknesses in recording, monitoring, and enforcement have caused the Railway Assets Corp (RAC) to incur losses of RM12.84 million in rental revenue. Audit checks revealed that as of Dec 31, 2022, RAC had not collected property rental income from 12 tenants, amounting…
Read MoreKUALA LUMPUR (Oct 10): Sime Darby Property Bhd and Maybank announced a partnership to integrate Maybank Home2u financing platform into Sime Darby Property’s online booking system (OBS), offering instant home financing approval and competitive financing rates to homebuyers. In a press release issued on Tuesday, Maybank group CEO of community financial services Datuk John Chong…
Read MoreKUALA LUMPUR (Oct 10): Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) proposed that the government to promote rent-to-own (RTO) scheme as part of its wishlist for the upcoming Budget 2024 In a statement issued on Tuesday, the association noted that with the stagnant economy and the…
Read MoreKUALA LUMPUR (Oct 10): RHB Investment Bank Research reiterated its “overweight” stance on the basic materials sector and said it remains confident on the cement industry, given the inherent synergies with the construction and property sectors. In a sector update on Tuesday, the research house reiterated its conviction that cement demand will continue to flourish…
Read MoreKUALA LUMPUR (Oct 10): The proposed RM450 million acquisition of Menara CelcomDigi by Sentral Real Estate Investment Trust (Sentral REIT) is deemed fair and reasonable, says independent adviser Public Investment Bank Bhd (PIVB). In a circular to shareholders, PIVB recommended to non-interested shareholders of Malaysian Resources Corp Bhd (MRCB) to vote in favour of the…
Read MoreKUALA LUMPUR (Oct 10): Alliance Bank Malaysia Bhd said it is acquiring a 24-floor office suite in Jalan Ampang, developed by Oxley Holdings Ltd’s subsidiary Oxley Rising Sdn Bhd for RM405.84 million. In a Bursa Malaysia filing on Monday, the banking group said the strategic location of the properties at the commercial centre of KLCC…
Read MoreRISM supports the government’s measures and strategies, said Adzman. PETALING JAYA: The Royal Institution of Surveyors Malaysia (RISM) has announced its full support for the government’s measures and strategies outlined in the 12th Malaysia Plan (2021-2025) and in particular, those aimed at improving strata housing management. This follows the recent passing of the 12th Malaysia…
Read MoreCompliance cost accounts for an estimated 21% to 33% of the gross development value (GDV) in townships. Overregulation and inefficiencies lead to higher costs in housing projects By Yanika Liew When it comes to the cost of developing property, construction, material and labour cost comes to mind but few people understand that a significant portion…
Read MoreGovernment urged to implement reforms in education systems By: Yip Wai Fong Labour shortage has become a linchpin in the property sector, choking outputs and driving up costs. The industry has tried coping with it as best as it could under the current policies that have affected the supply of both skilled and unskilled labour…
Read MoreKUALA LUMPUR (Oct 8): The Food Merchant will be unveiling its sixth outlet with a first-ever concept store, The Food Merchant Prelude, exclusively at Pavilion Damansara Heights tomorrow. As an anchor tenant at Pavilion Damansara Heights, The Food Merchant Prelude “features a grab-and-go concept which curates premium grocery shopping”, stated a media release byThe Food…
Read More
