KUALA LUMPUR (Aug 9): The Construction Industry Development Board (CIDB) has launched two initiatives under the industralised building system (IBS), which are IBS Homes Catalogue and IBS Homes showhouses to encourage adoption of IBS in Malaysia in the affordable housing landscape. These were launched at the opening ceremony of BINA 2023 Conference at CIDB Convention…
Read MoreKUALA LUMPUR (Aug 9): Chinese property giant Country Garden Holdings Co’s failure to make payments on its two dollar bond coupons due Aug 6 (Sunday) totalling US$22.5 million (RM103 million) has raised concerns over a cross-default on its Islamic Medium-Term Notes (IMTN) Programme in Malaysia. The RM1.5 billion sukuk, issued by Country Garden’s Malaysian unit…
Read MoreKUALA LUMPUR (Aug 8): TCS Group Holdings Bhd has secured a contract to build a sales gallery along the Federal Highway in Subang Jaya for a property developer. The construction group said the contract, worth RM10.7 million, was awarded to its wholly-owned subsidiary TCS Construction Sdn Bhd by Impiana Impresif Sdn Bhd (IISB), a wholly-owned…
Read MoreKUALA LUMPUR (Aug 8): A total of 91.5% or 1,913 affordable housing projects using the Industrialised Building System (IBS) had been developed by government-appointed developers as of last year. Works Minister Datuk Seri Alexander Nanta Linggi said the figure showed an increase in affordable housing construction projects using the technology, compared with 84% or 1,180 in 2021….
Read MoreKUALA LUMPUR (Aug 8): Pestech International Bhd executive director Lim Peir Shenq (pictured) has retracted his resignation letter after handing it in on the same day on Aug 7, 2023. In a Bursa Malaysia filing on Tuesday (Aug 8), Pestech said Peir Shenq retracted his resignation in the late evening of Monday, but did not…
Read MoreKUALA LUMPUR (Aug 8): KLCC Property Holdings Bhd (KLCCP) has denied it is bidding for a stake in ICD Brookfield Place, a 900ft office tower in the heart of Dubai’s financial district.It was responding to a Bloomberg report on Aug 2, quoting people with knowledge of the matter, that KLCCP, along with China Investment Corp,…
Read MoreKUALA LUMPUR (Aug 4): Property developer Magna Prima Bhd is selling its entire equity interest in loss-making 33 Sentral Park Sdn Bhd, which owns two pieces of adjoining residential land measuring a total of 6.9 acres and fronting Jalan Gasing in Petaling Jaya, Selangor, to Glomics Holding Sdn Bhd (GHSB) for RM65 million. Magna Prima…
Read MoreKUALA LUMPUR (Aug 4): Fitters Diversified Bhd has terminated its initial 18.97-hectare land disposal to Aikbee Development (Kepong) Sdn Bhd for RM36 million, owing to the buyer’s failure of payment. In a filing with the local bourse on Friday (Aug 4), Fitters said that the disposal between its indirect wholly-owned subsidiary — Rasa Anggun Development…
Read MoreKUALA LUMPUR (Aug 7): EdgeProp was present over the weekend at the gallery showcases of two of EdgeProp START’s partners, SkyWorld Setapak and JKG Land. These were part of efforts to garner support for EdgePropSTART’s featured projects – Curvo Residences by SkyWorld Development and The Era 2 by JKG Land. As a result, there was good…
Read MoreKUALA LUMPUR (Aug 4): Analysts are upbeat on Sunway Bhd’s purchase of a 245-acre (99.15-hectare) freehold industrial land in Kuang, Rawang for RM115 million. In a note, Hong Leong Investment Bank (HLIB) Research analyst Tan Kai Shuen said he had a positive view of the acquisition, given its strategic location and good connectivity to the…
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