KUALA LUMPUR (Oct 11): Gadang Holdings Bhd (KL:GADANG) is disposing of a leasehold land in Damansara Perdana for RM65 million to partially finance its existing construction projects and repay borrowings. “The key rationale for the proposed disposal is to strengthen Gadang Group’s cash flow position and to reallocate its cash flow to its ongoing and…
Read MoreKUALA LUMPUR (Oct 11): Lim Seong Hai Capital Bhd (KL:LSH), a construction and engineering firm, has filed for an initial public offering (IPO) as part of its listing transfer to the ACE Market, from the LEAP Market. The proposed IPO involves a public issue of 132 million new shares and an offer for sale of…
Read MoreKUALA LUMPUR (Oct 10): Construction and property development company MGB Bhd (KL:MGB) said it will undertake mixed development and residential projects on 26 acres of land in Taman Bukit Serdang, Seri Kembangan with a combined gross development value (GDV) of RM861.35 million. The company, which is 57.98%-owned by LBS Bina Group Bhd (KL:LBS), said it…
Read MoreKUALA LUMPUR (Oct 11): EUPE Corp Bhd (KL:EUPE) topped out its Helix2 affordable high-rise development located in PJS 5, Petaling Jaya, Selangor, on Friday. The project is 95% sold and is slated for completion in October 2025. The project has a gross development value of RM288 million, offering 500 serviced apartments within a 33-storey tower,…
Read MoreKUALA LUMPUR (Oct 11): Sunway REIT Management Sdn Bhd, the manager of Sunway Real Estate Investment Trust, announced on Oct 9 that Sunway REIT has completed the acquisition of 163 Retail Park for a purchase consideration of RM215 million and rebranded the mall as Sunway 163 Mall. Sunway 163 is located in the heart of Mont’…
Read MoreCosts and pushbacks are hindering progress. The idea of a low-carbon city (LCC) was developed to address environmental degradation brought on by rapid urbanisation in an effort to fight climate change. An LCC comprises communities that, instead of relying on traditional methods to mitigate the effects of climate change, adopt sustainable green technologies and environmentally…
Read MoreBoosting connectivity and development via infrastructure upgrade investments in transportation, utilities and urban redevelopment. The Penang Light Rail Transit (LRT), phase 1 of the Pan Borneo Highway, the Sarawak-Sabah Link Road (SSLR), the Green Line of the Kuching Urban Transportation System and MRT3 all share one commonality: they are included in Budget 2024’s RM90 billion…
Read MoreHigh Court bins Projek Muara’s bid to strike out claim by purchasers of abandoned Empire Remix The Edge reported last year that the High Court had set aside a corporate voluntary arrangement (CVA) by True Renaissance Development Sdn Bhd for the Empire Remix development. KUALA LUMPUR (Oct 10): The High Court on Thursday dismissed 31…
Read MoreLower-priced homes suffer from too many regulations. The Malaysian construction and housing industry is subject to level upon level of laws, policies and guidelines. It is considered one of the most highly regulated sectors because these standards are imposed at federal, state and local government levels, adding to compliance costs for the industry. Controls and…
Read MoreAffordable housing needs more push. Clean water, steady electricity supply, property sanitation and a solid roof over one’s head. These are necessities, basic human rights that every person must be entitled to even if they are within the low-income bracket. Under the 12th Malaysia Plan (12MP), the Malaysian government aimed to construct 500,000 affordable housing…
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