Many a property developer may be shivering in their boots following the recent Federal Court ruling that the Housing Controller under the Housing and Local Government Ministry (KPKT) does not have power to grant Extension of Time (EOT) approvals to them.

Developers should confirm their EOT approvals with KPKT minister

PETALING JAYA (Nov 27): A total of 536 Extension of Time (EOT) approvals were granted by the Controller of Housing and the Ministry of Urban Wellbeing, Housing and Local Government (KPKT) since 2014, according to data collated by the National House Buyers Association (HBA).

536 EOT approvals since 2014

PETALING JAYA (Nov 20): The developer of Battersea Power Station in London has given a sneak peek of the apartments being built at the Grade II* listed landmark on the River Thames before the iconic building opens in the summer of 2021.

In unveiling the first completed and fully-furnished unit out of 253 new homes being created in the building, Battersea Power Station Development Co Ltd (BPSDC) said the design of the apartment features the original brick and steelwork dating back to the 1930s, new floor to ceiling Crittal windows, art deco inspired interiors and state-of-the-art appliances.

Battersea Power Station unveils first completed apartment

In a mixed strata development, the issue of maintenance fee calculation is always the most controversial as there’s no one size fits all solution.

The recent decision by the Court of Appeal on a flat rate maintenance fee has stoked debate among stakeholders, some for and some against.

No one formula fits all in maintenance charges calculation

The Strata Management Act 2013 acts as a guide in preventing and resolving problems, but what's really required in strata living is common sense, said Chur Associates founder and managing partner Chris Tan.

"Rules and regulations provide guidelines in handling issues related to strata living faced by property owners, but communal living needs mutual understanding in order to create a harmonious community," Tan said during the EdgeProp.my Fireside Chat - Strata Management Act 2013 review: When? held at Wisma Rehda today.

Common sense approach to strata living problems

Sime Darby Property Bhd has partnered Mitsui & Co Ltd and Mitsubishi Estate Co Ltd to develop Bandar Bukit Raja Industrial Gateway (BBRIG), which will offer land lease and Built-to-Suit (BTS) services to business owners.

This is also the first land lease and BTS model introduced by Sime Darby Property in the Klang Valley, tapping the robust growth of e-commerce and logistic industries.

Sime Darby Property, Mitsui Malaysia and Mitsubishi Estate to develop Bandar Bukit Raja Industrial Gateway

Bandar Bukit Raja Industrial Gateway (BBRIG), a joint-venture development by Sime Darby Property Bhd, Mitsui & Co Ltd and Mitsubishi Estate Co Ltd, has secured two major tenants, which will start operations there in 3Q2020.

The tenants are Malaysian electrical appliances company Sen Heng Electric (KL) Sdn Bhd and Germany-based integrated logistics services provider Leshaco (Malaysia) Sdn Bhd.

Sen Heng Electric and German company Leshaco are first two tenants in BBRIG

PETALING JAYA (October 11): Rehda Institute chairman Datuk Jeffrey Ng is glad to see the government recognising the issues faced by first time homebuyers and offering solutions, including promoting Rent-to-Own (RTO) schemes to lower the entry barrier for them. — EdgeProp.my

Rehda institute lauds move to encourage home ownership through RTO

PETALING JAYA (Oct 11): The National House Buyers Association (HBA) has praised the government’s efforts in its proposed Budget 2020 to help homebuyers to own a property but at the same time urged the government to review certain measures that might pose hidden risks to the property market.

HBA honorary secretary-general Datuk Chang Kim Loong said the proposal to lower the threshold for foreign ownership of condominiums and apartments to RM600,000, from RM1 million, to solve the overhang problem may invite the risk of developers to ignore building affordable homes and focus on building luxury properties priced above RM600,000 targeting foreign buyers. — EdgeProp.my

HBA: Do not neglect the hidden risks while encouraging homeownership

The Real Estate and Housing Developers' Association Malaysia (Rehda) has reiterated that the National Home Ownership Campaign (HOC) events and exhibitions are targeted at Malaysian homebuyers and not foreigners.  

Commenting on recent allegations that foreign buyers are crowding out local homebuyers, Rehda president Datuk Soam Heng Choon said Malaysian property developers have always been building homes targeted at Malaysians and will continue to do so.

Rehda: Local developers building homes for Malaysians, not foreigners

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

Mohan Swami, partner agree to buy 58% of Turiya for RM52.86m from MAA Group

Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.

Asia’s richest banker loses US$1.2 bil after RBI ban

The Malaysian Association of Asset Managers (MAAM) announced the election of its new committee members and principal officers for the 2024 to 2026 term.

Malaysian Association of Asset Managers announces leadership for 2024-2026 

At my Chinese New Year gatherings this year, some friends divulged that their calendar was filled with “appointments” to conceive “dragon babies” before the “deadline”.

It’s fascinating how many in modern society still adopt feng shui as a guide in important decisions in life, despite t...

My Say: Feng shui, confirmation bias and polarisation

Majuperak Holdings Bhd (MHB) will collaborate with Shizen International Inc to explore the development of a solar photovoltaic (PV) project to expand Perak’s clean energy technology usage.

Majuperak, Shizen International to explore solar PV development in Perak

The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.

e-Filing: Tax return form submission deadline extended to May 15 for non-business taxpayers

Berjaya Corp Bhd (BCorp) has denied that its founder Tan Sri Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion) Forest City casino resort as reported recently.

Berjaya Corp denies participation in talks to revive Forest City casino resort

Govt to announce second 5G network next week, coverage now at 80.3%, says Fahmi

The government’s move to introduce a pilot phase of the progressive wage policy is the right approach towards achieving the intended target to boost labour productivity growth in Malaysia, according to a World Bank economist.

World Bank economist: Boosting labour productivity by reduction in skills-related underemployment to increase wages

Hong Kong home prices rose for the first time in almost a year in March as the city’s removal of property curbs revived sales.

Hong Kong home prices rise for first time in 11 months after curbs scrapped

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

ViTrox shares on pace for worst day in 18 months as 1Q disappoints

Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.

Maxis could lead second 5G network roll-out with new consortium partner, says RHB Research

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

YTL Corp eyeing to extend upside movement, says RHB Retail Research 

Analysts are positive that Capital A Bhd's proposed restructuring plan to streamline its aviation segments will help it exit the Practice Note 17 (PN17) status and enhance its competitive stance against established full-service carriers.

Analysts positive on Capital A's restructuring plan to get it out of PN17

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla fires back at investor who doesn’t want pay fight in Texas

The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.

China’s upstart electric brands, and even its state-owned, legacy automakers, are racing to pack technology and features once considered premium into electric vehicles (EVs) as cheap as US$20,000 (RM95,525) — less than half the cost of an average new car in the US, now more than US$48,000.

Battle for 'tech luxury' in China as EVs get smarter — and cheaper

European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.

Record US$8.8 bil pulled from US sustainable funds in 1Q

Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.

Trump advisers discuss penalties for nations that move away from the dollar

The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.

World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

The Malaysian Research Accelerator for Technology and Innovation (MRANTI) has signed a memorandum of understanding (MOU) with Beijing Zhongguancun Science City Innovation Development Co Ltd to collaborate on several strategic initiatives aimed at fostering significant advancements in technology and innovation.

MRANTI inks deal with Beijing Zhongguancun Science City to explore strategic collaboration areas

More to come
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The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.

Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

Google parent Alphabet announces first-ever dividend, shares soar

Asian shares rose cautiously on Friday as markets sobered up to the idea that US rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan (BOJ).

Tan Ai Leng

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