PETALING JAYA (Feb 28): S P Setia Bhd’s Castanea homes in Setia Alam, Selangor, which were launched on the weekend of Feb 15 and 16, have seen well over half of the 52 double-storey semidee homes priced above RM1 million snapped up. To date, it has achieved a take-up rate of 65%. 

Castanea is the second phase of the freehold Bywater Homes project in Setia Alam. The first phase comprising 202 units of 2-storey terraced homes and 48 units of 2-storey linked semidees have been 90% sold to date.

Castanea semidees at Setia Alam 65% taken up over weekend launch

PETALING JAYA: News of a tri-party partnership between Koperasi Alumni MKM Kuala Lumpur Bhd (Kopama), Kava Resources (M) Sdn Bhd and Jiangsu Provincial Construction Group Co Ltd (JPC) to build a million affordable homes for Malaysians over 10 years, may have raised eyebrows but Kopama president is confident of proving sceptics wrong.

The private sector initiative echoes the government’s goal to provide one million affordable homes for the rakyat. At the agreement signing ceremony between the three parties in November 2019, JPC chairman Chen Zhenhua was quoted as saying the homes will be of good quality, priced from RM40,000 to RM300,000.

Cooperative targets one million members to drive housing scheme

Residential property in outskirt markets should be on the radar of property buyers and investors given the significant growth in their property transaction value and volume in recent times, said Rahim & Co International Sdn Bhd director of research Sulaiman Saheh.

'Outskirt' markets are new growth hot spots, says Rahim & Co

While the property overhang in Malaysia has been on an upward trend, it is not an "economic calamity", according to property consultancy Rahim & Co International Sdn Bhd as it expects the number to be reduced over the next few years.

Rahim & Co: Don't be overly concerned with the overhang

KUALA LUMPUR (Nov 21): A focus group meeting will be held on Monday (Nov 25) between the Ministry of Housing and Local Government (KPKT) and industry stakeholders including the Malaysian Institute of Property & Facility Managers (MIPFM), the National House Buyers Association (HBA) and representatives from management bodies of strata property, to come up with an equitable solution to the issue pertaining to flat rate maintenance charges in mixed developments, said Malaysian Institute of Property and Facility Managers (MIPFM) president Adzman Shah Mohd Ariffin.

KPKT to meet industry stakeholders to discuss flat rate maintenance fee issue

Malaysia is expected to be on the radar of foreign investors who are seeking a stable market to invest and to operate from, said Malaysian Institute of Property and Facility Managers (MIPFM) president Adzman Shah Mohd Ariffin (pictured).

Hence, he said property and facility managers in the country need to enhance the performance of their buildings in order to meet the demands and expectations of international tenants.

MIPFM: Get ready for influx of foreign investors next year

While the tangible aspects of a building can enhance a property's value, it is the intangible aspects that will make a building stand out from its peers and thus yield better value, said Singapore Association of Property and Facility Managers president Dr Lim Lan Yuan (pictured).

Speaking at the MIPFM Conference 2019 today, Lim explained that the tangible aspects of a building such as physical design, building materials, finishes, facilities, amenities and location, are more obvious and easily identified.

‘Focus on intangible aspects to enhance building value’

Gamuda Land and Maybank Islamic has teamed up to enhance the former’s GL H.O.M.E, or Gamuda Land Home Ownership Made Easy campaign with the HouzKEY financial scheme.

Under the umbrella of GL H.O.M.E with the addition of HouzKEY, potential buyers do not need to pay a down payment and no payment is required until the completion of the property, according to a press release by Gamuda Land today.

Gamuda Land teams up with Maybank Islamic’s HouzKEY to enhance GL H.O.M.E

It is estimated that 90% of new strata property in the country are still being managed by Joint Management Bodies (JMB) with only 10% having formed Management Corporations (MC) due to the delay in the issuance of strata titles.

Speaking at EdgeProp.my's "Fireside Chat on Strata Management Act 2013 review: When?", Real Estate and Housing Developers’ Association (Rehda) president Datuk Soam Heng Choon noted that feedback from the association’s members revealed that none of them were able to obtain strata titles upon receiving the Certificate of Completion and Compliance (CCC) for their projects.

90% of new strata property still under JMB due to delay in strata title issuance

The Nanyang Siang Pau office building site in Petaling Jaya, Selangor has been put up for rent at an asking monthly rental of RM2.50 psf, according to property consultancy firm Knight Frank Malaysia.

Knight Frank Malaysia is the exclusive agent appointed by the property owner Media Chinese International Ltd (MCIL), which also owns the Chinese daily as well as Sin Chew Daily, China Press and Guang Ming Daily.

Nanyang Siang Pau office building up for rent

Dubai Airports Chief Operating Officer (COO), Majed Al Joker announced that Dubai International Airport (DXB) will resume normal operations within 24 hours, signifying a return to its full capacity and regular schedule.

Dubai International Airport set to resume full operations within 24 hours

The remains of the late Tan Sri Joseph Kurup arrived at the Kota Kinabalu International Airport here at 11.20pm on a commercial flight.

The flight which was initially scheduled at 9.15am on Thursday was cancelled due to ash clouds from Mount Ruang’s volcanic eruption in North Sulawesi, Indonesia, engulfing the air space.

Remains of late Joseph Kurup arrive in Kota Kinabalu on Thursday night

FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.

RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.

He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.

CPO futures end lower for 5th consecutive trading day

The US dollar's dominant reserve currency status is likely to endure partly because even the most talked about alternative the Chinese yuan falls short as a credible challenger, Morgan Stanley said in a report on Thursday.

Rivalry with China, Russia's war in Ukraine, wrangling in Washington over the US debt ceiling and rising debt levels have put the dollar's status as the world's dominant currency under scrutiny in recent years.

Dollar's dominant reserve currency status to endure, says Morgan Stanley

Wall Street's main stock indexes gained on Thursday as investors cheered upbeat earnings across several sectors, while advancing megacap growth stocks were amongst the biggest boosts.

Megacap growth stock Meta Platforms outpaced peers and gained 2.7% after Bernstein raised its price target to US$590, a sixth such hike on the stock this week.

Wall St ticks up on megacaps, earnings boost

Goldman Sachs Group Inc President John Waldron warned that out-of-control spending could expose the US to serious risk in the event of a political crisis.

Goldman’s Waldron sounds alarm over US debt jolt to markets

The head of the International Monetary Fund warned the US that the global economy is closely watching interest rates and industrial policies given the potential spillovers from the world’s biggest economy and reserve currency.

“All eyes are on the US,” Kristalina Georgieva said in an interview on Bloomberg’s Surveillance on Thursday.

IMF boss says ‘all eyes’ on US amid risks to global economy

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

Swiss state prosecutors are seeking long prison terms for two men accused of embezzling US$1.8 billion from 1Malaysia Development Bhd (1MDB) — Saudi-Swiss businessman Tarek Obaid and his Swiss-British business partner Patrick Mahony, the AFP reported.

Swiss prosecutors seek long jail terms for duo in US$1.8bil 1MDB fraud — report

The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.

Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiTech Padu Bhd, just one month after acquiring a 15.9% stake via a private vehicle in the company.

Amid controversy over govt contracts, Farhash ceases to be HeiTech Padu substantial shareholder after one month

Malaysia Building Society Bhd (MBSB) has recommended a final dividend of 3.5 sen for the financial year ended Dec 31, 2023 (FY2023).

This would equate to a payout of RM287.78 million, based on the bank’s share base of 8.22 billion shares as at end-December 2023, according to MBSB’s bourse filing on Thursday.

MBSB proposes 3.5 sen dividend for FY2023

Digital payment and financial technology provider Ant International is going to establish what it calls a new digital business centre in Malaysia, creating more than 500 job opportunities in the first year, with more hirings in the next four years until 2028.

Ant International to set up new business centre in Malaysia, creating over 500 jobs

Bursa Malaysia Bhd’s wholly-owned Bursa Carbon Exchange (BCX) will hold its inaugural auction of renewable energy certificates (RECs) on June 25 to support Malaysia’s energy transition plans and corporates’ net-zero aspirations.

Bursa to hold auction of maiden RE certificates on June 25

Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

Bursa closes higher on improved sentiment, bargain hunting

KUALA LUMPUR (April 18): IT services firm Systech Bhd said on Thursday that shareholders have approved several proposals, including an acquisition and bonus shares issue.

Systech gets shareholders’ nod for acquisition, bonus shares issue

KUALA LUMPUR (April 18): AwanBiru Technology Bhd (Awantec) said trading in its shares will be suspended from April 26, after the group failed to submit its regularisation plan to the regulators for approval within the stipulated timeframe.

Awantec faces trading suspension from April 26 after failing to submit regularisation plan

After spending over two years in court due to a suit from Empire Holdings Ltd, MAA Group Bhd, its major shareholder Tunku Datuk Yaacob Khyra and Turiya Bhd have been dropped as parties in the suit over MAA’s purchase of Turiya shares from a Bahrain-based bank. &nbsp;

MAA Group exits legal bout over 2021 Turiya share acquisition under settlement deal

Malaysia needs to restructure the whole ecosystem of technical and vocational education and training (TVET) programmes, so that it can effectively meet the industry’s requirements, said Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai.

Revamp needed for TVET ecosystem to reduce mismatch, says FMM president

Malaysia’s current tallest building, the Merdeka 118 tower, has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core and Shell rating system, marking it as the first megatall building in the country to achieve it, according to a press statement on Thursday.&nbsp;

Merdeka 118 first megatall building in Malaysia to get LEED Platinum certification

Australia brought 23 companies seeking investment in maritime decarbonisation and renewable energy (RE) sectors to Malaysia as part of the Australia-Southeast Asia Business Exchange programme.

Australia brings 23 firms looking to invest in maritime decarbonisation, RE sectors in Malaysia

Pansar Bhd has secured a contract worth RM269.1 million to upgrade the capacity of a water treatment plant in Sibu, Sarawak.

The construction and infrastructure outfit secured the job from Lembaga Air Sibu via an open tender, through its wholly owned Perbena Emas Sdn Bhd.

Pansar bags RM269m job to upgrade water treatment plant in Sarawak

High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and&nbsp;Special Financial Zone&nbsp;(SFZ) in Forest City can spur Johor’s economy to outpace that&nbsp;of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.

Special economic, financial zones can help Johor surpass other states economically, says Anwar

A former technician was brought before the Sessions Court again here on Thursday on a charge of posting offensive messages insulting Islam on his Facebook account in&nbsp;March, regarding the sale of stockings bearing the word 'Allah'.

'Allah' socks insults: Former technician brought before Sessions Court again

Engineering services provider AWC Bhd has bagged two contracts worth a total of RM19.39 million for plumbing works at Hospital Kapar in Selangor and a data centre in Cyberjaya.

In a statement on Thursday, AWC said the Hospital Kapar job was awarded to its wholly-owned subsidiary Qudotech Sdn Bhd by the project's main contractor, IJM Corp Bhd's unit IJM Construction Sdn Bhd.

AWC secures plumbing jobs at Hospital Kapar and Cyberjaya data centre

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EVENING 5: Five things you need to know today

Bursa Malaysia Securities Bhd has approved the transfer of UMediC Group Bhd’s listing status from the ACE Market to the Main Market, under the 'health care'&nbsp;sector.

Bursa approves UMediC’s transfer to Main Market

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

The developer of the&nbsp;Petaling Jaya Dispersal Link (PJD Link) expressway will receive an official letter soon, notifying it of the cancellation of the construction project.

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